Columbia Sportswear (NASDAQ:COLM) Releases Fiscal 2022 Earnings Guidance
Columbia Sportswear (NASDAQ:COLM – Get Rating) released an update to its fiscal 2022 earnings guidance on Monday morning. The company provided EPS guidance of $5.70 to $6.00 for the period. , versus the consensus EPS estimate of $5.75. The company released a revenue forecast of $3.63 billion to $3.69 billion, versus a consensus revenue estimate of $3.67 billion.
NASDAQ:COLM shares opened at $75.84 on Tuesday. The stock has a market capitalization of $4.77 billion, a PE ratio of 13.66, a P/E/G ratio of 1.54 and a beta of 0.90. Columbia Sportswear has a 1-year low of $74.49 and a 1-year high of $108.47. The company has a fifty-day moving average price of $88.19 and a 200-day moving average price of $94.09.
Columbia Sportswear (NASDAQ:COLM – Get Rating) last released its results on Thursday, April 28. The textile maker reported earnings per share of $1.03 for the quarter, beating analysts’ consensus estimate of $0.85 by $0.18. The company posted revenue of $761.50 million in the quarter, compared to analyst estimates of $762.88 million. Columbia Sportswear had a net margin of 11.19% and a return on equity of 19.34%. The company’s revenue increased 21.7% year over year. In the same quarter of the previous year, the company achieved EPS of $0.84. On average, stock analysts expect Columbia Sportswear to post earnings per share of 5.85 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 2. Shareholders of record on Thursday, May 19 will receive a dividend of $0.30. The ex-dividend date is Wednesday, May 18. This represents an annualized dividend of $1.20 and a dividend yield of 1.58%. Columbia Sportswear’s payout ratio is 21.62%.
Several equity research analysts have recently released reports on the stock. Zacks Investment Research downgraded shares of Columbia Sportswear from a buy rating to a hold rating and set a price target of $92.00 for the stock. in a research note from Tuesday, April 12. Bank of America downgraded shares of Columbia Sportswear from a neutral to an underperforming rating and lowered its price target for the stock from $108.00 to $80.00 in a Friday research note April 29. Robert W. Baird lowered his price target on shares of Columbia Sportswear from $110.00 to $100.00 in a Friday, April 29 research note. CL King upgraded shares of Columbia Sportswear to a Buy rating and set a price target of $117.00 on the stock in a Friday, Feb. 4 research note. Finally, TheStreet downgraded shares of Columbia Sportswear from an ab to a c+ rating in a Thursday, April 28 research note. One research analyst rated the stock with a sell rating, six issued a hold rating and three gave the company’s stock a buy rating. Based on data from MarketBeat.com, Columbia Sportswear currently has a consensus rating of Hold and a consensus price target of $104.57.
Separately, director Ronald E. Nelson sold 3,706 shares of the company in a transaction dated Thursday, May 5. The stock was sold at an average price of $80.16, for a total transaction of $297,072.96. Following completion of the transaction, the administrator now directly owns 14,402 shares of the company, valued at approximately $1,154,464.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Additionally, director Stephen E. Babson sold 2,568 shares of the company in a trade that took place on Tuesday, May 3. The shares were sold at an average price of $81.14, for a total value of $208,367.52. Following completion of the transaction, the director now owns 112,627 shares of the company, valued at $9,138,554.78. The disclosure of this sale can be found here. Insiders hold 40.33% of the shares of the company.
Several institutional investors and hedge funds have recently changed their holdings in COLM. Morgan Stanley increased its position in Columbia Sportswear shares by 106.0% in the second quarter. Morgan Stanley now owns 130,478 shares of the textile maker valued at $12,834,000 after buying an additional 67,154 shares during the period. Goldman Sachs Group Inc. increased its position in Columbia Sportswear shares by 3.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 147,522 shares of the textile maker valued at $14,375,000 after buying an additional 5,345 shares during the period. LPL Financial LLC increased its position in Columbia Sportswear shares by 12.8% in the fourth quarter. LPL Financial LLC now owns 6,010 shares of the textile maker valued at $588,000 after purchasing an additional 680 shares during the period. Lombard Odier Asset Management USA Corp acquired a new position in shares of Columbia Sportswear in Q4 valued at around $283,000. Finally, Legal & General Group Plc increased its position in Columbia Sportswear shares by 1.1% in the 4th quarter. Legal & General Group Plc now owns 51,537 shares of the textile maker valued at $5,022,000 after buying an additional 576 shares during the period. Institutional investors and hedge funds own 48.65% of the company’s shares.
About Columbia Sportswear (Get an evaluation)
Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets and distributes outdoor, active and everyday apparel, footwear, accessories and equipment in the United States, Latin America, Asia- Pacific, Europe, Middle East, Africa and Canada. The company provides clothing, accessories and equipment that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, running , water sports, yoga, golf and adventure travel.
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