Columbia Sportswear (NASDAQ:COLM) Announces Earnings Results, Beats Estimates By $0.38 EPS

Columbia Sportswear (NASDAQ:COLM) announced its earnings results on Thursday. The textile maker reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.38, FiscalAI reports. The business had revenue of $962.58 million during the quarter, compared to the consensus estimate of $944.91 million. Columbia Sportswear had a net margin of 6.05% and a return on equity of 11.20%.

Columbia Sportswear Stock Up 4.6%

NASDAQ:COLM traded up $2.79 on Thursday, hitting $63.69. The stock had a trading volume of 1,211,176 shares, compared to its average volume of 650,966. Columbia Sportswear has a 52 week low of $47.47 and a 52 week high of $69.06. The business’s fifty day moving average is $58.21 and its 200 day moving average is $59.65. The company has a market cap of $3.26 billion, a PE ratio of 16.54 and a beta of 0.93.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on COLM shares. Weiss Ratings raised Columbia Sportswear from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Wall Street Zen lowered Columbia Sportswear from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 11th. Zacks Research cut Columbia Sportswear from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Stifel Nicolaus set a $67.00 price target on Columbia Sportswear and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, BTIG Research restated a “buy” rating and set a $80.00 price target on shares of Columbia Sportswear in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $65.40.

Columbia Sportswear Company Profile

Columbia Sportswear Company is an outdoor and active lifestyle apparel, footwear, accessories and equipment company headquartered in Portland, Oregon. Founded in 1938 as the Columbia Hat Company, the business has grown into a global outdoor brand focused on products designed for activities such as hiking, skiing, fishing, camping and everyday outdoor use.

The company markets products under the Columbia, Sorel, Mountain Hardwear and prAna brands. Its offerings include jackets, shirts, pants, base layers, footwear, hats, gloves, backpacks and other outdoor accessories.