Columbia Sportswear Co. (NASDAQ:COLM) – Equities research analysts at B. Riley cut their FY2016 earnings estimates for shares of Columbia Sportswear in a note issued to investors on Friday. B. Riley analyst M. Kummetz now expects that the firm will post earnings of $2.65 per share for the year, down from their previous forecast of $2.70. B. Riley currently has a “Neutral” rating and a $64.00 target price on the stock. B. Riley also issued estimates for Columbia Sportswear’s Q4 2016 earnings at $1.12 EPS, FY2017 earnings at $2.91 EPS and FY2018 earnings at $3.20 EPS.
Columbia Sportswear (NASDAQ:COLM) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.01. Columbia Sportswear had a net margin of 7.23% and a return on equity of 11.59%. The firm earned $745.71 million during the quarter, compared to analysts’ expectations of $770.47 million. During the same period in the prior year, the company earned $1.28 EPS. The firm’s revenue was down 2.8% on a year-over-year basis.
A number of other equities analysts have also commented on COLM. Citigroup Inc. decreased their price objective on shares of Columbia Sportswear from $69.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, July 29th. KeyCorp began coverage on shares of Columbia Sportswear in a research note on Thursday, September 22nd. They issued a “sector weight” rating for the company. Brean Capital reaffirmed a “hold” rating on shares of Columbia Sportswear in a research note on Monday, July 18th. Zacks Investment Research raised shares of Columbia Sportswear from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Monday, July 4th. Finally, Buckingham Research began coverage on shares of Columbia Sportswear in a research note on Thursday, October 20th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $63.38.
Shares of Columbia Sportswear (NASDAQ:COLM) opened at 57.94 on Monday. The stock has a market capitalization of $4.04 billion, a PE ratio of 24.02 and a beta of 0.89. The company’s 50-day moving average is $57.31 and its 200-day moving average is $57.31. Columbia Sportswear has a 12 month low of $43.56 and a 12 month high of $66.00.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Chicago Equity Partners LLC raised its position in Columbia Sportswear by 17.9% in the third quarter. Chicago Equity Partners LLC now owns 5,210 shares of the company’s stock worth $296,000 after buying an additional 790 shares during the last quarter. Strs Ohio raised its stake in Columbia Sportswear by 26.0% in the third quarter. Strs Ohio now owns 18,400 shares of the company’s stock valued at $1,044,000 after buying an additional 3,800 shares in the last quarter. FNY Managed Accounts LLC bought a new stake in Columbia Sportswear during the third quarter valued at about $275,000. Moody Aldrich Partners LLC raised its stake in Columbia Sportswear by 101.8% in the third quarter. Moody Aldrich Partners LLC now owns 33,610 shares of the company’s stock valued at $1,907,000 after buying an additional 16,955 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Columbia Sportswear by 67.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,990 shares of the company’s stock valued at $170,000 after buying an additional 1,204 shares in the last quarter. Institutional investors and hedge funds own 36.66% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This is a positive change from Columbia Sportswear’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.24%. Columbia Sportswear’s dividend payout ratio (DPR) is presently 28.22%.
About Columbia Sportswear