FY2018 Earnings Forecast for Columbia Sportswear (COLM) Issued By DA Davidson
Columbia Sportswear (NASDAQ:COLM) – Analysts at DA Davidson raised their FY2018 earnings estimates for Columbia Sportswear in a research note issued to investors on Friday, October 26th. DA Davidson analyst M. Kawamoto now forecasts that the textile maker will earn $3.61 per share for the year, up from their previous estimate of $3.44. DA Davidson has a “Neutral” rating and a $96.00 price objective on the stock. DA Davidson also issued estimates for Columbia Sportswear’s Q4 2018 earnings at $1.27 EPS, Q1 2019 earnings at $0.94 EPS, Q3 2019 earnings at $1.54 EPS, Q4 2019 earnings at $1.54 EPS, FY2019 earnings at $4.10 EPS and FY2020 earnings at $4.55 EPS.
Several other brokerages have also issued reports on COLM. BidaskClub lowered shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Citigroup increased their target price on shares of Columbia Sportswear from $94.00 to $106.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Buckingham Research increased their target price on shares of Columbia Sportswear from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Thursday, August 16th. Pivotal Research set a $94.00 target price on shares of Columbia Sportswear and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Finally, FBR & Co lowered shares of Columbia Sportswear from an “outperform” rating to a “$93.43” rating and set a $84.00 target price on the stock. in a research note on Wednesday, July 18th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $90.00.
Columbia Sportswear (NASDAQ:COLM) last posted its quarterly earnings data on Thursday, October 25th. The textile maker reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.14. Columbia Sportswear had a net margin of 5.56% and a return on equity of 15.46%. The company had revenue of $795.80 million for the quarter, compared to analyst estimates of $791.25 million.
Columbia Sportswear declared that its board has authorized a stock buyback program on Monday, August 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the textile maker to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Investors of record on Thursday, November 15th will be paid a dividend of $0.24 per share. This is a positive change from Columbia Sportswear’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.12%. Columbia Sportswear’s dividend payout ratio is currently 29.53%.
In other Columbia Sportswear news, EVP Joseph P. Boyle sold 1,443 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $90.99, for a total transaction of $131,298.57. Following the transaction, the executive vice president now owns 2,116,597 shares in the company, valued at $192,589,161.03. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Douglas H. Morse sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $91.00, for a total transaction of $136,500.00. Following the transaction, the senior vice president now owns 2,648 shares in the company, valued at approximately $240,968. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,661 shares of company stock worth $789,646. 56.68% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in COLM. Public Employees Retirement Association of Colorado acquired a new position in Columbia Sportswear during the second quarter worth $104,000. Mount Yale Investment Advisors LLC acquired a new position in Columbia Sportswear during the first quarter worth $109,000. Point72 Asset Management L.P. acquired a new position in Columbia Sportswear during the second quarter worth $119,000. Fort L.P. acquired a new position in Columbia Sportswear during the second quarter worth $121,000. Finally, NewSquare Capital LLC acquired a new position in Columbia Sportswear during the second quarter worth $165,000. Hedge funds and other institutional investors own 38.20% of the company’s stock.
About Columbia Sportswear
Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.
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