Columbia Sportswear (NASDAQ:COLM) Shares Gap Down Following Weak Earnings

Columbia Sportswear (NASDAQ:COLM)’s stock price gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $85.86, but opened at $79.00. Columbia Sportswear shares last traded at $81.20, with a volume of 273,125 shares traded.

The textile maker reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.06). Columbia Sportswear had a return on equity of 12.48% and a net margin of 6.42%.

Columbia Sportswear Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Monday, March 10th. Columbia Sportswear’s payout ratio is currently 31.01%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Columbia Sportswear from a “buy” rating to a “hold” rating in a research note on Wednesday. TD Cowen upped their price target on shares of Columbia Sportswear from $70.00 to $84.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. Finally, Stifel Nicolaus lifted their price objective on Columbia Sportswear from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th.

Hedge Funds Weigh In On Columbia Sportswear

A number of hedge funds have recently modified their holdings of COLM. Impact Partnership Wealth LLC purchased a new stake in Columbia Sportswear in the fourth quarter worth $240,000. Assenagon Asset Management S.A. bought a new position in Columbia Sportswear in the 4th quarter worth $6,356,000. Impax Asset Management Group plc lifted its position in shares of Columbia Sportswear by 79.2% in the 3rd quarter. Impax Asset Management Group plc now owns 90,515 shares of the textile maker’s stock worth $7,530,000 after purchasing an additional 40,000 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Columbia Sportswear during the 3rd quarter valued at about $7,676,000. Finally, MQS Management LLC purchased a new position in shares of Columbia Sportswear during the third quarter valued at about $499,000. Hedge funds and other institutional investors own 47.76% of the company’s stock.

Columbia Sportswear Price Performance

The stock’s 50 day moving average is $86.46 and its 200-day moving average is $83.05. The company has a market capitalization of $4.63 billion, a P/E ratio of 22.37, a P/E/G ratio of 3.32 and a beta of 0.93.

Columbia Sportswear Company Profile

Columbia Sportswear Company, together with its subsidiaries, designs, develops, markets, and distributes outdoor, active, and everyday 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 for hiking, trail running, snow, fishing, hunting, mountaineering, climbing, skiing and snowboarding, trail, and outdoor activities.