COLM - Analyst Downgrades Columbia Sportswear Ahead Of Q3 Earnings Next Week: What's Going On? | Benzinga
Seaport Global analyst Mitch Kummetz downgraded Columbia Sportswear Co (NASDAQ: COLM) to Neutral from Buy.
The analyst is bearish on the stock as they "don't like the near-term setup," given a slow start to the fall & winter season, expected continued warm weather (strong El Nino conditions), and likely weak fall 2024 orders as full-price sell-through typically drives future sell-in.
Kummetz estimates revenue of $995.4 million (vs. consensus $994.8 million) and EPS of $1.70 (vs. $1.65 street view) for Q3 2023.
The analyst sees slightly more risk in the fourth-quarter (Q4) of fiscal 2023 and implied the company's guidance for sales and OM to ...