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Citigroup Reiterates Sell Rating, $45 PT on Columbia Sportswear Company Ahead of Thursday Q4 Earnings Report

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In a report published Wednesday, Citigroup reiterated its Sell rating and $45.00 price target on Columbia Sportswear Company (NASDAQ: COLM).

Citigroup noted, “COLM previewed a Q4 miss on 1/16, w/ sales expected to be down ~5% y/y (vs. +1.5% previously), gross margins down 120-130bps (below 50-75bps previously), and SG&A expense down ~210bps y/y (vs. prior guidance of down 175bps) on continued expense reductions. Our Q4 EPS estimate is $1.12, based on a 5% sales decline, ~125bps decline y/y in gross margins, and 10% decline in SG&A to 32.1% of sales, roughly in-line w/ management's preview. Consensus EPS for Q4 is $1.14.”

Columbia Sportswear Company closed on Tuesday at $49.13.

Latest Ratings for COLM

DateFirmActionFromTo
Jan 2015Morgan StanleyInitiates Coverage onUnderweight
Jan 2015Wells FargoInitiates Coverage onMarket Perform
Dec 2014Goldman SachsUpgradesNeutralBuy

View More Analyst Ratings for COLM
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Reiteration Analyst Ratings

 

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