Analyst Downgrades Columbia Sportswear Ahead Of Q3 Earnings Next Week: What's Going On?
Portfolio Pulse from Lekha Gupta
Seaport Global analyst Mitch Kummetz has downgraded Columbia Sportswear Co (NASDAQ:COLM) to Neutral from Buy ahead of its Q3 earnings release. The downgrade is due to a slow start to the fall & winter season, expected continued warm weather, and likely weak fall 2024 orders. The analyst also lowered Q4 estimates for revenue and EPS. COLM shares are trading lower by 1.27% at $72.08.
October 20, 2023 | 4:46 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Columbia Sportswear Co has been downgraded to Neutral from Buy by Seaport Global analyst Mitch Kummetz. The downgrade and lowered Q4 estimates are likely to negatively impact the stock price in the short term.
The downgrade by Seaport Global analyst Mitch Kummetz is based on a slow start to the fall & winter season, expected continued warm weather, and likely weak fall 2024 orders. These factors, along with lowered Q4 estimates for revenue and EPS, are likely to negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100