Crocs (NASDAQ:CROX) Updates FY24 Earnings Guidance

Crocs (NASDAQ:CROX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $12.25-12.73 for the period, compared to the consensus EPS estimate of $12.47. Crocs also updated its Q2 guidance to $3.40-3.55 EPS.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CROX. Wedbush reissued an outperform rating and set a $154.00 price objective on shares of Crocs in a research report on Friday, May 3rd. Monness Crespi & Hardt boosted their price target on Crocs from $140.00 to $170.00 and gave the company a buy rating in a report on Wednesday. OTR Global raised Crocs from a mixed rating to a positive rating in a research note on Thursday, April 11th. Bank of America boosted their price objective on Crocs from $140.00 to $150.00 and gave the company a buy rating in a research note on Wednesday, March 20th. Finally, KeyCorp raised their target price on shares of Crocs from $130.00 to $149.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $150.42.

Crocs Price Performance

Shares of CROX traded down $1.06 during mid-day trading on Wednesday, hitting $135.43. 920,478 shares of the stock were exchanged, compared to its average volume of 1,419,366. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 1.30. The company has a market cap of $8.22 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 1.56 and a beta of 2.03. Crocs has a 52-week low of $74.00 and a 52-week high of $146.79. The firm has a 50-day moving average of $129.57 and a two-hundred day moving average of $109.82.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.77. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The company had revenue of $938.60 million for the quarter, compared to the consensus estimate of $884.29 million. During the same quarter in the prior year, the firm earned $2.61 earnings per share. Crocs’s revenue was up 6.2% on a year-over-year basis. On average, equities analysts predict that Crocs will post 12.44 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John B. Replogle acquired 1,972 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $126.75 per share, for a total transaction of $249,951.00. Following the completion of the transaction, the director now directly owns 3,153 shares in the company, valued at approximately $399,642.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Crocs news, EVP Daniel P. Hart sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $118.48, for a total value of $1,184,800.00. Following the completion of the sale, the executive vice president now owns 219,293 shares of the company’s stock, valued at $25,981,834.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John B. Replogle bought 1,972 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $126.75 per share, for a total transaction of $249,951.00. Following the purchase, the director now owns 3,153 shares of the company’s stock, valued at approximately $399,642.75. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 39,867 shares of company stock worth $4,786,276. Corporate insiders own 2.72% of the company’s stock.

Crocs Company Profile

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and children under Crocs and HEYDUDE Brand in the United States and internationally. The company offers various footwear products, including clogs, sandals, slides, flips, wedges, platforms, socks, boots, charms, flip flops, sneakers, and slippers.