Crocs (NASDAQ:CROX) Updates Q2 Earnings Guidance

Crocs (NASDAQ:CROX) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $3.40-3.55 for the period, compared to the consensus earnings per share estimate of $3.48. Crocs also updated its FY24 guidance to $12.25-12.73 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CROX. Raymond James increased their price target on shares of Crocs from $120.00 to $145.00 and gave the company a strong-buy rating in a report on Friday, February 16th. Wedbush reissued an outperform rating and issued a $154.00 target price on shares of Crocs in a report on Friday, May 3rd. Bank of America upped their price target on Crocs from $140.00 to $150.00 and gave the company a buy rating in a report on Wednesday, March 20th. OTR Global upgraded Crocs from a mixed rating to a positive rating in a report on Thursday, April 11th. Finally, KeyCorp upped their target price on shares of Crocs from $130.00 to $149.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Crocs has an average rating of Moderate Buy and an average target price of $150.42.

Crocs Price Performance

Crocs stock traded up $4.00 during mid-day trading on Thursday, reaching $139.42. 603,386 shares of the company’s stock traded hands, compared to its average volume of 1,413,659. Crocs has a 12-month low of $74.00 and a 12-month high of $146.79. The company has a market cap of $8.46 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.56 and a beta of 2.03. The stock has a 50 day moving average of $129.81 and a two-hundred day moving average of $110.00. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 1.13.

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

Insider Activity at Crocs

In related news, President Michelle Poole sold 4,793 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $119.15, for a total transaction of $571,085.95. Following the completion of the transaction, the president now owns 64,912 shares in the company, valued at approximately $7,734,264.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Crocs news, Director John B. Replogle acquired 1,972 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $126.75 per share, with a total value of $249,951.00. Following the completion of the acquisition, the director now directly owns 3,153 shares in the company, valued at approximately $399,642.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Michelle Poole sold 4,793 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $119.15, for a total value of $571,085.95. Following the sale, the president now directly owns 64,912 shares in the company, valued at approximately $7,734,264.80. The disclosure for this sale can be found here. Insiders sold a total of 39,867 shares of company stock worth $4,786,276 in the last quarter. 2.72% of the stock is owned by company insiders.

About Crocs

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.