Crocs (NASDAQ:CROX) Updates Q2 Earnings Guidance

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

Crocs Stock Performance

NASDAQ CROX opened at $126.63 on Tuesday. The firm’s fifty day moving average price is $129.26 and its two-hundred day moving average price is $109.47. The stock has a market cap of $7.69 billion, a PE ratio of 9.89, a PEG ratio of 1.56 and a beta of 2.03. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 1.30. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $146.79.

Crocs (NASDAQ:CROX) last posted its earnings results on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, beating the consensus estimate of $2.22 by $0.80. The firm had revenue of $938.60 million during the quarter, compared to the consensus estimate of $884.29 million. Crocs had a return on equity of 61.97% and a net margin of 20.00%. During the same period last year, the company earned $2.61 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities analysts expect that Crocs will post 12.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CROX has been the subject of a number of recent research reports. Piper Sandler increased their price objective on Crocs from $135.00 to $140.00 and gave the company an overweight rating in a report on Friday, February 16th. Barclays assumed coverage on Crocs in a research note on Monday, April 1st. They issued an overweight rating and a $167.00 price objective on the stock. Bank of America increased their price objective on shares of Crocs from $140.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. Wedbush reissued an outperform rating and issued a $154.00 price objective on shares of Crocs in a research report on Friday. Finally, UBS Group upped their target price on Crocs from $117.00 to $124.00 and gave the company a neutral rating in a research report on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $144.64.

Insider Activity at Crocs

In related news, President Michelle Poole sold 4,793 shares of the company’s stock in a transaction dated 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 owns 64,912 shares in the company, valued at approximately $7,734,264.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Michelle Poole sold 4,793 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $119.15, for a total value of $571,085.95. Following the completion of the sale, the president now directly owns 64,912 shares of the company’s stock, valued at approximately $7,734,264.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ian Bickley sold 16,785 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the completion of the sale, the director now owns 31,815 shares of the company’s stock, valued at approximately $3,819,390.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,867 shares of company stock valued at $4,786,276. 2.72% of the stock is owned by company insiders.

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.