Crocs (NASDAQ:CROX) Updates FY 2024 Earnings Guidance

Crocs (NASDAQ:CROX) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 12.250-12.730 for the period, compared to the consensus EPS estimate of 12.430. The company issued revenue guidance of $4.1 billion-$4.2 billion, compared to the consensus revenue estimate of $4.1 billion. Crocs also updated its Q2 2024 guidance to 3.400-3.550 EPS.

Crocs Stock Down 2.0 %

CROX traded down $2.71 during trading on Wednesday, reaching $133.78. 248,107 shares of the stock were exchanged, compared to its average volume of 1,410,597. The stock has a market cap of $8.12 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 1.56 and a beta of 2.03. The stock’s 50 day moving average price is $129.57 and its two-hundred day moving average price is $109.82. Crocs has a twelve month low of $74.00 and a twelve month high of $146.79. 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 (NASDAQ:CROX) last issued its quarterly earnings results on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.77. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The company had revenue of $938.60 million for the quarter, compared to analysts’ expectations of $884.29 million. During the same quarter last year, the business earned $2.61 earnings per share. Crocs’s revenue was up 6.2% on a year-over-year basis. Equities analysts expect that Crocs will post 12.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CROX shares. UBS Group upped their price objective on Crocs from $124.00 to $148.00 and gave the company a neutral rating in a research note on Wednesday. Monness Crespi & Hardt lifted their price target on Crocs from $140.00 to $170.00 and gave the company a buy rating in a research note on Wednesday. Barclays began coverage on shares of Crocs in a research note on Monday, April 1st. They issued an overweight rating and a $167.00 target price for the company. Bank of America increased their price objective on shares of Crocs from $140.00 to $150.00 and gave the company a buy rating in a research note on Wednesday, March 20th. Finally, KeyCorp lifted their price objective on shares of Crocs from $130.00 to $149.00 and gave the stock an overweight rating in a research report 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, Crocs presently has an average rating of Moderate Buy and an average price target of $150.25.

Insider Buying and Selling

In other news, Director Ian Bickley sold 16,785 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Michelle Poole sold 4,793 shares of the stock in a transaction that occurred 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 transaction, the president now owns 64,912 shares of the company’s stock, valued at $7,734,264.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ian Bickley sold 16,785 shares of the company’s stock in a transaction dated 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 directly owns 31,815 shares of the company’s stock, valued at $3,819,390.75. 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 three months. 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.