Crocs (NASDAQ:CROX) Issues FY24 Earnings Guidance

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

Analyst Ratings Changes

A number of analysts have commented on CROX shares. OTR Global raised Crocs from a mixed rating to a positive rating in a report on Thursday, April 11th. B. Riley boosted their price target on shares of Crocs from $95.00 to $122.00 and gave the stock a neutral rating in a report on Wednesday, April 10th. Barclays upped their price objective on shares of Crocs from $167.00 to $169.00 and gave the stock an overweight rating in a research report on Wednesday. Stifel Nicolaus lifted their target price on shares of Crocs from $140.00 to $158.00 and gave the stock a buy rating in a research report on Wednesday. Finally, UBS Group upped their target price on Crocs from $124.00 to $148.00 and gave the company a neutral rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Crocs presently has a consensus rating of Moderate Buy and an average target price of $150.42.

Crocs Stock Performance

Shares of CROX traded up $4.00 during mid-day trading on Thursday, hitting $139.42. The stock had a trading volume of 603,386 shares, compared to its average volume of 1,413,659. Crocs has a 52 week low of $74.00 and a 52 week high of $146.79. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75. The business has a fifty day moving average price of $129.81 and a 200-day moving average price of $110.00. The firm has a market cap of $8.46 billion, a P/E ratio of 10.57, a PEG ratio of 1.56 and a beta of 2.03.

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

Insider Activity at Crocs

In related news, Director Ian Bickley sold 16,785 shares of the company’s stock in a transaction that occurred on 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 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 accessible through this hyperlink. In other news, Director Ian Bickley sold 16,785 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $120.05, for a total value of $2,015,039.25. Following the transaction, the director now owns 31,815 shares of the company’s stock, valued at approximately $3,819,390.75. The sale 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 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 directly owns 64,912 shares in the company, valued at approximately $7,734,264.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,867 shares of company stock worth $4,786,276. 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.