Crocs (NASDAQ:CROX) Issues 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.

Crocs Trading Up 7.2 %

Shares of CROX stock traded up $9.16 during mid-day trading on Tuesday, hitting $135.79. The company’s stock had a trading volume of 4,112,219 shares, compared to its average volume of 1,409,197. The company’s fifty day simple moving average is $129.26 and its 200-day simple moving average is $109.47. 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 quick ratio of 0.75 and a current ratio of 1.30. The company has a market cap of $8.24 billion, a PE ratio of 11.12, a P/E/G ratio of 1.56 and a beta of 2.03.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Piper Sandler boosted their target price on Crocs from $135.00 to $140.00 and gave the company an overweight rating in a research report on Friday, February 16th. Stifel Nicolaus boosted their price objective on Crocs from $132.00 to $140.00 and gave the stock a buy rating in a report on Friday, February 16th. Wedbush reissued an outperform rating and set a $154.00 price objective on shares of Crocs in a report on Friday. Barclays initiated coverage on Crocs in a report on Monday, April 1st. They set an overweight rating and a $167.00 price objective for the company. Finally, Raymond James boosted their price objective on Crocs from $120.00 to $145.00 and gave the stock a strong-buy rating in a report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Crocs presently has an average rating of Moderate Buy and an average target price 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 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 in the company, valued at $7,734,264.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Crocs news, EVP Daniel P. Hart sold 10,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $118.48, for a total transaction of $1,184,800.00. Following the sale, the executive vice president now owns 219,293 shares of the company’s stock, valued at approximately $25,981,834.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michelle Poole sold 4,793 shares of the company’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 directly owns 64,912 shares in the company, valued at approximately $7,734,264.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,867 shares of company stock worth $4,786,276. 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.