Crocs (NASDAQ:CROX) Issues Q2 Earnings Guidance

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

Crocs Price Performance

CROX stock opened at $126.63 on Tuesday. The firm has a 50 day moving average of $129.26 and a 200-day moving average of $109.47. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 1.56 and a beta of 2.03. Crocs has a 12-month low of $74.00 and a 12-month high of $146.79. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13.

Crocs (NASDAQ:CROX) last announced its earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share 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 net margin of 20.00% and a return on equity of 61.97%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.61 EPS. As a group, equities analysts expect that Crocs will post 12.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on CROX shares. 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 report on Wednesday, March 20th. Piper Sandler boosted their target price on shares of Crocs from $135.00 to $140.00 and gave the stock an overweight rating in a report on Friday, February 16th. Williams Trading restated a hold rating and set a $125.00 price objective (down from $135.00) on shares of Crocs in a research report on Tuesday, April 16th. Raymond James lifted their target price on shares of Crocs from $120.00 to $145.00 and gave the company a strong-buy rating in a research note on Friday, February 16th. Finally, KeyCorp lifted their price target on shares of Crocs from $130.00 to $149.00 and gave the company an overweight rating in a research report on Thursday, March 21st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $144.64.

Insiders Place Their Bets

In other news, President Michelle Poole sold 4,793 shares of the business’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 approximately $7,734,264.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Ian Bickley sold 3,215 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $118.57, for a total value of $381,202.55. Following the sale, the director now directly owns 28,600 shares of the company’s stock, valued at $3,391,102. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michelle Poole sold 4,793 shares of the 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 transaction, the president now owns 64,912 shares in the company, valued at $7,734,264.80. The disclosure for this sale can be found here. Over the last 90 days, 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.