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 Performance

Shares of NASDAQ:CROX traded down $2.71 during midday trading on Wednesday, hitting $133.78. The company had a trading volume of 248,107 shares, compared to its average volume of 1,410,597. Crocs has a 12-month low of $74.00 and a 12-month high of $146.79. The company has a fifty day moving average of $129.57 and a two-hundred day moving average of $109.82. The company has a market cap of $8.12 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.56 and a beta of 2.03. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75.

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. The business had revenue of $938.60 million during the quarter, compared to analysts’ expectations of $884.29 million. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.61 earnings per share. On average, equities research analysts expect that Crocs will post 12.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. B. Riley increased their price objective on shares of Crocs from $95.00 to $122.00 and gave the stock a neutral rating in a research note on Wednesday, April 10th. Monness Crespi & Hardt increased their price target on Crocs from $140.00 to $170.00 and gave the stock a buy rating in a research note on Wednesday. Piper Sandler boosted their price objective on Crocs from $135.00 to $140.00 and gave the company an overweight rating in a research report on Friday, February 16th. Williams Trading reiterated a hold rating and set a $125.00 target price (down previously from $135.00) on shares of Crocs in a research report on Tuesday, April 16th. Finally, Stifel Nicolaus boosted their price target on Crocs from $140.00 to $158.00 and gave the stock a buy 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 given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $150.25.

Insider Activity

In other Crocs news, Director John B. Replogle purchased 1,972 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $126.75 per share, with a total value of $249,951.00. Following the completion of the purchase, the director now directly owns 3,153 shares in the company, valued at $399,642.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John B. Replogle acquired 1,972 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $126.75 per share, for a total transaction of $249,951.00. Following the completion of the transaction, the director now directly owns 3,153 shares in the company, valued at approximately $399,642.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Michelle Poole sold 5,074 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $124.98, for a total value of $634,148.52. Following the completion of the sale, the president now directly owns 52,966 shares of the company’s stock, valued at $6,619,690.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,867 shares of company stock worth $4,786,276. 2.72% of the stock is currently owned by 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.