Crocs, Inc. (CROX) Expected to Post Quarterly Sales of $246.13 Million

Analysts expect Crocs, Inc. (NASDAQ:CROX) to announce sales of $246.13 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Crocs’ earnings. The lowest sales estimate is $243.70 million and the highest is $248.20 million. Crocs reported sales of $243.27 million during the same quarter last year, which indicates a positive year over year growth rate of 1.2%. The company is scheduled to report its next earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Crocs will report full-year sales of $1.06 billion for the current fiscal year, with estimates ranging from $1.05 billion to $1.06 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.09 billion per share, with estimates ranging from $1.07 billion to $1.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Crocs.

Crocs (NASDAQ:CROX) last issued its earnings results on Tuesday, August 7th. The textile maker reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.26. Crocs had a net margin of 2.29% and a return on equity of 13.84%. The business had revenue of $328.00 million during the quarter, compared to analysts’ expectations of $321.47 million.

A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Crocs from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. BidaskClub cut shares of Crocs from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Pivotal Research set a $14.00 price target on shares of Crocs and gave the stock a “hold” rating in a research note on Wednesday, May 2nd. Stifel Nicolaus cut shares of Crocs from a “buy” rating to a “hold” rating and increased their price target for the stock from $16.00 to $17.00 in a research note on Wednesday, May 9th. Finally, TheStreet upgraded shares of Crocs from a “c+” rating to a “b” rating in a research note on Thursday, August 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $15.86.

In related news, insider Daniel P. Hart sold 20,831 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $20.00, for a total transaction of $416,620.00. Following the completion of the sale, the insider now owns 347,706 shares in the company, valued at approximately $6,954,120. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Smach sold 74,400 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $20.14, for a total transaction of $1,498,416.00. Following the completion of the sale, the director now owns 125,262 shares of the company’s stock, valued at approximately $2,522,776.68. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Crocs by 3.7% in the 2nd quarter. BlackRock Inc. now owns 9,800,291 shares of the textile maker’s stock worth $172,582,000 after acquiring an additional 347,462 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Crocs by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,246,230 shares of the textile maker’s stock worth $74,776,000 after acquiring an additional 23,147 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Crocs by 8.6% in the 2nd quarter. Renaissance Technologies LLC now owns 3,631,000 shares of the textile maker’s stock worth $63,942,000 after acquiring an additional 287,800 shares during the period. Millennium Management LLC lifted its stake in shares of Crocs by 87.7% in the 2nd quarter. Millennium Management LLC now owns 1,033,773 shares of the textile maker’s stock worth $18,205,000 after acquiring an additional 483,069 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Crocs in the 1st quarter worth $14,109,000. Institutional investors own 97.24% of the company’s stock.

Shares of Crocs stock traded down $0.30 during trading hours on Friday, hitting $20.14. The company had a trading volume of 655,876 shares, compared to its average volume of 1,044,622. Crocs has a twelve month low of $8.64 and a twelve month high of $20.86. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -1,022.00, a PEG ratio of 5.05 and a beta of 0.45.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.

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