Crocs (NASDAQ:CROX) Releases FY22 Earnings Guidance

Crocs (NASDAQ:CROXGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided EPS guidance of $9.50-10.30 for the period, compared to the consensus EPS estimate of $10.35. The company issued revenue guidance of $3.395-3.505 billion, compared to the consensus revenue estimate of $3.47 billion. Crocs also updated its FY 2022 guidance to $9.50-$10.30 EPS.

Crocs Price Performance

NASDAQ CROX traded up $4.53 during trading on Friday, reaching $73.61. The company’s stock had a trading volume of 3,329,476 shares, compared to its average volume of 1,908,124. The stock has a market capitalization of $4.53 billion, a PE ratio of 8.40, a P/E/G ratio of 0.45 and a beta of 2.02. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.94 and a quick ratio of 1.19. The firm has a fifty day moving average of $57.01 and a 200 day moving average of $70.46. Crocs has a one year low of $46.08 and a one year high of $183.88.

Crocs (NASDAQ:CROXGet Rating) last released its quarterly earnings results on Thursday, August 4th. The textile maker reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.51. The business had revenue of $964.60 million during the quarter, compared to analysts’ expectations of $938.93 million. Crocs had a net margin of 19.08% and a return on equity of 202.79%. The business’s quarterly revenue was up 50.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.23 EPS. Analysts expect that Crocs will post 10.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on CROX shares. Robert W. Baird reaffirmed an outperform rating and issued a $90.00 target price on shares of Crocs in a research note on Tuesday. StockNews.com raised shares of Crocs from a sell rating to a hold rating in a research note on Saturday. B. Riley lowered their price target on shares of Crocs from $120.00 to $116.00 in a research note on Friday. Piper Sandler reduced their price objective on Crocs from $120.00 to $90.00 and set an overweight rating on the stock in a research note on Tuesday, July 26th. Finally, Loop Capital raised Crocs from a hold rating to a buy rating and boosted their target price for the company from $52.42 to $75.00 in a research note on Tuesday, July 5th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Crocs presently has an average rating of Moderate Buy and an average price target of $94.25.

Insider Buying and Selling at Crocs

In related news, CFO Anne Mehlman bought 2,600 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was purchased at an average cost of $54.91 per share, with a total value of $142,766.00. Following the transaction, the chief financial officer now owns 121,153 shares in the company, valued at approximately $6,652,511.23. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Thomas J. Smach acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, May 25th. The stock was acquired at an average price of $49.99 per share, for a total transaction of $249,950.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $499,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anne Mehlman bought 2,600 shares of the stock in a transaction dated Monday, May 9th. The shares were acquired at an average price of $54.91 per share, with a total value of $142,766.00. Following the completion of the acquisition, the chief financial officer now directly owns 121,153 shares of the company’s stock, valued at approximately $6,652,511.23. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 17,600 shares of company stock valued at $947,066. 2.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its holdings in Crocs by 24.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 40,538 shares of the textile maker’s stock worth $3,097,000 after acquiring an additional 7,954 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Crocs during the first quarter valued at $969,000. Lido Advisors LLC increased its holdings in Crocs by 12.1% in the 1st quarter. Lido Advisors LLC now owns 3,929 shares of the textile maker’s stock worth $300,000 after buying an additional 425 shares in the last quarter. Mcmorgan & Co. LLC bought a new position in Crocs during the 1st quarter valued at about $1,534,000. Finally, Quantbot Technologies LP boosted its holdings in shares of Crocs by 55.0% during the 1st quarter. Quantbot Technologies LP now owns 32,334 shares of the textile maker’s stock valued at $2,470,000 after acquiring an additional 11,470 shares during the last quarter. 90.14% of the stock is owned by hedge funds and other institutional investors.

About Crocs

(Get Rating)

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name.

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Earnings History and Estimates for Crocs (NASDAQ:CROX)

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