Crocs (NASDAQ:CROX) Issues Q2 Earnings Guidance

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

Analyst Ratings Changes

Several analysts have commented on CROX shares. OTR Global raised shares of Crocs from a mixed rating to a positive rating in a research note on Thursday, April 11th. UBS Group raised their target price on shares of Crocs from $124.00 to $148.00 and gave the stock a neutral rating in a research report on Wednesday. Piper Sandler increased their price target on shares of Crocs from $135.00 to $140.00 and gave the stock an overweight rating in a research note on Friday, February 16th. KeyCorp lifted their price target on shares of Crocs from $130.00 to $149.00 and gave the company an overweight rating in a report on Thursday, March 21st. Finally, B. Riley upped their price objective on Crocs from $95.00 to $122.00 and gave the stock a neutral rating in a report on Wednesday, April 10th. Four research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $150.42.

Crocs Stock Performance

Shares of NASDAQ CROX traded down $1.06 during trading hours on Wednesday, hitting $135.43. 920,478 shares of the stock were exchanged, compared to its average volume of 1,419,366. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75. The company’s 50 day moving average is $129.57 and its 200 day moving average is $109.82. The firm has a market capitalization of $8.22 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.56 and a beta of 2.03. Crocs has a one year low of $74.00 and a one year high of $146.79.

Crocs (NASDAQ:CROX) last issued its earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share (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%. Crocs’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.61 EPS. On average, research analysts expect that Crocs will post 12.44 EPS for the current year.

Insider Activity

In other Crocs news, Director John B. Replogle bought 1,972 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the transaction, the director now owns 3,153 shares of the company’s stock, valued at approximately $399,642.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director John B. Replogle acquired 1,972 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now directly owns 3,153 shares in the company, valued at approximately $399,642.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michelle Poole sold 4,793 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $119.15, for a total value of $571,085.95. Following the sale, the president now owns 64,912 shares in the company, valued at approximately $7,734,264.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,867 shares of company stock valued at $4,786,276. Company insiders own 2.72% of the company’s stock.

About Crocs

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.