Crocs (NASDAQ:CROX) Updates FY22 Earnings Guidance

Crocs (NASDAQ:CROXGet Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share guidance of $9.50-10.30 for the period, compared to the consensus earnings per share 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 Stock Up 6.6 %

Shares of NASDAQ CROX traded up $4.53 during mid-day trading on Friday, reaching $73.61. 3,329,476 shares of the company traded hands, compared to its average volume of 1,908,124. The company’s fifty day moving average is $57.01 and its two-hundred day moving average is $70.46. The company has a debt-to-equity ratio of 5.58, a quick ratio of 1.19 and a current ratio of 1.94. Crocs has a fifty-two week low of $46.08 and a fifty-two week high of $183.88. The stock has a market cap of $4.53 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 0.45 and a beta of 2.02.

Crocs (NASDAQ:CROXGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The textile maker reported $3.24 EPS for the quarter, beating the consensus estimate of $2.73 by $0.51. The company had revenue of $964.60 million for the quarter, compared to the consensus estimate of $938.93 million. Crocs had a return on equity of 202.79% and a net margin of 19.08%. The company’s revenue for the quarter was up 50.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.23 earnings per share. On average, analysts expect that Crocs will post 10.22 earnings per share for the current year.

Wall Street Analyst Weigh In

CROX has been the subject of several research analyst reports. Loop Capital raised Crocs from a hold rating to a buy rating and boosted their price objective for the stock from $52.42 to $75.00 in a research report on Tuesday, July 5th. OTR Global cut shares of Crocs to a positive rating in a research note on Tuesday, July 19th. B. Riley decreased their price target on shares of Crocs from $120.00 to $116.00 in a research report on Friday. Wedbush assumed coverage on Crocs in a research report on Thursday, April 28th. They set an outperform rating and a $90.00 target price on the stock. Finally, StockNews.com raised Crocs from a sell rating to a hold rating in a report on Saturday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $94.25.

Insider Buying and Selling at Crocs

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

Institutional Trading of Crocs

Several institutional investors and hedge funds have recently bought and sold shares of CROX. BlackRock Inc. lifted its holdings in shares of Crocs by 3.9% during the first quarter. BlackRock Inc. now owns 6,646,713 shares of the textile maker’s stock worth $507,811,000 after buying an additional 247,828 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Crocs by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 5,836,304 shares of the textile maker’s stock valued at $445,893,000 after acquiring an additional 226,669 shares during the period. Wellington Management Group LLP increased its position in shares of Crocs by 16.1% in the first quarter. Wellington Management Group LLP now owns 991,024 shares of the textile maker’s stock worth $75,715,000 after purchasing an additional 137,493 shares during the period. Prudential Financial Inc. raised its stake in Crocs by 63.0% in the first quarter. Prudential Financial Inc. now owns 222,013 shares of the textile maker’s stock valued at $16,963,000 after purchasing an additional 85,778 shares in the last quarter. Finally, LSV Asset Management bought a new stake in Crocs during the first quarter worth about $5,401,000. Institutional investors own 90.14% of the company’s stock.

Crocs Company Profile

(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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