Crocs (NASDAQ:CROX) Updates Q2 Earnings Guidance

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

Crocs Price Performance

Shares of CROX stock opened at $141.25 on Friday. The stock’s 50-day moving average is $130.16 and its 200 day moving average is $110.21. The company has a market cap of $8.57 billion, a P/E ratio of 10.91, 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 has a 1-year low of $74.00 and a 1-year high of $146.79.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, topping the consensus estimate of $2.25 by $0.77. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The business had revenue of $938.60 million during the quarter, compared to analyst estimates of $884.29 million. During the same period last year, the business posted $2.61 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Research analysts predict that Crocs will post 12.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CROX shares. UBS Group upped 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. Barclays upped their price objective on Crocs from $167.00 to $169.00 and gave the stock an overweight rating in a report on Wednesday. KeyCorp raised their target price on shares of Crocs from $130.00 to $149.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Bank of America lifted their price objective on shares of Crocs from $140.00 to $150.00 and gave the company a buy rating in a research note on Wednesday, March 20th. Finally, OTR Global upgraded shares of Crocs from a mixed rating to a positive rating in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $150.42.

Insider Buying and Selling at Crocs

In other news, Director John B. Replogle bought 1,972 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $126.75 per share, with a total value of $249,951.00. Following the transaction, the director now directly owns 3,153 shares in the company, valued at approximately $399,642.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director John B. Replogle bought 1,972 shares of Crocs stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $126.75 per share, with a total value of $249,951.00. Following the completion of the transaction, the director now directly owns 3,153 shares in the company, valued at $399,642.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ian Bickley sold 16,785 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $120.05, for a total value of $2,015,039.25. Following the transaction, the director now owns 31,815 shares of the company’s stock, valued at $3,819,390.75. The disclosure for this sale can be found here. Insiders have sold a total of 39,867 shares of company stock valued at $4,786,276 in the last 90 days. 2.72% of the stock is currently owned by corporate 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.