Crocs (NASDAQ:CROX) Releases FY 2024 Earnings Guidance

Crocs (NASDAQ:CROX) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 12.820-12.900 for the period, compared to the consensus estimate of 12.860. The company issued revenue guidance of $4.1 billion-$4.1 billion, compared to the consensus revenue estimate of $4.1 billion. Crocs also updated its Q4 guidance to $2.20-2.28 EPS.

Wall Street Analysts Forecast Growth

CROX has been the subject of several recent analyst reports. Williams Trading raised shares of Crocs from a “hold” rating to a “buy” rating and boosted their price target for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. KeyCorp cut their target price on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group decreased their price target on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating on the stock in a research note on Wednesday. Monness Crespi & Hardt cut their price objective on Crocs from $170.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Piper Sandler restated an “overweight” rating and issued a $170.00 target price on shares of Crocs in a research report on Friday, August 23rd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Crocs has a consensus rating of “Moderate Buy” and a consensus price target of $156.38.

Crocs Price Performance

Shares of NASDAQ:CROX traded down $0.07 during midday trading on Wednesday, hitting $111.51. The company had a trading volume of 1,885,557 shares, compared to its average volume of 1,317,948. Crocs has a twelve month low of $74.00 and a twelve month high of $165.32. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 8.39, a price-to-earnings-growth ratio of 1.35 and a beta of 1.99. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95. The business’s 50-day simple moving average is $137.69 and its 200-day simple moving average is $138.65.

Crocs (NASDAQ:CROX) last issued its earnings results on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.47. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the company earned $3.25 EPS. On average, research analysts predict that Crocs will post 12.88 earnings per share for the current year.

Insiders Place Their Bets

In other Crocs news, Director John B. Replogle acquired 1,996 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the acquisition, the director now owns 7,064 shares of the company’s stock, valued at approximately $875,653.44. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Crocs news, Director Douglas J. Treff sold 10,594 shares of Crocs stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the sale, the director now directly owns 81,254 shares in the company, valued at $10,756,404.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Replogle acquired 1,996 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the acquisition, the director now owns 7,064 shares in the company, valued at approximately $875,653.44. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.72% of the stock is owned by 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.