Crocs, Inc. (CROX) Expected to Announce Quarterly Sales of $187.35 Million
Equities analysts expect Crocs, Inc. (NASDAQ:CROX) to post sales of $187.35 million for the current quarter, according to Zacks. Two analysts have issued estimates for Crocs’ earnings, with the lowest sales estimate coming in at $187.10 million and the highest estimate coming in at $187.60 million. Crocs reported sales of $187.42 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0%. The company is expected to issue its next quarterly earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that Crocs will report full-year sales of $187.35 million for the current year. For the next fiscal year, analysts forecast that the firm will post sales of $1.01 billion per share, with estimates ranging from $999.60 million to $1.02 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Crocs.
CROX has been the topic of several research analyst reports. ValuEngine raised Crocs from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Pivotal Research initiated coverage on Crocs in a research note on Thursday, October 5th. They issued a “hold” rating and a $9.50 price objective on the stock. Zacks Investment Research lowered Crocs from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub lowered Crocs from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Finally, Susquehanna Bancshares Inc reissued a “positive” rating and set a $8.00 price target (up from $7.00) on shares of Crocs in a research note on Thursday, August 10th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $8.75.
Shares of Crocs (NASDAQ CROX) opened at $10.57 on Tuesday. Crocs has a 12 month low of $5.93 and a 12 month high of $10.86.
Institutional investors and hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of Crocs by 60.8% during the second quarter. Russell Investments Group Ltd. now owns 270,775 shares of the textile maker’s stock worth $2,088,000 after acquiring an additional 102,378 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Crocs by 18.2% during the second quarter. Renaissance Technologies LLC now owns 2,515,710 shares of the textile maker’s stock worth $19,396,000 after acquiring an additional 388,074 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of Crocs during the second quarter worth about $933,000. Morgan Stanley raised its position in shares of Crocs by 37.6% during the first quarter. Morgan Stanley now owns 1,327,853 shares of the textile maker’s stock worth $9,388,000 after acquiring an additional 362,712 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Crocs by 110.3% during the first quarter. UBS Asset Management Americas Inc. now owns 29,938 shares of the textile maker’s stock worth $212,000 after acquiring an additional 15,699 shares during the last quarter. Institutional investors own 89.80% of the company’s stock.
Crocs Company Profile
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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