Crocs, Inc. (CROX) Releases Earnings Results, Beats Estimates By $0.12 EPS
Crocs, Inc. (NASDAQ:CROX) released its quarterly earnings results on Wednesday. The textile maker reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.12, Morningstar.com reports. The firm had revenue of $313.20 million for the quarter, compared to the consensus estimate of $311.33 million. Crocs had a negative return on equity of 4.89% and a negative net margin of 1.52%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS.
Shares of Crocs (NASDAQ CROX) traded up 5.07% during trading on Wednesday, reaching $8.50. The company had a trading volume of 3,459,882 shares. Crocs has a 1-year low of $5.93 and a 1-year high of $9.16. The stock’s market capitalization is $629.71 million. The company’s 50 day moving average is $7.64 and its 200-day moving average is $6.96.
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A number of research firms have recently issued reports on CROX. Stifel Nicolaus restated a “hold” rating and issued a $8.00 price target (up from $7.00) on shares of Crocs in a research note on Saturday, July 22nd. Piper Jaffray Companies restated a “hold” rating and issued a $7.00 price target on shares of Crocs in a research note on Friday, July 14th. BidaskClub downgraded Crocs from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. TheStreet raised Crocs from a “d” rating to a “c-” rating in a report on Wednesday, June 21st. Finally, B. Riley reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Crocs in a report on Saturday, May 13th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Crocs has a consensus rating of “Hold” and a consensus price target of $7.50.
A number of hedge funds have recently added to or reduced their stakes in CROX. Princeton Alpha Management LP increased its stake in Crocs by 35.0% in the first quarter. Princeton Alpha Management LP now owns 25,731 shares of the textile maker’s stock worth $182,000 after buying an additional 6,675 shares during the last quarter. Boston Partners increased its stake in Crocs by 27.2% in the first quarter. Boston Partners now owns 670,869 shares of the textile maker’s stock worth $4,743,000 after buying an additional 143,570 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in Crocs during the first quarter worth approximately $111,000. Great West Life Assurance Co. Can increased its stake in Crocs by 7.4% in the first quarter. Great West Life Assurance Co. Can now owns 106,681 shares of the textile maker’s stock worth $754,000 after buying an additional 7,353 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Crocs by 46.7% in the first quarter. Russell Investments Group Ltd. now owns 168,397 shares of the textile maker’s stock worth $1,190,000 after buying an additional 53,636 shares during the last quarter. Institutional investors own 90.18% 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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