Crocs (NASDAQ:CROX) Updates FY24 Earnings Guidance

Crocs (NASDAQ:CROX) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $12.25-12.73 for the period, compared to the consensus EPS estimate of $12.47. Crocs also updated its Q2 guidance to $3.40-3.55 EPS.

Crocs Stock Performance

CROX stock traded up $4.00 during midday trading on Thursday, hitting $139.42. 603,386 shares of the company traded hands, compared to its average volume of 1,413,659. Crocs has a twelve month low of $74.00 and a twelve month high of $146.79. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 1.56 and a beta of 2.03. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. The business has a 50 day simple moving average of $129.81 and a 200-day simple moving average of $110.00.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Raymond James increased their price target on shares of Crocs from $120.00 to $145.00 and gave the company a strong-buy rating in a report on Friday, February 16th. B. Riley raised their price objective on Crocs from $95.00 to $122.00 and gave the stock a neutral rating in a research report on Wednesday, April 10th. Bank of America boosted their price objective on Crocs from $140.00 to $150.00 and gave the company a buy rating in a research report on Wednesday, March 20th. Stifel Nicolaus lifted their price target on shares of Crocs from $140.00 to $158.00 and gave the stock a buy rating in a research note on Wednesday. Finally, OTR Global upgraded shares of Crocs from a mixed rating to a positive rating in a research note on Thursday, April 11th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Crocs has a consensus rating of Moderate Buy and a consensus target price of $150.42.

Insiders Place Their Bets

In other Crocs news, Director John B. Replogle acquired 1,972 shares of Crocs stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $126.75 per share, with a total value of $249,951.00. Following the completion of the purchase, the director now owns 3,153 shares in the company, valued at $399,642.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Ian Bickley sold 16,785 shares of the firm’s stock in a transaction dated 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 in the company, valued at $3,819,390.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Replogle purchased 1,972 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $126.75 per share, with a total value of $249,951.00. Following the completion of the purchase, the director now owns 3,153 shares of the company’s stock, valued at $399,642.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 39,867 shares of company stock valued at $4,786,276. 2.72% of the stock is currently 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.