Crocs (NASDAQ:CROX) Issues Q4 Earnings Guidance

by · The Cerbat Gem

Crocs (NASDAQ:CROX – Get Free Report) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $2.20-2.28 for the period, compared to the consensus earnings per share estimate of $2.72. Crocs also updated its FY 2024 guidance to 12.820-12.900 EPS.

Crocs Stock Down 17.9 %

Shares of NASDAQ:CROX traded down $24.66 during midday trading on Tuesday, hitting $113.39. The stock had a trading volume of 5,967,282 shares, compared to its average volume of 1,299,947. The company has a quick ratio of 0.95, a current ratio of 1.50 and a debt-to-equity ratio of 0.93. The business’s 50-day simple moving average is $138.15 and its 200-day simple moving average is $138.75. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32. The company has a market cap of $6.73 billion, a P/E ratio of 8.53, a PEG ratio of 1.35 and a beta of 1.99.

Crocs (NASDAQ:CROX – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.59 by $0.42. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. Crocs had a net margin of 20.02% and a return on equity of 53.20%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.59 EPS. On average, sell-side analysts forecast that Crocs will post 12.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group cut their target price on Crocs from $148.00 to $146.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Williams Trading upgraded shares of Crocs from a “hold” rating to a “buy” rating and upped their price objective for the company from $135.00 to $163.00 in a report on Thursday, August 22nd. Wedbush reissued an “outperform” rating and issued a $170.00 price objective on shares of Crocs in a research note on Monday, July 29th. Raymond James lowered shares of Crocs from a “strong-buy” rating to an “outperform” rating and set a $164.00 price objective on the stock. in a research note on Friday, August 2nd. Finally, Barclays cut their price target on Crocs from $169.00 to $164.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Two 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.58.

Check Out Our Latest Stock Report on Crocs

Insider Buying and Selling

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

About Crocs

(Get Free Report)

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.

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