Crocs (NASDAQ:CROX) Issues Q4 Earnings Guidance

Crocs (NASDAQ:CROX) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $2.20-2.28 for the period, compared to the consensus EPS estimate of $2.72. Crocs also updated its FY 2024 guidance to 12.820-12.900 EPS.

Wall Street Analyst Weigh In

CROX has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Crocs from $164.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday. KeyCorp cut their price target on Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday. Robert W. Baird lowered their price objective on Crocs from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Wednesday. Monness Crespi & Hardt cut their target price on Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Williams Trading upgraded Crocs from a “hold” rating to a “buy” rating and upped their price target for the stock from $135.00 to $163.00 in a report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.38.

Crocs Stock Performance

Shares of NASDAQ CROX traded down $0.98 during mid-day trading on Wednesday, reaching $110.60. 2,172,032 shares of the company’s stock were exchanged, compared to its average volume of 1,318,950. The firm has a market capitalization of $6.57 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 firm has a 50-day moving average price of $137.69 and a two-hundred day moving average price of $138.65. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.50 and a quick ratio of 0.95. Crocs has a 52 week low of $74.00 and a 52 week high of $165.32.

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

Insider Buying and Selling at Crocs

In other Crocs news, Director Douglas J. Treff sold 10,594 shares of the business’s stock in a transaction 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 sale, the director now directly owns 81,254 shares in the company, valued at $10,756,404.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other 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 value of $1,402,433.72. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John B. Replogle purchased 1,996 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $123.96 per share, for a total transaction of $247,424.16. Following the completion of the purchase, the director now directly owns 7,064 shares in the company, valued at $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 corporate insiders.

About Crocs

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.