Crocs (NASDAQ:CROX) Updates FY 2024 Earnings Guidance

Crocs (NASDAQ:CROX) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 12.820-12.900 for the period, compared to the consensus estimate of 12.860. The company issued revenue guidance of $4.1 billion-$4.1 billion, compared to the consensus revenue estimate of $4.1 billion. Crocs also updated its Q4 guidance to $2.20-2.28 EPS.

Crocs Stock Down 0.1 %

Crocs stock traded down $0.07 during midday trading on Wednesday, hitting $111.51. 1,885,557 shares of the company’s stock were exchanged, compared to its average volume of 1,317,948. Crocs has a 12 month low of $74.00 and a 12 month high of $165.32. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.95 and a current ratio of 1.50. The company has a market cap of $6.62 billion, a PE ratio of 8.39, a P/E/G ratio of 1.35 and a beta of 1.99. The firm has a 50-day moving average of $137.69 and a two-hundred day moving average of $138.65.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Crocs in a research report on Monday, July 29th. UBS Group lowered their price target on shares of Crocs from $146.00 to $122.00 and set a “neutral” rating on the stock in a report on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $170.00 price objective on shares of Crocs in a research note on Friday, August 23rd. KeyCorp lowered their target price on shares of Crocs from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, StockNews.com raised Crocs from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.38.

Insider Activity

In related news, Director Douglas J. Treff sold 10,594 shares of Crocs stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $132.38, for a total transaction of $1,402,433.72. Following the completion of the sale, the director now owns 81,254 shares of the company’s stock, valued at $10,756,404.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director John B. Replogle purchased 1,996 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $123.96 per share, with a total value of $247,424.16. Following the transaction, the director now owns 7,064 shares of the company’s stock, valued at approximately $875,653.44. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the director now owns 81,254 shares of the company’s stock, valued at $10,756,404.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.72% of the company’s stock.

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.