Crocs (NASDAQ:CROX) Updates FY24 Earnings Guidance

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

Crocs Stock Performance

Shares of NASDAQ:CROX traded up $1.05 during trading on Friday, hitting $140.75. 49,212 shares of the stock were exchanged, compared to its average volume of 1,407,581. Crocs has a 1-year low of $74.00 and a 1-year high of $146.79. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 1.56 and a beta of 2.03. The company’s fifty day simple moving average is $130.16 and its 200-day simple moving average is $110.21. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 1.30.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.77. The company had revenue of $938.60 million for the quarter, compared to analyst estimates of $884.29 million. Crocs had a return on equity of 61.97% and a net margin of 20.00%. Crocs’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.61 EPS. Sell-side analysts expect that Crocs will post 12.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CROX shares. Wedbush reiterated an outperform rating and issued a $154.00 target price on shares of Crocs in a research note on Friday, May 3rd. Raymond James lifted their price target on Crocs from $120.00 to $145.00 and gave the company a strong-buy rating in a report on Friday, February 16th. Williams Trading reissued a hold rating and set a $125.00 price objective (down previously from $135.00) on shares of Crocs in a report on Tuesday, April 16th. KeyCorp upped their target price on shares of Crocs from $130.00 to $149.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. Finally, B. Riley raised their price target on shares of Crocs from $95.00 to $122.00 and gave the company a neutral rating in a report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $150.42.

Insider Activity at Crocs

In other Crocs news, Director Ian Bickley sold 16,785 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $120.05, for a total value of $2,015,039.25. Following the sale, the director now directly 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 at the SEC website. In other Crocs news, Director John B. Replogle purchased 1,972 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 3,153 shares in the company, valued at approximately $399,642.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the director now directly owns 31,815 shares in the company, valued at approximately $3,819,390.75. The disclosure for this sale can be found here. Insiders have sold 39,867 shares of company stock worth $4,786,276 over the last ninety days. Company 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.