Crocs (NASDAQ:CROX) Releases Earnings Results, Beats Expectations By $0.42 EPS

Crocs (NASDAQ:CROX) announced its earnings results on Thursday. The textile maker reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.59 by $0.42, Briefing.com reports. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.10 billion. Crocs had a return on equity of 56.33% and a net margin of 19.80%. Crocs’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.59 earnings per share.

Crocs Stock Down 5.7 %

Shares of NASDAQ CROX traded down $7.50 during mid-day trading on Friday, reaching $123.31. 2,195,155 shares of the company traded hands, compared to its average volume of 1,385,399. The company’s fifty day moving average is $145.52 and its two-hundred day moving average is $131.10. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $165.32. The stock has a market cap of $7.48 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 1.49 and a beta of 2.00. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.14 and a current ratio of 1.76.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CROX shares. Barclays lowered their price target on Crocs from $169.00 to $164.00 and set an “overweight” rating on the stock in a report on Friday. Bank of America boosted their target price on Crocs from $160.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Wedbush restated an “outperform” rating and issued a $170.00 target price on shares of Crocs in a research note on Monday. OTR Global upgraded Crocs from a “mixed” rating to a “positive” rating in a research note on Thursday, April 11th. Finally, B. Riley boosted their target price on Crocs from $95.00 to $122.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $154.09.

Insider Activity at Crocs

In related news, Director Thomas J. Smach sold 10,174 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $140.32, for a total transaction of $1,427,615.68. Following the completion of the sale, the director now owns 115,339 shares in the company, valued at approximately $16,184,368.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Thomas J. Smach sold 10,174 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $140.32, for a total transaction of $1,427,615.68. Following the completion of the transaction, the director now owns 115,339 shares in the company, valued at approximately $16,184,368.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Rees sold 10,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $160.15, for a total value of $1,601,500.00. Following the sale, the chief executive officer now directly owns 79,748 shares of the company’s stock, valued at $12,771,642.20. The disclosure for this sale can be found here. Insiders sold a total of 30,178 shares of company stock worth $4,597,445 in the last 90 days. 2.72% of the stock is owned by company 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.