Crocs (NASDAQ:CROX) Updates FY 2024 Earnings Guidance

Crocs (NASDAQ:CROX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 12.820-12.900 for the period, compared to the consensus EPS 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 Price Performance

Shares of CROX opened at $138.05 on Tuesday. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $165.32. The firm’s 50-day simple moving average is $138.15 and its two-hundred day simple moving average is $138.75. The stock has a market cap of $8.38 billion, a PE ratio of 10.68, a price-to-earnings-growth ratio of 1.35 and a beta of 1.99. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.95 and a current ratio of 1.50.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Thursday, August 1st. The textile maker reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.59 by $0.42. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Crocs had a return on equity of 53.20% and a net margin of 20.02%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.59 EPS. Analysts anticipate that Crocs will post 12.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CROX has been the subject of several recent analyst reports. Barclays lowered their price target on Crocs from $169.00 to $164.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Guggenheim assumed coverage on shares of Crocs in a research note on Wednesday, October 9th. They issued a “buy” rating and a $182.00 target price on the stock. Piper Sandler reissued an “overweight” rating and set a $170.00 price target on shares of Crocs in a research report on Friday, August 23rd. Wedbush reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Crocs in a research report on Monday, July 29th. Finally, StockNews.com raised Crocs from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $162.58.

Insider Activity at Crocs

In other Crocs news, Director John B. Replogle purchased 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, for a total transaction of $247,424.16. Following the completion of the transaction, the director now owns 7,064 shares of the company’s stock, valued at approximately $875,653.44. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other 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 transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Replogle bought 1,996 shares of Crocs stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $123.96 per share, with a total value of $247,424.16. Following the completion of the acquisition, 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 currently owned by company insiders.

Crocs Company Profile

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.