Crocs (NASDAQ:CROX) Releases Q2 Earnings Guidance

Crocs (NASDAQ:CROX) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $3.40-3.55 for the period, compared to the consensus EPS estimate of $3.48. Crocs also updated its FY24 guidance to $12.25-12.73 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CROX. Williams Trading reiterated a hold rating and set a $125.00 target price (down previously from $135.00) on shares of Crocs in a research note on Tuesday, April 16th. B. Riley boosted their target price on shares of Crocs from $95.00 to $122.00 and gave the stock a neutral rating in a research note on Wednesday, April 10th. Stifel Nicolaus boosted their target price on shares of Crocs from $140.00 to $158.00 and gave the stock a buy rating in a research note on Wednesday. Raymond James boosted their target price on shares of Crocs from $120.00 to $145.00 and gave the stock a strong-buy rating in a research note on Friday, February 16th. Finally, Piper Sandler boosted their price target on shares of Crocs from $135.00 to $140.00 and gave the company an overweight rating in a research report on Friday, February 16th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $150.42.

Crocs Stock Performance

Shares of NASDAQ:CROX traded up $4.00 on Thursday, reaching $139.42. The company’s stock had a trading volume of 603,386 shares, compared to its average volume of 1,413,659. The stock’s 50-day moving average is $129.81 and its two-hundred day moving average is $110.00. Crocs has a 52-week low of $74.00 and a 52-week high of $146.79. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 0.75. The stock has a market capitalization of $8.46 billion, a P/E ratio of 10.57, a PEG ratio of 1.56 and a beta of 2.03.

Crocs (NASDAQ:CROX) last announced its earnings results on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.77. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The business had revenue of $938.60 million during the quarter, compared to analysts’ expectations of $884.29 million. During the same period in the prior year, the company earned $2.61 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Crocs will post 12.44 EPS for the current year.

Insider Activity

In related news, President Michelle Poole sold 4,793 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $119.15, for a total transaction of $571,085.95. Following the completion of the transaction, the president now directly owns 64,912 shares of the company’s stock, valued at $7,734,264.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John B. Replogle acquired 1,972 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $126.75 per share, with a total value of $249,951.00. Following the purchase, the director now directly owns 3,153 shares of the company’s stock, valued at approximately $399,642.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michelle Poole sold 4,793 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $119.15, for a total value of $571,085.95. Following the sale, the president now owns 64,912 shares in the company, valued at $7,734,264.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,867 shares of company stock valued at $4,786,276. 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.