Crocs (NASDAQ:CROX) Issues FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CROX. Bank of America boosted their price target on shares of Crocs from $140.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. KeyCorp upped their price target on shares of Crocs from $130.00 to $149.00 and gave the company an overweight rating in a research report on Thursday, March 21st. Barclays started coverage on Crocs in a research note on Monday, April 1st. They issued an overweight rating and a $167.00 price objective on the stock. UBS Group raised their target price on Crocs from $117.00 to $124.00 and gave the stock a neutral rating in a research note on Tuesday, April 23rd. Finally, Raymond James increased their price target on Crocs from $120.00 to $145.00 and gave the stock a strong-buy rating in a report on Friday, February 16th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Crocs presently has a consensus rating of Moderate Buy and an average price target of $144.64.

Crocs Stock Performance

Shares of CROX stock opened at $126.63 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13. The firm has a fifty day simple moving average of $129.26 and a two-hundred day simple moving average of $109.47. Crocs has a 12 month low of $74.00 and a 12 month high of $146.79. The firm has a market capitalization of $7.69 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 1.56 and a beta of 2.03.

Crocs (NASDAQ:CROX) last posted its earnings results on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, topping the consensus estimate of $2.22 by $0.80. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The company had revenue of $938.60 million during the quarter, compared to the consensus estimate of $884.29 million. During the same period in the previous year, the firm posted $2.61 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts forecast that Crocs will post 12.44 EPS for the current fiscal year.

Insider Activity

In other news, Director John B. Replogle bought 1,972 shares of Crocs stock in a transaction dated Thursday, March 14th. The stock was purchased at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the purchase, the director now directly owns 3,153 shares in the company, valued at approximately $399,642.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Ian Bickley sold 16,785 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Replogle acquired 1,972 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $126.75 per share, for a total transaction of $249,951.00. Following the completion of the acquisition, the director now owns 3,153 shares of the company’s stock, valued at $399,642.75. The disclosure for this purchase can be found here. Insiders have sold 39,867 shares of company stock worth $4,786,276 over the last 90 days. 2.72% of the stock is currently owned by corporate 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.