B. Riley Weighs in on Crocs, Inc.’s FY2017 Earnings (CROX)
Crocs, Inc. (NASDAQ:CROX) – Stock analysts at B. Riley lifted their FY2017 EPS estimates for shares of Crocs in a report issued on Thursday. B. Riley analyst M. Kummetz now expects that the textile maker will post earnings of $0.01 per share for the year, up from their prior estimate of ($0.01). B. Riley currently has a “Neutral” rating and a $8.00 target price on the stock. B. Riley also issued estimates for Crocs’ Q4 2017 earnings at ($0.38) EPS, FY2018 earnings at $0.25 EPS and FY2019 earnings at $0.52 EPS.
CROX has been the subject of several other reports. Monness Crespi & Hardt cut shares of Crocs from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 31st. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $6.00 target price on shares of Crocs in a research note on Thursday, March 2nd. Zacks Investment Research lowered shares of Crocs from a “hold” rating to a “strong sell” rating in a research note on Friday, March 3rd. Finally, Piper Jaffray Companies set a $7.00 target price on shares of Crocs and gave the stock a “hold” rating in a research note on Wednesday, March 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.10.
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Shares of Crocs (NASDAQ:CROX) traded down 3.0519% during trading on Monday, reaching $6.3501. 135,278 shares of the company’s stock were exchanged. The stock’s market cap is $470.54 million. Crocs has a 52-week low of $5.93 and a 52-week high of $12.54. The stock’s 50 day moving average price is $6.43 and its 200-day moving average price is $7.00.
Crocs (NASDAQ:CROX) last announced its quarterly earnings data on Wednesday, May 10th. The textile maker reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.08. Crocs had a negative net margin of 4.35% and a negative return on equity of 10.92%. The firm had revenue of $267.90 million for the quarter, compared to analysts’ expectations of $258.10 million. During the same period last year, the firm earned $0.07 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its position in Crocs by 3.5% in the third quarter. Aperio Group LLC now owns 14,041 shares of the textile maker’s stock worth $117,000 after buying an additional 479 shares during the period. BlackRock Fund Advisors raised its position in Crocs by 7.5% in the third quarter. BlackRock Fund Advisors now owns 5,137,108 shares of the textile maker’s stock worth $42,638,000 after buying an additional 359,239 shares during the period. New York State Common Retirement Fund raised its position in Crocs by 184.1% in the third quarter. New York State Common Retirement Fund now owns 207,707 shares of the textile maker’s stock worth $1,724,000 after buying an additional 134,607 shares during the period. Municipal Employees Retirement System of Michigan raised its position in Crocs by 1.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 16,340 shares of the textile maker’s stock worth $136,000 after buying an additional 200 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Crocs during the third quarter worth $260,000. 89.19% of the stock is currently owned by hedge funds and other institutional investors.
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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