Piper Jaffray Companies Research Analysts Cut Earnings Estimates for Crocs, Inc. (CROX)
Crocs, Inc. (NASDAQ:CROX) – Equities research analysts at Piper Jaffray Companies dropped their Q4 2019 EPS estimates for shares of Crocs in a note issued to investors on Thursday, November 8th. Piper Jaffray Companies analyst E. Murphy now forecasts that the textile maker will post earnings of ($0.16) per share for the quarter, down from their previous estimate of ($0.14). Piper Jaffray Companies currently has a “Buy” rating and a $23.00 target price on the stock.
Crocs (NASDAQ:CROX) last announced its earnings results on Thursday, November 8th. The textile maker reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. The business had revenue of $261.10 million for the quarter, compared to the consensus estimate of $246.47 million. Crocs had a net margin of 3.08% and a return on equity of 17.27%. Crocs’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share.
Shares of Crocs stock opened at $26.55 on Monday. Crocs has a 52-week low of $10.17 and a 52-week high of $28.20. The company has a market capitalization of $1.70 billion, a PE ratio of 159.44, a PEG ratio of 4.91 and a beta of 0.61.
In related news, insider Daniel P. Hart sold 20,831 shares of Crocs stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $20.00, for a total value of $416,620.00. Following the sale, the insider now owns 347,706 shares in the company, valued at $6,954,120. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas J. Smach sold 74,400 shares of Crocs stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $20.14, for a total transaction of $1,498,416.00. Following the completion of the sale, the director now owns 125,262 shares in the company, valued at approximately $2,522,776.68. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc bought a new stake in Crocs in the second quarter valued at $137,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Crocs during the 3rd quarter valued at $171,000. Aperio Group LLC bought a new stake in shares of Crocs during the 2nd quarter valued at $179,000. Brown Advisory Inc. bought a new stake in shares of Crocs during the 1st quarter valued at $171,000. Finally, Amalgamated Bank bought a new stake in shares of Crocs during the 2nd quarter valued at $195,000. Institutional investors and hedge funds own 97.24% of the company’s stock.
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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