Crocs (NASDAQ:CROX) Releases FY24 Earnings Guidance

Crocs (NASDAQ:CROX) updated its FY24 earnings guidance on Tuesday. 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.

Crocs Stock Performance

NASDAQ CROX opened at $126.63 on Tuesday. The company’s fifty day moving average is $129.26 and its two-hundred day moving average is $109.47. 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 firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 9.89, a P/E/G ratio of 1.56 and a beta of 2.03.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays started coverage on shares of Crocs in a research note on Monday, April 1st. They set an overweight rating and a $167.00 price target on the stock. Raymond James lifted their target price on shares of Crocs from $120.00 to $145.00 and gave the company a strong-buy rating in a research report on Friday, February 16th. OTR Global raised shares of Crocs from a mixed rating to a positive rating in a research report on Thursday, April 11th. KeyCorp upped their price objective on Crocs from $130.00 to $149.00 and gave the company an overweight rating in a research note on Thursday, March 21st. Finally, UBS Group increased their target price on Crocs from $117.00 to $124.00 and gave the stock a neutral rating in a report on Tuesday, April 23rd. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $144.64.

Insiders Place Their Bets

In other news, President Michelle Poole sold 4,793 shares of the firm’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 completion of the sale, the president now directly owns 64,912 shares in the company, valued at $7,734,264.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director John B. Replogle acquired 1,972 shares of Crocs stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $126.75 per share, with a total value of $249,951.00. Following the acquisition, the director now owns 3,153 shares in the company, valued at $399,642.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Michelle Poole sold 4,793 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $119.15, for a total value of $571,085.95. Following the completion of the transaction, 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 quarter, insiders have sold 39,867 shares of company stock valued at $4,786,276. 2.72% of the stock is currently owned by corporate 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.