Crocs (NASDAQ:CROX) Issues Q2 2024 Earnings Guidance

Crocs (NASDAQ:CROX) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.400-3.550 for the period, compared to the consensus earnings per share estimate of 3.470. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Crocs also updated its FY 2024 guidance to 12.250-12.730 EPS.

Crocs Stock Performance

Crocs stock traded down $2.71 during trading on Wednesday, reaching $133.78. The company had a trading volume of 248,107 shares, compared to its average volume of 1,410,597. Crocs has a 52 week low of $74.00 and a 52 week high of $146.79. 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 market capitalization of $8.12 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 1.56 and a beta of 2.03. The firm’s 50-day simple moving average is $129.57 and its 200 day simple moving average is $109.82.

Crocs (NASDAQ:CROX) last released its earnings results on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, topping the consensus estimate of $2.25 by $0.77. The firm had revenue of $938.60 million for the quarter, compared to the consensus estimate of $884.29 million. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.61 earnings per share. Sell-side analysts forecast that Crocs will post 12.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CROX shares. Bank of America upped their price target on Crocs from $140.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. Raymond James increased their price objective on Crocs from $120.00 to $145.00 and gave the company a strong-buy rating in a report on Friday, February 16th. Wedbush reiterated an outperform rating and issued a $154.00 target price on shares of Crocs in a research report on Friday, May 3rd. Stifel Nicolaus raised their target price on shares of Crocs from $140.00 to $158.00 and gave the stock a buy rating in a report on Wednesday. Finally, B. Riley raised their price objective on Crocs from $95.00 to $122.00 and gave the company a neutral rating in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $150.25.

Insider Activity

In other news, Director John B. Replogle acquired 1,972 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the completion of the purchase, the director now directly owns 3,153 shares of the company’s stock, valued at approximately $399,642.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, President Michelle Poole sold 5,074 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $124.98, for a total transaction of $634,148.52. Following the transaction, the president now owns 52,966 shares in the company, valued at $6,619,690.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Replogle bought 1,972 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the completion of the acquisition, the director now directly owns 3,153 shares in the company, valued at $399,642.75. The disclosure for this purchase can be found here. Insiders sold a total of 39,867 shares of company stock valued at $4,786,276 over the last quarter. Company 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.