Crocs (NASDAQ:CROX) Releases FY24 Earnings Guidance

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

Crocs Price Performance

Shares of CROX stock traded up $1.05 during mid-day trading on Friday, hitting $140.75. 49,212 shares of the stock were exchanged, compared to its average volume of 1,407,581. Crocs has a 52-week low of $74.00 and a 52-week high of $146.79. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. The company has a market cap of $8.54 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.56 and a beta of 2.03. The firm has a fifty day moving average of $130.16 and a 200 day moving average of $110.21.

Crocs (NASDAQ:CROX) last issued its quarterly 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. 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 analyst estimates of $884.29 million. During the same quarter in the previous year, the firm earned $2.61 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that Crocs will post 12.44 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on CROX shares. Raymond James lifted their price target on Crocs from $120.00 to $145.00 and gave the stock a strong-buy rating in a research note on Friday, February 16th. KeyCorp boosted their target price on shares of Crocs from $130.00 to $149.00 and gave the company an overweight rating in a report on Thursday, March 21st. Williams Trading reaffirmed a hold rating and set a $125.00 price target (down previously from $135.00) on shares of Crocs in a research report on Tuesday, April 16th. Bank of America increased their price objective on Crocs from $140.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. Finally, Monness Crespi & Hardt lifted their target price on Crocs from $140.00 to $170.00 and gave the company a buy rating in a research report on Wednesday. Four 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $150.42.

Insider Activity at Crocs

In other Crocs news, Director Ian Bickley sold 16,785 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $120.05, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Ian Bickley sold 16,785 shares of Crocs 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 completion of the transaction, the director now 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 accessible through this link. Also, EVP Daniel P. Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $118.48, for a total transaction of $1,184,800.00. Following the sale, the executive vice president now owns 219,293 shares in the company, valued at $25,981,834.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,867 shares of company stock worth $4,786,276. Corporate 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.