Crocs (CROX) Posts Earnings Results
Crocs (NASDAQ:CROX) posted its quarterly earnings results on Thursday. The textile maker reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09, MarketWatch Earnings reports. The business had revenue of $261.10 million for the quarter, compared to analyst estimates of $246.47 million. Crocs had a net margin of 2.29% and a return on equity of 13.84%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.03) EPS. Crocs updated its Q4 2018 guidance to EPS and its FY 2018 guidance to EPS.
NASDAQ CROX opened at $25.37 on Friday. The company has a market cap of $1.46 billion, a P/E ratio of -1,268.50, a PEG ratio of 5.29 and a beta of 0.61. Crocs has a 1 year low of $10.02 and a 1 year high of $28.20.
In related news, Director Thomas J. Smach sold 74,400 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $20.14, for a total value of $1,498,416.00. Following the completion of the transaction, the director now owns 125,262 shares of the company’s stock, valued at approximately $2,522,776.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel P. Hart sold 20,831 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $20.00, for a total transaction of $416,620.00. Following the completion of the transaction, the insider now directly owns 347,706 shares of the company’s stock, valued at approximately $6,954,120. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.
Several analysts recently issued reports on CROX shares. Pivotal Research upgraded shares of Crocs from a “hold” rating to a “buy” rating and increased their price target for the stock from $15.00 to $21.00 in a research report on Wednesday, July 25th. Zacks Investment Research upgraded shares of Crocs from a “hold” rating to a “strong-buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, August 8th. TheStreet upgraded shares of Crocs from a “c+” rating to a “b” rating in a research report on Thursday, August 9th. BidaskClub upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research report on Saturday, September 15th. Finally, Piper Jaffray Companies set a $23.00 price target on shares of Crocs and gave the stock a “buy” rating in a research report on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.14.
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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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