Crocs (NASDAQ:CROX) Issues FY24 Earnings Guidance

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Williams Trading restated a hold rating and issued a $125.00 price objective (down from $135.00) on shares of Crocs in a report on Tuesday, April 16th. KeyCorp boosted their price target on shares of Crocs from $130.00 to $149.00 and gave the company an overweight rating in a report on Thursday, March 21st. Stifel Nicolaus increased their price objective on shares of Crocs from $140.00 to $158.00 and gave the company a buy rating in a research note on Wednesday. Piper Sandler boosted their price objective on shares of Crocs from $135.00 to $140.00 and gave the stock an overweight rating in a research note on Friday, February 16th. Finally, Wedbush reissued an outperform rating and issued a $154.00 price target on shares of Crocs in a report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Crocs currently has a consensus rating of Moderate Buy and a consensus target price of $150.42.

Crocs Stock Performance

Shares of NASDAQ CROX traded down $1.06 during trading on Wednesday, reaching $135.43. 920,478 shares of the company traded hands, compared to its average volume of 1,419,366. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13. Crocs has a 12-month low of $74.00 and a 12-month high of $146.79. The firm’s fifty day simple moving average is $129.57 and its 200 day simple moving average is $109.82. The stock has a market cap of $8.22 billion, a P/E ratio of 10.59, a PEG ratio of 1.56 and a beta of 2.03.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, beating the consensus estimate of $2.25 by $0.77. The firm had revenue of $938.60 million during 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 was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.61 EPS. As a group, research analysts anticipate that Crocs will post 12.44 earnings per share for the current fiscal year.

Insider Transactions at Crocs

In related news, EVP Daniel P. Hart sold 10,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $118.48, for a total value of $1,184,800.00. Following the completion of the sale, the executive vice president now directly owns 219,293 shares of the company’s stock, valued at approximately $25,981,834.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Daniel P. Hart sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $118.48, for a total value of $1,184,800.00. Following the sale, the executive vice president now directly owns 219,293 shares in the company, valued at $25,981,834.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ian Bickley sold 16,785 shares of the business’s stock in a transaction on Friday, February 16th. The shares were 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 of the company’s stock, valued at $3,819,390.75. 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.

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.