Crocs (CROX) Expected to Post Quarterly Sales of $271.55 Million

Equities research analysts expect Crocs (NASDAQ:CROX) to announce $271.55 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Crocs’ earnings, with estimates ranging from $270.10 million to $273.00 million. Crocs reported sales of $267.91 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.4%. The company is expected to issue its next earnings report on Wednesday, May 9th.

According to Zacks, analysts expect that Crocs will report full-year sales of $271.55 million for the current financial year, with estimates ranging from $1.01 billion to $1.03 billion. For the next year, analysts expect that the company will post sales of $1.06 billion per share, with estimates ranging from $1.05 billion to $1.06 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Crocs.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Wednesday, February 28th. The textile maker reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The company had revenue of $199.11 million during the quarter, compared to analyst estimates of $196.70 million. Crocs had a return on equity of 6.19% and a net margin of 1.00%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.58) earnings per share.



Several research firms have issued reports on CROX. Pivotal Research restated a “hold” rating and issued a $13.00 price target (up from $10.00) on shares of Crocs in a research report on Wednesday, January 10th. BidaskClub upgraded shares of Crocs from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 28th. ValuEngine upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Piper Jaffray upgraded shares of Crocs from a “neutral” rating to an “overweight” rating and set a $15.00 price target on the stock in a research report on Thursday, March 1st. Finally, Buckingham Research raised their price target on shares of Crocs from $7.00 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $11.00.

Several institutional investors have recently modified their holdings of CROX. Fox Run Management L.L.C. acquired a new stake in shares of Crocs during the 4th quarter valued at about $258,000. Investors Research Corp bought a new position in Crocs during the 4th quarter valued at about $265,000. Municipal Employees Retirement System of Michigan lifted its holdings in Crocs by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 27,800 shares of the textile maker’s stock valued at $270,000 after purchasing an additional 10,290 shares during the last quarter. Capital Fund Management S.A. bought a new position in Crocs during the 4th quarter valued at about $277,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Crocs by 197.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 31,249 shares of the textile maker’s stock valued at $303,000 after purchasing an additional 20,750 shares during the last quarter. Institutional investors and hedge funds own 99.81% of the company’s stock.

NASDAQ CROX traded down $0.17 during midday trading on Friday, hitting $16.75. The company had a trading volume of 998,066 shares, compared to its average volume of 1,115,740. The firm has a market capitalization of $1,157.05, a price-to-earnings ratio of -842.50, a P/E/G ratio of 3.74 and a beta of 0.30. Crocs has a fifty-two week low of $5.93 and a fifty-two week high of $17.43.

Crocs announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 28th that allows the company to buyback $431.00 million in outstanding shares. This buyback authorization allows the textile maker to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

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Crocs Company Profile

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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