Crocs (NASDAQ:CROX) Issues FY24 Earnings Guidance

Crocs (NASDAQ:CROX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $12.45 to $12.90 for the period, compared to the consensus EPS estimate of $12.64. The company issued revenue guidance of +3 to +5% yr/yr or $4.08 billion to $4.16 billion, compared to the consensus revenue estimate of $4.13 billion. Crocs also updated its FY 2024 guidance to 12.450-12.900 EPS.

Crocs Stock Performance

Shares of CROX stock opened at $126.71 on Thursday. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 1.47 and a beta of 2.00. Crocs has a 52 week low of $74.00 and a 52 week high of $165.32. The company has a quick ratio of 1.14, a current ratio of 1.76 and a debt-to-equity ratio of 1.08. The firm has a 50 day moving average of $145.90 and a 200-day moving average of $131.08.

Crocs (NASDAQ:CROX) last posted its quarterly earnings results on Tuesday, May 7th. The textile maker reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.77. Crocs had a net margin of 19.80% and a return on equity of 56.33%. The business had revenue of $938.60 million during the quarter, compared to the consensus estimate of $884.29 million. During the same quarter last year, the firm posted $2.61 EPS. Crocs’s revenue was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that Crocs will post 12.73 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on CROX. Monness Crespi & Hardt lifted their price target on shares of Crocs from $140.00 to $170.00 and gave the company a buy rating in a research report on Wednesday, May 8th. Wedbush reissued an outperform rating and issued a $170.00 price target on shares of Crocs in a research report on Monday. UBS Group reduced their price target on shares of Crocs from $148.00 to $146.00 and set a neutral rating for the company in a research report on Tuesday, July 16th. B. Riley lifted their price objective on shares of Crocs from $95.00 to $122.00 and gave the stock a neutral rating in a report on Wednesday, April 10th. Finally, Bank of America lifted their price objective on shares of Crocs from $160.00 to $187.00 and gave the stock a buy rating in a report on Thursday, June 20th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $152.82.

Insider Transactions at Crocs

In other news, CEO Andrew Rees sold 10,000 shares of Crocs stock in a transaction on Monday, June 17th. The stock was sold at an average price of $160.15, for a total transaction of $1,601,500.00. Following the sale, the chief executive officer now directly owns 79,748 shares in the company, valued at approximately $12,771,642.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Anne Mehlman sold 7,150 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $159.01, for a total value of $1,136,921.50. Following the sale, the executive vice president now directly owns 143,075 shares in the company, valued at approximately $22,750,355.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $160.15, for a total value of $1,601,500.00. Following the completion of the sale, the chief executive officer now owns 79,748 shares in the company, valued at $12,771,642.20. The disclosure for this sale can be found here. Insiders have sold 30,178 shares of company stock worth $4,597,445 in the last ninety days. Company insiders own 2.72% of the company’s stock.

Crocs Company Profile

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.