FY2023 EPS Estimates for Crocs, Inc. Lowered by B. Riley (NASDAQ:CROX)

Crocs, Inc. (NASDAQ:CROX – Get Rating) – Analysts at B. Riley lowered their FY2023 earnings estimates for shares of Crocs in a report released on Thursday, May 18th. B. Riley analyst J. Lick now forecasts that the textile maker will post earnings per share of $11.27 for the year, down from their prior forecast of $11.35. The consensus estimate for Crocs’ current full-year earnings is $11.53 per share. B. Riley also issued estimates for Crocs’ Q3 2024 earnings at $3.49 EPS.

Crocs (NASDAQ:CROX – Get Rating) last posted its earnings results on Thursday, April 27th. The textile maker reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.46. The business had revenue of $884.20 million for the quarter, compared to analyst estimates of $857.76 million. Crocs had a net margin of 16.33% and a return on equity of 98.41%. The business’s quarterly revenue was up 33.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.05 EPS.

Several other research firms have also weighed in on CROX. Stifel Nicolaus lifted their target price on shares of Crocs from $133.00 to $150.00 and gave the company a “hold” rating in a report on Friday, April 21st. Robert W. Baird boosted their price objective on shares of Crocs from $175.00 to $185.00 in a report on Friday, April 28th. OTR Global upgraded shares of Crocs from a “mixed” rating to a “positive” rating in a report on Monday, April 17th. StockNews.com initiated coverage on shares of Crocs in a report on Thursday. They issued a “hold” rating on the stock. Finally, 500.com reiterated a “maintains” rating on shares of Crocs in a report on Friday, April 28th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

Crocs Stock Performance

NASDAQ:CROX opened at $109.00 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.01 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 0.67 and a beta of 1.94. The firm’s fifty day simple moving average is $124.23 and its 200 day simple moving average is $114.88. Crocs has a twelve month low of $46.08 and a twelve month high of $151.32.

Insider Transactions at Crocs

In other news, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $150.05, for a total value of $1,500,500.00. Following the completion of the sale, the chief executive officer now owns 89,748 shares of the company’s stock, valued at approximately $13,466,687.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Andrew Rees sold 10,000 shares of the business’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $150.05, for a total value of $1,500,500.00. Following the completion of the sale, the chief executive officer now owns 89,748 shares of the company’s stock, valued at approximately $13,466,687.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas J. Smach bought 3,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $113.15 per share, with a total value of $339,450.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $339,450. The disclosure for this purchase can be found here. Insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Crocs

Institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System raised its position in shares of Crocs by 0.9% during the 3rd quarter. Arizona State Retirement System now owns 16,733 shares of the textile maker’s stock worth $1,149,000 after purchasing an additional 146 shares during the period. NorthCrest Asset Manangement LLC raised its position in shares of Crocs by 1.4% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 7,100 shares of the textile maker’s stock worth $770,000 after purchasing an additional 100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Crocs by 13.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,246 shares of the textile maker’s stock worth $1,003,000 after purchasing an additional 1,098 shares during the period. Sigma Planning Corp raised its position in shares of Crocs by 1.8% during the 4th quarter. Sigma Planning Corp now owns 14,565 shares of the textile maker’s stock worth $1,579,000 after purchasing an additional 253 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Crocs during the 4th quarter worth approximately $81,000. 84.95% of the stock is owned by institutional investors.

Crocs Company Profile

(Get Rating)

Crocs, Inc engages in the design, development, manufacturing, worldwide marketing, sale, and distribution of casual footwear and accessories for men, women, and children. It operates through the following segments: North America, Asia Pacific, Europe, Middle East, Africa, and Latin America (EMEALA), and HEYDUDE Brand.