Research Analysts Set Expectations for Crocs, Inc.’s FY2023 Earnings (NASDAQ:CROX)

Crocs, Inc. (NASDAQ:CROXFree Report) – Analysts at KeyCorp issued their FY2023 earnings per share estimates for Crocs in a report released on Tuesday, February 6th. KeyCorp analyst A. Owens anticipates that the textile maker will post earnings of $11.81 per share for the year. KeyCorp has a “Overweight” rating and a $130.00 price objective on the stock. The consensus estimate for Crocs’ current full-year earnings is $11.83 per share. KeyCorp also issued estimates for Crocs’ Q4 2023 earnings at $2.35 EPS, Q1 2024 earnings at $2.34 EPS, Q2 2024 earnings at $3.64 EPS, Q3 2024 earnings at $3.50 EPS, Q4 2024 earnings at $2.46 EPS, FY2024 earnings at $11.94 EPS and FY2025 earnings at $13.48 EPS.

A number of other research firms also recently issued reports on CROX. Wedbush raised their price target on Crocs from $96.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, December 1st. Bank of America initiated coverage on Crocs in a report on Tuesday, December 12th. They set a “buy” rating and a $128.00 price objective for the company. Raymond James increased their price target on shares of Crocs from $115.00 to $120.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 9th. Finally, Stifel Nicolaus increased their price target on shares of Crocs from $121.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $136.38.

View Our Latest Analysis on CROX

Crocs Stock Performance

Shares of Crocs stock opened at $99.97 on Thursday. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.51 and a quick ratio of 0.91. The stock has a market capitalization of $6.06 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 1.28 and a beta of 1.95. The business has a 50-day moving average of $100.75 and a 200 day moving average of $95.60. Crocs has a 12 month low of $74.00 and a 12 month high of $151.32.

Institutional Trading of Crocs

A number of institutional investors and hedge funds have recently modified their holdings of CROX. WIT Partners Advisory Pte. Ltd. acquired a new stake in shares of Crocs in the fourth quarter worth $266,431,000. Thrivent Financial for Lutherans lifted its stake in shares of Crocs by 4,533.9% in the second quarter. Thrivent Financial for Lutherans now owns 755,094 shares of the textile maker’s stock worth $84,903,000 after buying an additional 738,799 shares during the last quarter. Morgan Stanley lifted its stake in shares of Crocs by 97.9% in the fourth quarter. Morgan Stanley now owns 1,300,768 shares of the textile maker’s stock worth $141,042,000 after buying an additional 643,578 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Crocs by 278.9% in the first quarter. Two Sigma Advisers LP now owns 849,600 shares of the textile maker’s stock worth $107,423,000 after buying an additional 625,400 shares during the last quarter. Finally, Voss Capital LLC lifted its stake in shares of Crocs by 610.0% in the third quarter. Voss Capital LLC now owns 710,000 shares of the textile maker’s stock worth $62,643,000 after buying an additional 610,000 shares during the last quarter. 90.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Shannon Sisler sold 3,099 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $105.00, for a total transaction of $325,395.00. Following the transaction, the executive vice president now directly owns 31,458 shares of the company’s stock, valued at $3,303,090. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Crocs news, President Michelle Poole sold 7,121 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $103.00, for a total value of $733,463.00. Following the completion of the sale, the president now directly owns 73,808 shares of the company’s stock, valued at $7,602,224. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shannon Sisler sold 3,099 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $105.00, for a total transaction of $325,395.00. Following the completion of the sale, the executive vice president now directly owns 31,458 shares of the company’s stock, valued at $3,303,090. The disclosure for this sale can be found here. Insiders have sold 14,092 shares of company stock worth $1,485,514 over the last 90 days. 2.69% of the stock is owned by company insiders.

About Crocs

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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, slides, flips, wedges, platforms, socks, boots, shoe charms, and slippers under the Crocs brand name.

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Earnings History and Estimates for Crocs (NASDAQ:CROX)

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