Crocs, Inc. Expected to Earn Q3 2024 Earnings of $3.40 Per Share (NASDAQ:CROX)

Crocs, Inc. (NASDAQ:CROX) – Equities research analysts at Wedbush decreased their Q3 2024 earnings per share (EPS) estimates for shares of Crocs in a note issued to investors on Tuesday, May 7th. Wedbush analyst T. Nikic now anticipates that the textile maker will post earnings per share of $3.40 for the quarter, down from their previous forecast of $3.81. Wedbush has a “Outperform” rating and a $154.00 price target on the stock. The consensus estimate for Crocs’ current full-year earnings is $12.44 per share. Wedbush also issued estimates for Crocs’ Q4 2024 earnings at $2.69 EPS.

Several other equities research analysts have also recently commented on the company. Stifel Nicolaus raised their target price on Crocs from $140.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday. Raymond James boosted their target price on shares of Crocs from $120.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, February 16th. Piper Sandler raised their price target on shares of Crocs from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Bank of America increased their price objective on shares of Crocs from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Barclays upped their price target on Crocs from $167.00 to $169.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.42.

Crocs Stock Performance

Shares of Crocs stock opened at $139.70 on Friday. The company has a market cap of $8.48 billion, a P/E ratio of 10.91, a PEG ratio of 1.56 and a beta of 2.03. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 1.13. The business has a 50-day moving average price of $130.16 and a two-hundred day moving average price of $110.21. Crocs has a 1-year low of $74.00 and a 1-year high of $146.79.

Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.77. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The company had revenue of $938.60 million for the quarter, compared to analyst estimates of $884.29 million. During the same period in the previous year, the firm earned $2.61 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis.

Hedge Funds Weigh In On Crocs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CROX. V Square Quantitative Management LLC bought a new position in Crocs in the 1st quarter worth approximately $25,000. Rise Advisors LLC bought a new position in shares of Crocs in the first quarter worth $25,000. Byrne Asset Management LLC grew its position in shares of Crocs by 60.0% in the fourth quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Crocs by 185.0% during the 4th quarter. Blue Trust Inc. now owns 342 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 222 shares during the period. Finally, Quest Partners LLC purchased a new stake in Crocs during the 4th quarter worth about $53,000. Institutional investors own 93.44% of the company’s stock.

Insider Transactions at Crocs

In other news, Director John B. Replogle acquired 1,972 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $126.75 per share, for a total transaction of $249,951.00. Following the purchase, the director now owns 3,153 shares in the company, valued at approximately $399,642.75. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other Crocs news, EVP Daniel P. Hart sold 10,000 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 219,293 shares in the company, valued at $25,981,834.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John B. Replogle acquired 1,972 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $126.75 per share, with a total value of $249,951.00. Following the acquisition, the director now owns 3,153 shares in the company, valued at approximately $399,642.75. The disclosure for this purchase can be found here. Insiders sold a total of 39,867 shares of company stock worth $4,786,276 in the last quarter. 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.