Crocs (NASDAQ:CROX) Issues Quarterly Earnings Results, Beats Expectations By $0.77 EPS

Crocs (NASDAQ:CROX) released its earnings results on Tuesday. The textile maker reported $3.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.77, Briefing.com reports. The business had revenue of $938.60 million during the quarter, compared to the consensus estimate of $884.29 million. Crocs had a net margin of 20.00% and a return on equity of 61.97%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.61 EPS. Crocs updated its Q2 guidance to $3.40-3.55 EPS and its FY24 guidance to $12.25-12.73 EPS.

Crocs Stock Up 3.2 %

Shares of NASDAQ:CROX opened at $139.70 on Friday. The business’s 50 day moving average is $130.16 and its 200 day moving average is $110.21. Crocs has a 12-month low of $74.00 and a 12-month high of $146.79. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.56 and a beta of 2.03. The company has a quick ratio of 0.75, a current ratio of 1.30 and a debt-to-equity ratio of 1.13.

Insider Activity at Crocs

In other news, President Michelle Poole sold 4,793 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $119.15, for a total value of $571,085.95. Following the completion of the sale, the president now owns 64,912 shares in the company, valued at approximately $7,734,264.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, President Michelle Poole sold 4,793 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $119.15, for a total value of $571,085.95. Following the transaction, the president now owns 64,912 shares in the company, valued at approximately $7,734,264.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Replogle purchased 1,972 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $126.75 per share, with a total value of $249,951.00. Following the completion of the transaction, the director now directly owns 3,153 shares of the company’s stock, valued at approximately $399,642.75. The disclosure for this purchase can be found here. In the last three months, insiders sold 39,867 shares of company stock valued at $4,786,276. 2.72% of the stock is owned by insiders.

Analysts Set New Price Targets

CROX has been the subject of a number of analyst reports. UBS Group lifted their target price on shares of Crocs from $124.00 to $148.00 and gave the stock a “neutral” rating in a research note on Wednesday. Monness Crespi & Hardt upped their target price on Crocs from $140.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday. Williams Trading reiterated a “hold” rating and issued a $125.00 target price (down from $135.00) on shares of Crocs in a report on Tuesday, April 16th. Stifel Nicolaus increased their price target on Crocs from $140.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Bank of America lifted their price objective on shares of Crocs from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $150.42.

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.