Q2 2024 EPS Estimates for Crocs, Inc. (NASDAQ:CROX) Raised by Wedbush

Crocs, Inc. (NASDAQ:CROX) – Equities researchers at Wedbush lifted their Q2 2024 earnings estimates for Crocs in a research report issued on Monday, July 29th. Wedbush analyst T. Nikic now expects that the textile maker will post earnings of $3.76 per share for the quarter, up from their prior estimate of $3.53. Wedbush has a “Outperform” rating and a $170.00 price objective on the stock. The consensus estimate for Crocs’ current full-year earnings is $12.73 per share. Wedbush also issued estimates for Crocs’ Q3 2024 earnings at $3.24 EPS, FY2024 earnings at $12.80 EPS and FY2025 earnings at $14.30 EPS.

Crocs (NASDAQ:CROX) last announced its quarterly earnings data 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 company had revenue of $938.60 million during the quarter, compared to analysts’ expectations of $884.29 million. During the same quarter in the prior year, the company earned $2.61 EPS. Crocs’s revenue was up 6.2% compared to the same quarter last year.

CROX has been the topic of a number of other reports. Bank of America raised their price objective on shares of Crocs from $160.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, June 20th. B. Riley raised their price objective on shares of Crocs from $95.00 to $122.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. OTR Global upgraded shares of Crocs from a “mixed” rating to a “positive” rating in a research note on Thursday, April 11th. Monness Crespi & Hardt lifted their price target on shares of Crocs from $140.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, Williams Trading reiterated a “hold” rating and set a $125.00 price target (down from $135.00) on shares of Crocs in a research note on Tuesday, April 16th. Four equities research 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.82.

Crocs Stock Performance

NASDAQ:CROX opened at $130.81 on Wednesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.14 and a current ratio of 1.76. The stock has a market capitalization of $7.94 billion, a P/E ratio of 10.12, a PEG ratio of 1.47 and a beta of 2.00. The company has a 50 day moving average price of $145.52 and a 200 day moving average price of $131.10. Crocs has a fifty-two week low of $74.00 and a fifty-two week high of $165.32.

Institutional Investors Weigh In On Crocs

Several institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in shares of Crocs in the first quarter valued at $25,000. Rise Advisors LLC bought a new position in Crocs during the 1st quarter valued at $25,000. Byrne Asset Management LLC boosted its stake in Crocs by 60.0% during the 4th quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 120 shares during the last quarter. Blue Trust Inc. boosted its stake in 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 acquiring an additional 222 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Crocs during the 4th quarter valued at $53,000. 93.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Crocs news, Director Thomas J. Smach sold 10,174 shares of Crocs stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $140.32, for a total transaction of $1,427,615.68. Following the completion of the transaction, the director now owns 115,339 shares in the company, valued at $16,184,368.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Thomas J. Smach sold 10,174 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $140.32, for a total value of $1,427,615.68. Following the completion of the transaction, the director now owns 115,339 shares of the company’s stock, valued at $16,184,368.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Anne Mehlman sold 7,150 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $159.01, for a total transaction of $1,136,921.50. Following the transaction, the executive vice president now directly owns 143,075 shares of the company’s stock, valued at approximately $22,750,355.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,178 shares of company stock worth $4,597,445. 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.