KeyCorp Weighs in on Crocs’ FY2024 Earnings (NASDAQ:CROX)

Crocs, Inc. (NASDAQ:CROX) – Analysts at KeyCorp issued their FY2024 earnings per share (EPS) estimates for shares of Crocs in a research report issued to clients and investors on Wednesday, January 22nd. KeyCorp analyst A. Owens expects that the textile maker will post earnings per share of $12.91 for the year. KeyCorp currently has a “Overweight” rating and a $120.00 price target on the stock. The consensus estimate for Crocs’ current full-year earnings is $12.93 per share. KeyCorp also issued estimates for Crocs’ Q4 2024 earnings at $2.26 EPS and FY2025 earnings at $12.92 EPS.

A number of other brokerages have also commented on CROX. Loop Capital lowered Crocs from a “buy” rating to a “hold” rating and decreased their target price for the company from $150.00 to $110.00 in a research report on Thursday, November 7th. UBS Group cut their price objective on Crocs from $146.00 to $122.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Robert W. Baird dropped their price objective on Crocs from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Monness Crespi & Hardt lowered their price target on shares of Crocs from $170.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Barclays decreased their price objective on Crocs from $164.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.80.

Crocs Stock Up 1.1 %

Shares of Crocs stock opened at $103.56 on Monday. The stock’s 50-day moving average is $107.91 and its 200 day moving average is $122.33. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 1.79 and a beta of 1.95. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.43 and a quick ratio of 0.90. Crocs has a one year low of $94.50 and a one year high of $165.32.

Crocs (NASDAQ:CROX) last issued its quarterly earnings data on Tuesday, October 29th. The textile maker reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.50. Crocs had a return on equity of 49.70% and a net margin of 20.50%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the company earned $3.25 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year.

Insider Transactions at Crocs

In other news, CFO Susan L. Healy acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $99.70 per share, for a total transaction of $99,700.00. Following the completion of the transaction, the chief financial officer now owns 22,652 shares of the company’s stock, valued at $2,258,404.40. The trade was a 4.62 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Crossmark Global Holdings Inc. raised its stake in Crocs by 55.8% in the third quarter. Crossmark Global Holdings Inc. now owns 40,192 shares of the textile maker’s stock worth $5,820,000 after buying an additional 14,387 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Crocs by 585.5% in the third quarter. Meeder Asset Management Inc. now owns 24,349 shares of the textile maker’s stock worth $3,526,000 after purchasing an additional 20,797 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in shares of Crocs by 2,775.6% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 7,908 shares of the textile maker’s stock valued at $1,145,000 after purchasing an additional 7,633 shares during the period. Aigen Investment Management LP purchased a new position in shares of Crocs during the 3rd quarter worth $2,024,000. Finally, International Assets Investment Management LLC purchased a new stake in Crocs in the third quarter worth about $2,076,000. Institutional investors own 93.44% of the company’s stock.

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.