Crocs, Inc. (NASDAQ:CROX) Expected to Post Quarterly Sales of $924.12 Million

Brokerages predict that Crocs, Inc. (NASDAQ:CROXGet Rating) will announce $924.12 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Crocs’ earnings. The highest sales estimate is $956.88 million and the lowest is $856.80 million. Crocs reported sales of $640.77 million during the same quarter last year, which indicates a positive year-over-year growth rate of 44.2%. The firm is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Crocs will report full year sales of $3.54 billion for the current fiscal year, with estimates ranging from $3.50 billion to $3.57 billion. For the next year, analysts anticipate that the business will post sales of $4.05 billion, with estimates ranging from $3.82 billion to $4.34 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Crocs.

Crocs (NASDAQ:CROXGet Rating) last issued its earnings results on Thursday, May 5th. The textile maker reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.49. The firm had revenue of $660.15 million for the quarter, compared to the consensus estimate of $621.81 million. Crocs had a return on equity of 206.72% and a net margin of 27.85%. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 earnings per share.

Several research firms have recently issued reports on CROX. Loop Capital downgraded Crocs from a “buy” rating to a “hold” rating and decreased their price target for the stock from $150.00 to $80.00 in a research note on Monday, April 4th. Robert W. Baird decreased their price target on Crocs from $200.00 to $120.00 in a research note on Thursday, May 12th. Wedbush began coverage on Crocs in a research note on Thursday, April 28th. They set an “outperform” rating and a $90.00 price target for the company. B. Riley decreased their price target on Crocs from $153.00 to $128.00 in a research note on Friday, May 6th. Finally, Stifel Nicolaus cut their price objective on Crocs from $101.00 to $59.00 in a research report on Friday, May 6th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Crocs has an average rating of “Buy” and an average target price of $128.10.

Shares of CROX traded down $4.77 during trading hours on Thursday, hitting $48.73. 1,995,076 shares of the company were exchanged, compared to its average volume of 1,892,852. The company has a market cap of $3.00 billion, a PE ratio of 4.39, a PEG ratio of 0.34 and a beta of 1.85. The firm’s 50 day moving average is $69.95 and its 200-day moving average is $104.98. Crocs has a 52 week low of $48.07 and a 52 week high of $183.88. The company has a debt-to-equity ratio of 8.17, a quick ratio of 1.19 and a current ratio of 1.96.

In related news, Director Ian Bickley bought 5,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The stock was acquired at an average cost of $58.24 per share, with a total value of $291,200.00. Following the acquisition, the director now owns 46,197 shares in the company, valued at approximately $2,690,513.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anne Mehlman bought 2,600 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was bought at an average cost of $54.91 per share, with a total value of $142,766.00. Following the completion of the acquisition, the chief financial officer now owns 121,153 shares in the company, valued at approximately $6,652,511.23. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 29,842 shares of company stock valued at $1,995,353. Insiders own 2.42% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its position in Crocs by 54.2% in the 1st quarter. FMR LLC now owns 2,846 shares of the textile maker’s stock valued at $73,000 after buying an additional 1,000 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Crocs by 17.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,844 shares of the textile maker’s stock valued at $265,000 after buying an additional 277 shares during the last quarter. CIBC Asset Management Inc boosted its position in Crocs by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,645 shares of the textile maker’s stock valued at $380,000 after buying an additional 86 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Crocs by 18.2% in the 3rd quarter. Teacher Retirement System of Texas now owns 10,547 shares of the textile maker’s stock valued at $1,513,000 after buying an additional 1,627 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in Crocs by 25.3% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 5,529 shares of the textile maker’s stock valued at $795,000 after buying an additional 1,115 shares during the last quarter. Institutional investors and hedge funds own 90.14% of the company’s stock.

About Crocs (Get Rating)

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name.

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Earnings History and Estimates for Crocs (NASDAQ:CROX)

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