Equities analysts expect that Crocs, Inc. (NASDAQ:CROX) will report $352.53 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Crocs’ earnings. The highest sales estimate is $356.00 million and the lowest is $347.30 million. Crocs reported sales of $328.00 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The company is scheduled to announce its next earnings report on Tuesday, August 6th.
On average, analysts expect that Crocs will report full-year sales of $1.15 billion for the current financial year, with estimates ranging from $1.15 billion to $1.16 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.23 billion, with estimates ranging from $1.21 billion to $1.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Crocs.
Crocs (NASDAQ:CROX) last posted its quarterly earnings data on Tuesday, May 7th. The textile maker reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.11. Crocs had a return on equity of 27.23% and a net margin of 4.27%. The firm had revenue of $295.95 million during the quarter, compared to the consensus estimate of $288.72 million. During the same period in the prior year, the company earned $0.15 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year.
A number of brokerages have issued reports on CROX. Pivotal Research reaffirmed a “buy” rating and issued a $35.00 target price (up from $33.00) on shares of Crocs in a research note on Tuesday, January 15th. BidaskClub downgraded Crocs from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 14th. Monness Crespi & Hardt raised Crocs from a “neutral” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Thursday, February 28th. ValuEngine downgraded Crocs from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research downgraded Crocs from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Crocs currently has a consensus rating of “Buy” and a consensus target price of $27.63.
NASDAQ CROX opened at $24.39 on Thursday. Crocs has a one year low of $15.21 and a one year high of $31.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.06 and a quick ratio of 1.39. The firm has a market capitalization of $1.88 billion, a P/E ratio of 28.36, a PEG ratio of 1.74 and a beta of 0.66.
Crocs announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the textile maker to repurchase up to 25.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Crocs news, Director Thomas J. Smach sold 10,000 shares of the firm’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $26.71, for a total value of $267,100.00. Following the completion of the sale, the director now directly owns 135,262 shares of the company’s stock, valued at approximately $3,612,848.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of CROX. Oregon Public Employees Retirement Fund grew its holdings in shares of Crocs by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,871 shares of the textile maker’s stock worth $666,000 after purchasing an additional 467 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of Crocs by 26.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,282 shares of the textile maker’s stock worth $85,000 after purchasing an additional 679 shares during the period. Mason Street Advisors LLC grew its holdings in shares of Crocs by 3.3% during the 1st quarter. Mason Street Advisors LLC now owns 21,433 shares of the textile maker’s stock worth $552,000 after purchasing an additional 688 shares during the period. Piedmont Investment Advisors Inc. grew its holdings in shares of Crocs by 5.1% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 16,703 shares of the textile maker’s stock worth $430,000 after purchasing an additional 816 shares during the period. Finally, Texas Permanent School Fund grew its holdings in shares of Crocs by 2.0% during the 4th quarter. Texas Permanent School Fund now owns 43,714 shares of the textile maker’s stock worth $1,136,000 after purchasing an additional 869 shares during the period. 97.21% of the stock is owned by institutional investors and hedge funds.
Crocs Company Profile
Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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