Crocs (NASDAQ:CROX) Issues FY 2022 Earnings Guidance

Crocs (NASDAQ:CROXGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $10.05-$10.65 for the period, compared to the consensus EPS estimate of $9.98. The company issued revenue guidance of $3.50 billion-$3.50 billion, compared to the consensus revenue estimate of $3.42 billion.Crocs also updated its Q2 2022 guidance to EPS.

Crocs stock traded down $5.43 during midday trading on Monday, reaching $55.44. The company’s stock had a trading volume of 75,196 shares, compared to its average volume of 1,858,145. The stock has a market cap of $3.41 billion, a PE ratio of 5.05, a price-to-earnings-growth ratio of 0.40 and a beta of 1.85. The company has a current ratio of 1.96, a quick ratio of 1.17 and a debt-to-equity ratio of 8.17. The business has a 50-day moving average price of $73.91 and a 200-day moving average price of $113.36. Crocs has a 52 week low of $59.57 and a 52 week high of $183.88.

Crocs (NASDAQ:CROXGet Rating) last released its quarterly earnings results on Thursday, May 5th. The textile maker reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.50. The company had revenue of $660.15 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the business posted $1.49 earnings per share. As a group, research analysts predict that Crocs will post 10.47 EPS for the current fiscal year.

CROX has been the topic of several research reports. TheStreet cut Crocs from a b- rating to a c+ rating in a report on Friday, February 4th. Robert W. Baird reduced their target price on Crocs from $200.00 to $120.00 and set an outperform rating on the stock in a report on Friday. Loop Capital lowered Crocs from a buy rating to a hold rating and dropped their price target for the company from $150.00 to $80.00 in a research note on Monday, April 4th. Seaport Res Ptn reissued a neutral rating on shares of Crocs in a research note on Tuesday, January 18th. Finally, StockNews.com lowered Crocs from a buy rating to a hold rating in a research report on Friday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average price target of $128.10.

In related news, Director Ronald Frasch acquired 3,250 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The shares were acquired at an average price of $77.02 per share, with a total value of $250,315.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Beth J. Kaplan acquired 1,430 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The shares were bought at an average cost of $69.63 per share, for a total transaction of $99,570.90. The disclosure for this purchase can be found here. Insiders have bought a total of 37,698 shares of company stock valued at $3,105,842 in the last quarter. 2.38% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the business. MML Investors Services LLC raised its holdings in shares of Crocs by 14.3% in the 4th quarter. MML Investors Services LLC now owns 3,722 shares of the textile maker’s stock valued at $477,000 after acquiring an additional 467 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Crocs in the 4th quarter worth approximately $74,000. Vident Investment Advisory LLC bought a new stake in shares of Crocs in the 4th quarter worth approximately $214,000. Zacks Investment Management bought a new stake in shares of Crocs in the 4th quarter worth approximately $277,000. Finally, Legal & General Group Plc lifted its holdings in shares of Crocs by 2.1% in the 4th quarter. Legal & General Group Plc now owns 108,931 shares of the textile maker’s stock worth $13,967,000 after acquiring an additional 2,216 shares during the last quarter. 90.14% of the stock is currently owned by hedge funds and other institutional investors.

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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