Q1 2024 Earnings Forecast for Crocs, Inc. Issued By B. Riley (NASDAQ:CROX)

Crocs, Inc. (NASDAQ:CROX) – Equities researchers at B. Riley reduced their Q1 2024 earnings per share estimates for Crocs in a note issued to investors on Tuesday, April 9th. B. Riley analyst J. Lick now expects that the textile maker will earn $2.33 per share for the quarter, down from their previous forecast of $2.34. B. Riley has a “Neutral” rating and a $122.00 price objective on the stock. The consensus estimate for Crocs’ current full-year earnings is $12.44 per share. B. Riley also issued estimates for Crocs’ Q2 2024 earnings at $3.79 EPS, FY2024 earnings at $12.43 EPS, Q2 2025 earnings at $3.92 EPS, Q3 2025 earnings at $3.72 EPS, Q4 2025 earnings at $2.90 EPS and FY2025 earnings at $13.04 EPS.

CROX has been the subject of a number of other research reports. Barclays started coverage on shares of Crocs in a research report on Monday, April 1st. They issued an “overweight” rating and a $167.00 target price for the company. Bank of America boosted their target price on shares of Crocs from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Stifel Nicolaus boosted their target price on shares of Crocs from $132.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, February 16th. OTR Global raised shares of Crocs from a “mixed” rating to a “positive” rating in a research report on Thursday. Finally, Piper Sandler upped their price objective on shares of Crocs from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $149.30.

Crocs Trading Up 0.9 %

Shares of Crocs stock opened at $129.41 on Thursday. The firm has a 50-day moving average of $124.59 and a 200-day moving average of $104.58. The stock has a market cap of $7.83 billion, a PE ratio of 10.10, a PEG ratio of 1.67 and a beta of 2.01. Crocs has a 52-week low of $74.00 and a 52-week high of $151.32. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.75 and a current ratio of 1.30.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Thursday, February 15th. The textile maker reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.20. The business had revenue of $960.10 million during the quarter, compared to analysts’ expectations of $958.39 million. Crocs had a return on equity of 61.97% and a net margin of 20.00%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $2.65 EPS.

Institutional Trading of Crocs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rheos Capital Works Inc. acquired a new stake in Crocs during the 1st quarter valued at approximately $22,720,000. Alaska Permanent Fund Corp increased its position in Crocs by 282.2% during the 1st quarter. Alaska Permanent Fund Corp now owns 15,478 shares of the textile maker’s stock valued at $2,226,000 after purchasing an additional 11,428 shares during the period. Rise Advisors LLC acquired a new stake in Crocs during the 1st quarter valued at approximately $25,000. Mather Group LLC. bought a new position in shares of Crocs during the 1st quarter worth approximately $255,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Crocs by 46.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 770,281 shares of the textile maker’s stock worth $71,952,000 after buying an additional 245,240 shares in the last quarter. Institutional investors and hedge funds own 93.44% of the company’s stock.

Insiders Place Their Bets

In other Crocs news, EVP Daniel P. Hart sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $118.48, for a total transaction of $1,184,800.00. Following the completion of the transaction, the executive vice president now owns 219,293 shares of the company’s stock, valued at $25,981,834.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Ian Bickley sold 3,215 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $118.57, for a total value of $381,202.55. Following the completion of the transaction, the director now owns 28,600 shares of the company’s stock, valued at $3,391,102. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel P. Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $118.48, for a total value of $1,184,800.00. Following the completion of the transaction, the executive vice president now directly owns 219,293 shares of the company’s stock, valued at approximately $25,981,834.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,867 shares of company stock valued at $4,786,276. 2.69% of the stock is currently owned by corporate insiders.

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.