Q3 2024 Earnings Estimate for Crocs, Inc. (NASDAQ:CROX) Issued By Wedbush

Crocs, Inc. (NASDAQ:CROX - Free Report) - Equities researchers at Wedbush decreased their Q3 2024 earnings estimates for Crocs in a research report issued to clients and investors on Sunday, May 12th. Wedbush analyst T. Nikic now forecasts that the textile maker will post earnings of $3.25 per share for the quarter, down from their prior forecast of $3.40. Wedbush currently has a "Outperform" rating and a $170.00 target price on the stock. The consensus estimate for Crocs' current full-year earnings is $12.57 per share.

Crocs (NASDAQ:CROX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The textile maker reported $3.02 EPS for the quarter, topping the consensus estimate of $2.25 by $0.77. Crocs had a return on equity of 56.33% and a net margin of 19.80%. The firm had revenue of $938.60 million during the quarter, compared to analyst estimates of $884.29 million. During the same period in the prior year, the business posted $2.61 EPS. Crocs's revenue was up 6.2% on a year-over-year basis.

CROX has been the subject of a number of other reports. Williams Trading reissued a "hold" rating and issued a $125.00 price objective (down from $135.00) on shares of Crocs in a research note on Tuesday, April 16th. Monness Crespi & Hardt boosted their price objective on Crocs from $140.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, May 8th. Stifel Nicolaus increased their target price on Crocs from $140.00 to $158.00 and gave the stock a "buy" rating in a research report on Wednesday, May 8th. UBS Group boosted their price target on Crocs from $124.00 to $148.00 and gave the stock a "neutral" rating in a report on Wednesday, May 8th. Finally, Piper Sandler increased their price objective on shares of Crocs from $135.00 to $140.00 and gave the company an "overweight" rating in a report on Friday, February 16th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Crocs has a consensus rating of "Moderate Buy" and an average price target of $151.75.

Crocs Stock Performance

Shares of CROX stock traded up $2.37 during trading hours on Tuesday, reaching $145.31. 1,371,199 shares of the company traded hands, compared to its average volume of 1,419,951. The firm has a 50-day moving average price of $131.36 and a 200 day moving average price of $111.75. The company has a market cap of $8.82 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.63 and a beta of 2.03. Crocs has a 12-month low of $74.00 and a 12-month high of $147.36. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.76 and a quick ratio of 1.14.

Insider Buying and Selling at Crocs

In other news, Director Ian Bickley sold 16,785 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the completion of the sale, the director now directly owns 31,815 shares of the company's stock, valued at $3,819,390.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Daniel P. Hart sold 10,000 shares of the company's stock in a transaction dated 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 sale, the executive vice president now directly owns 219,293 shares of the company's stock, valued at $25,981,834.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ian Bickley sold 16,785 shares of the firm's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $120.05, for a total transaction of $2,015,039.25. Following the transaction, the director now directly owns 31,815 shares in the company, valued at approximately $3,819,390.75. The disclosure for this sale can be found here. Insiders have sold 50,041 shares of company stock valued at $6,213,892 in the last quarter. 2.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Crocs

A number of hedge funds and other institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in shares of Crocs in the 1st quarter worth $25,000. Rise Advisors LLC bought a new stake in shares of Crocs in the 1st quarter valued at about $25,000. Byrne Asset Management LLC grew its position in shares of Crocs by 60.0% in the 4th quarter. Byrne Asset Management LLC now owns 320 shares of the textile maker's stock worth $30,000 after buying an additional 120 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Crocs by 185.0% during the 4th quarter. Blue Trust Inc. now owns 342 shares of the textile maker's stock worth $32,000 after acquiring an additional 222 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Crocs in the fourth quarter valued at approximately $53,000. 93.44% of the stock is currently owned by institutional investors.

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.