Wall Street brokerages forecast that Crocs, Inc. (NASDAQ:CROX) will announce sales of $236.90 million for the current quarter, Zacks reports. Two analysts have issued estimates for Crocs’ earnings, with the highest sales estimate coming in at $237.00 million and the lowest estimate coming in at $236.80 million. Crocs posted sales of $245.89 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.7%. The firm is expected to report its next earnings report before the market opens on Tuesday, November 7th.
According to Zacks, analysts expect that Crocs will report full year sales of $236.90 million for the current financial year, with estimates ranging from $1.01 billion to $1.02 billion. For the next fiscal year, analysts expect that the company will post sales of $1.04 billion per share, with estimates ranging from $1.04 billion to $1.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Crocs.
Crocs (NASDAQ:CROX) last issued its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12. Crocs had a negative net margin of 0.91% and a negative return on equity of 3.36%. The company had revenue of $313.20 million during the quarter, compared to the consensus estimate of $311.33 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was down 3.3% on a year-over-year basis.
CROX has been the subject of a number of recent research reports. ValuEngine upgraded shares of Crocs from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. BidaskClub upgraded shares of Crocs from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Piper Jaffray Companies reiterated a “hold” rating and issued a $9.00 price target on shares of Crocs in a research note on Wednesday, August 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $8.00 price target (up previously from $7.00) on shares of Crocs in a research note on Saturday, July 22nd. Finally, Pivotal Research initiated coverage on shares of Crocs in a research note on Thursday, October 5th. They issued a “hold” rating and a $9.50 price target for the company. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $8.75.
Large investors have recently modified their holdings of the company. Tudor Investment Corp ET AL purchased a new stake in shares of Crocs during the 2nd quarter worth approximately $100,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Crocs during the 2nd quarter worth approximately $110,000. State of Alaska Department of Revenue lifted its position in shares of Crocs by 79.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 14,623 shares of the textile maker’s stock worth $112,000 after buying an additional 6,453 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Crocs by 12.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,814 shares of the textile maker’s stock worth $114,000 after buying an additional 1,586 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Crocs during the 1st quarter worth approximately $113,000. Institutional investors and hedge funds own 88.60% of the company’s stock.
Shares of Crocs (CROX) traded down $0.88 during trading on Wednesday, reaching $9.14. 2,140,000 shares of the company were exchanged, compared to its average volume of 1,040,557. Crocs has a one year low of $5.93 and a one year high of $10.80.
Crocs, Inc is engaged in the design, development, manufacturing, marketing, distribution and sale of casual lifestyle footwear and accessories for men, women, and children. The Company’s segments include Americas, Asia Pacific and Europe. Its products include footwear and accessories that utilize its closed-cell resin, called Croslite, as well as casual lifestyle footwear that use a range of materials.
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