Equities research analysts predict that Crocs, Inc. (NASDAQ:CROX) will post ($0.42) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Crocs’ earnings, with the lowest EPS estimate coming in at ($0.43) and the highest estimate coming in at ($0.40). Crocs posted earnings per share of ($0.58) in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.6%. The company is expected to report its next earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Crocs will report full year earnings of ($0.02) per share for the current fiscal year, with EPS estimates ranging from ($0.09) to $0.10. For the next financial year, analysts forecast that the business will report earnings of $0.26 per share, with EPS estimates ranging from $0.20 to $0.36. Zacks’ earnings per share calculations are an average based on a survey of analysts that that provide coverage for Crocs.
Several analysts recently weighed in on the company. Piper Jaffray Companies restated a “hold” rating and issued a $9.00 price target on shares of Crocs in a research note on Wednesday, August 9th. ValuEngine upgraded Crocs from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. CL King downgraded Crocs from a “buy” rating to a “neutral” rating in a research note on Monday. Zacks Investment Research upgraded Crocs from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Monday, August 14th. Finally, BidaskClub downgraded Crocs from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Crocs has an average rating of “Hold” and an average price target of $8.75.
Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in Crocs by 60.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 270,775 shares of the textile maker’s stock valued at $2,088,000 after acquiring an additional 102,378 shares in the last quarter. Renaissance Technologies LLC lifted its position in Crocs by 18.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,515,710 shares of the textile maker’s stock valued at $19,396,000 after acquiring an additional 388,074 shares in the last quarter. WINTON GROUP Ltd bought a new position in Crocs in the 2nd quarter valued at approximately $933,000. Morgan Stanley lifted its position in Crocs by 37.6% in the 1st quarter. Morgan Stanley now owns 1,327,853 shares of the textile maker’s stock valued at $9,388,000 after acquiring an additional 362,712 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Crocs in the 2nd quarter valued at approximately $172,000. 89.80% of the stock is currently owned by institutional investors and hedge funds.
Crocs Company Profile
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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