Crocs (NASDAQ:CROX) Releases FY 2022 Earnings Guidance

Crocs (NASDAQ:CROXGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $9.50-$10.30 for the period, compared to the consensus earnings per share estimate of $10.35. The company issued revenue guidance of $3.40 billion-$3.50 billion, compared to the consensus revenue estimate of $3.47 billion. Crocs also updated its FY22 guidance to $9.50-10.30 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CROX. Piper Sandler reduced their price objective on shares of Crocs from $120.00 to $90.00 and set an overweight rating for the company in a research note on Tuesday, July 26th. Stifel Nicolaus cut their price target on shares of Crocs from $59.00 to $54.00 in a research note on Wednesday, July 20th. Wedbush began coverage on shares of Crocs in a research note on Thursday, April 28th. They issued an outperform rating and a $90.00 price objective for the company. Loop Capital raised shares of Crocs from a hold rating to a buy rating and upped their price objective for the company from $52.42 to $75.00 in a research note on Tuesday, July 5th. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $90.00 price objective on shares of Crocs in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Crocs currently has a consensus rating of Moderate Buy and a consensus target price of $94.25.

Crocs Trading Up 6.6 %

NASDAQ:CROX traded up $4.53 during midday trading on Friday, reaching $73.61. 3,329,476 shares of the stock traded hands, compared to its average volume of 1,908,124. The company has a fifty day moving average of $57.01 and a 200 day moving average of $70.46. Crocs has a 12 month low of $46.08 and a 12 month high of $183.88. The company has a debt-to-equity ratio of 5.58, a quick ratio of 1.19 and a current ratio of 1.94. The stock has a market capitalization of $4.53 billion, a P/E ratio of 8.40, a PEG ratio of 0.45 and a beta of 2.02.

Crocs (NASDAQ:CROXGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The textile maker reported $3.24 EPS for the quarter, topping the consensus estimate of $2.73 by $0.51. Crocs had a net margin of 19.08% and a return on equity of 202.79%. The business had revenue of $964.60 million during the quarter, compared to analyst estimates of $938.93 million. During the same period in the prior year, the business earned $2.23 EPS. The company’s revenue for the quarter was up 50.6% on a year-over-year basis. On average, research analysts predict that Crocs will post 10.22 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Anne Mehlman acquired 2,600 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was acquired at an average cost of $54.91 per share, for a total transaction of $142,766.00. Following the acquisition, the chief financial officer now owns 121,153 shares of the company’s stock, valued at $6,652,511.23. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Crocs news, CFO Anne Mehlman purchased 2,600 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was bought at an average cost of $54.91 per share, for a total transaction of $142,766.00. Following the purchase, the chief financial officer now directly owns 121,153 shares in the company, valued at $6,652,511.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas J. Smach purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was acquired at an average price of $49.99 per share, with a total value of $249,950.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at $499,900. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 17,600 shares of company stock worth $947,066. 2.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Crocs

Several institutional investors have recently bought and sold shares of CROX. BlackRock Inc. boosted its holdings in shares of Crocs by 3.9% during the 1st quarter. BlackRock Inc. now owns 6,646,713 shares of the textile maker’s stock valued at $507,811,000 after acquiring an additional 247,828 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Crocs by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 5,836,304 shares of the textile maker’s stock valued at $445,893,000 after acquiring an additional 226,669 shares during the last quarter. State Street Corp boosted its holdings in shares of Crocs by 1.9% in the first quarter. State Street Corp now owns 1,855,715 shares of the textile maker’s stock worth $141,777,000 after buying an additional 34,835 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Crocs by 16.1% in the first quarter. Wellington Management Group LLP now owns 991,024 shares of the textile maker’s stock worth $75,715,000 after buying an additional 137,493 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Crocs by 2.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 651,195 shares of the textile maker’s stock worth $49,752,000 after buying an additional 12,489 shares during the last quarter. 90.14% of the stock is owned by hedge funds and other institutional investors.

Crocs Company Profile

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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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