Zacks: Brokerages Anticipate Crocs, Inc. (CROX) Will Post Quarterly Sales of $245.10 Million

Brokerages expect Crocs, Inc. (NASDAQ:CROX) to post $245.10 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Crocs’ earnings. The highest sales estimate is $246.50 million and the lowest is $243.70 million. Crocs reported sales of $243.27 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.8%. The business is expected to announce its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Crocs will report full-year sales of $1.06 billion for the current financial year, with estimates ranging from $1.05 billion to $1.06 billion. For the next year, analysts expect that the company will post sales of $1.09 billion, with estimates ranging from $1.07 billion to $1.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Crocs.

Crocs (NASDAQ:CROX) last posted its earnings results on Tuesday, August 7th. The textile maker reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.26. Crocs had a return on equity of 13.84% and a net margin of 2.29%. The firm had revenue of $328.00 million for the quarter, compared to analysts’ expectations of $321.47 million.

A number of research firms have recently commented on CROX. BidaskClub upgraded Crocs from a “hold” rating to a “buy” rating in a research report on Saturday, September 15th. Zacks Investment Research cut Crocs from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. TheStreet upgraded Crocs from a “c+” rating to a “b” rating in a report on Thursday, August 9th. Finally, Pivotal Research reiterated a “buy” rating and issued a $21.00 price objective on shares of Crocs in a report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.14.

In related news, Director Thomas J. Smach sold 74,400 shares of Crocs stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $20.14, for a total value of $1,498,416.00. Following the sale, the director now directly owns 125,262 shares in the company, valued at approximately $2,522,776.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel P. Hart sold 20,831 shares of Crocs stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $20.00, for a total value of $416,620.00. Following the completion of the sale, the insider now owns 347,706 shares in the company, valued at $6,954,120. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CROX. Wells Fargo & Company MN lifted its stake in Crocs by 3.3% in the 1st quarter. Wells Fargo & Company MN now owns 108,290 shares of the textile maker’s stock worth $1,760,000 after purchasing an additional 3,487 shares in the last quarter. BlackRock Inc. lifted its stake in Crocs by 3.8% in the 1st quarter. BlackRock Inc. now owns 9,452,829 shares of the textile maker’s stock worth $153,608,000 after purchasing an additional 346,122 shares in the last quarter. Sei Investments Co. lifted its stake in Crocs by 151.1% in the 1st quarter. Sei Investments Co. now owns 16,759 shares of the textile maker’s stock worth $273,000 after purchasing an additional 10,085 shares in the last quarter. Stifel Financial Corp purchased a new position in Crocs in the 1st quarter worth approximately $306,000. Finally, Lord Abbett & CO. LLC purchased a new position in Crocs in the 1st quarter worth approximately $7,719,000. 97.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:CROX traded down $0.17 during trading on Friday, reaching $20.15. 428,300 shares of the company’s stock traded hands, compared to its average volume of 1,048,703. Crocs has a fifty-two week low of $8.64 and a fifty-two week high of $22.07. The stock has a market capitalization of $1.45 billion, a PE ratio of -999.00, a price-to-earnings-growth ratio of 5.26 and a beta of 0.50.

About Crocs

Crocs, Inc, together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.

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Earnings History and Estimates for Crocs (NASDAQ:CROX)

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