Brokers Set Expectations for Crocs, Inc.’s FY2017 Earnings (CROX)
Crocs, Inc. (NASDAQ:CROX) – Analysts at B. Riley upped their FY2017 earnings per share estimates for Crocs in a report released on Thursday. B. Riley analyst M. Kummetz now expects that the textile maker will earn $0.01 per share for the year, up from their prior forecast of ($0.01). B. Riley has a “Neutral” rating and a $8.00 price target on the stock. B. Riley also issued estimates for Crocs’ Q4 2017 earnings at ($0.38) EPS, FY2018 earnings at $0.25 EPS and FY2019 earnings at $0.52 EPS.
A number of other brokerages also recently weighed in on CROX. Zacks Investment Research downgraded Crocs from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 9th. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $6.00 price target on shares of Crocs in a report on Thursday, March 2nd. Piper Jaffray Companies set a $7.00 price target on Crocs and gave the company a “hold” rating in a report on Wednesday, March 1st. Finally, Monness Crespi & Hardt downgraded Crocs from a “buy” rating to a “neutral” rating in a report on Tuesday, January 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.10.
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Crocs (NASDAQ:CROX) opened at 6.84 on Monday. Crocs has a 52 week low of $5.93 and a 52 week high of $12.54. The firm has a 50-day moving average of $6.44 and a 200 day moving average of $7.03. The stock’s market capitalization is $506.84 million.
Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Wednesday, May 10th. The textile maker reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.08. The company had revenue of $267.90 million for the quarter, compared to analyst estimates of $258.10 million. Crocs had a negative net margin of 4.35% and a negative return on equity of 10.92%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Fund Management S.A. bought a new position in shares of Crocs during the first quarter worth approximately $111,000. CSS LLC IL bought a new position in shares of Crocs during the third quarter worth approximately $115,000. Aperio Group LLC increased its position in shares of Crocs by 3.5% in the third quarter. Aperio Group LLC now owns 14,041 shares of the textile maker’s stock worth $117,000 after buying an additional 479 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Crocs during the first quarter worth approximately $118,000. Finally, Teza Capital Management LLC bought a new position in shares of Crocs during the first quarter worth approximately $122,000. Hedge funds and other institutional investors own 89.19% of the company’s stock.
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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