B. Riley Comments on Crocs, Inc.’s Q4 2020 Earnings (NASDAQ:CROX)


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Crocs, Inc. (NASDAQ:CROX) – Investment analysts at B. Riley upped their Q4 2020 earnings per share estimates for shares of Crocs in a research report issued on Tuesday, January 12th. B. Riley analyst S. Anderson now forecasts that the textile maker will post earnings of $0.57 per share for the quarter, up from their prior estimate of $0.43. B. Riley has a “Buy” rating and a $87.00 price target on the stock. B. Riley also issued estimates for Crocs’ Q1 2021 earnings at $0.57 EPS, Q2 2021 earnings at $1.22 EPS, FY2021 earnings at $3.49 EPS, FY2022 earnings at $3.78 EPS, FY2023 earnings at $4.45 EPS and FY2024 earnings at $5.19 EPS.

Crocs (NASDAQ:CROX) last released its quarterly earnings results on Sunday, November 1st. The textile maker reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.24. Crocs had a net margin of 12.08% and a return on equity of 102.93%. The firm had revenue of $361.70 million for the quarter, compared to the consensus estimate of $343.98 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis.

Several other equities research analysts also recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Crocs from $50.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 28th. Pivotal Research lifted their price target on shares of Crocs from $68.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday. Monness Crespi & Hardt raised their price objective on shares of Crocs from $60.00 to $91.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group raised their price objective on shares of Crocs from $48.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, October 28th. Finally, Loop Capital raised their price objective on shares of Crocs from $60.00 to $75.00 in a report on Wednesday, December 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Crocs currently has a consensus rating of “Buy” and a consensus target price of $72.50.

Crocs stock opened at $76.36 on Thursday. Crocs has a 12-month low of $8.40 and a 12-month high of $78.68. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 34.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.70 and a quick ratio of 1.07. The firm’s fifty day moving average price is $64.03 and its 200 day moving average price is $48.92.

Several hedge funds have recently added to or reduced their stakes in the business. Ballew Advisors Inc bought a new stake in shares of Crocs during the 4th quarter worth about $353,000. Wedge Capital Management L L P NC bought a new stake in Crocs in the fourth quarter worth approximately $28,112,000. Strs Ohio grew its position in Crocs by 44.7% in the third quarter. Strs Ohio now owns 5,500 shares of the textile maker’s stock worth $235,000 after acquiring an additional 1,700 shares in the last quarter. Jupiter Wealth Management LLC bought a new stake in Crocs in the third quarter worth approximately $128,000. Finally, Paloma Partners Management Co bought a new stake in Crocs in the third quarter worth approximately $1,279,000. Institutional investors own 95.34% of the company’s stock.

In other Crocs news, CEO Andrew Rees sold 34,900 shares of the business’s stock in a transaction dated Monday, January 11th. The shares were sold at an average price of $72.10, for a total transaction of $2,516,290.00. Following the sale, the chief executive officer now directly owns 849,848 shares in the company, valued at approximately $61,274,040.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anne Mehlman sold 2,082 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $55.00, for a total transaction of $114,510.00. Following the sale, the chief financial officer now owns 98,891 shares in the company, valued at $5,439,005. The disclosure for this sale can be found here. Insiders have sold a total of 92,040 shares of company stock valued at $5,744,560 over the last three months. 2.32% of the stock is currently owned by company insiders.

Crocs Company Profile

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.

See Also: Return On Assets

Earnings History and Estimates for Crocs (NASDAQ:CROX)

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