Crocs (NASDAQ:CROX) – Equities research analysts at Piper Jaffray lowered their Q1 2018 earnings per share estimates for shares of Crocs in a report released on Monday, April 16th. Piper Jaffray analyst E. Murphy now forecasts that the textile maker will earn $0.11 per share for the quarter, down from their previous estimate of $0.14. Piper Jaffray has a “Buy” rating and a $18.00 price objective on the stock. Piper Jaffray also issued estimates for Crocs’ Q2 2018 earnings at $0.28 EPS, Q3 2018 earnings at $0.08 EPS, FY2018 earnings at $0.25 EPS, Q1 2019 earnings at $0.20 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.15 EPS and FY2019 earnings at $0.55 EPS.
CROX has been the subject of several other research reports. Pivotal Research set a $13.00 price target on shares of Crocs and gave the company a “hold” rating in a report on Monday, February 26th. Zacks Investment Research raised shares of Crocs from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, February 27th. Buckingham Research lowered shares of Crocs from a “neutral” rating to an “underperform” rating in a report on Friday, January 5th. BidaskClub raised shares of Crocs from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 27th. Finally, ValuEngine raised shares of Crocs from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $12.00.
Shares of CROX stock opened at $15.77 on Tuesday. Crocs has a 12-month low of $5.93 and a 12-month high of $17.43. The firm has a market capitalization of $1,104.73, a PE ratio of -788.50, a PEG ratio of 3.78 and a beta of 0.30.
Crocs (NASDAQ:CROX) last announced its quarterly earnings results on Wednesday, February 28th. The textile maker reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.04). Crocs had a net margin of 1.00% and a return on equity of 6.19%. The firm had revenue of $199.11 million during the quarter, compared to analyst estimates of $196.70 million. During the same period last year, the firm earned ($0.58) EPS. Crocs’s quarterly revenue was up 6.2% on a year-over-year basis.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. acquired a new position in Crocs in the 4th quarter worth $258,000. Investors Research Corp acquired a new position in Crocs in the 4th quarter worth $265,000. Capital Fund Management S.A. acquired a new position in Crocs in the 4th quarter worth $277,000. Cubist Systematic Strategies LLC boosted its stake in Crocs by 197.6% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 31,249 shares of the textile maker’s stock worth $303,000 after purchasing an additional 20,750 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Crocs in the 4th quarter worth $315,000. 99.81% of the stock is owned by hedge funds and other institutional investors.
Crocs declared that its Board of Directors has authorized a share buyback program on Wednesday, February 28th that authorizes the company to repurchase $431.00 million in shares. This repurchase authorization authorizes the textile maker to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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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 worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name.
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