Crocs, Inc. (NASDAQ:CROX) Posts Earnings Results, Beats Estimates By $0.12 EPS

Crocs, Inc. (NASDAQ:CROX) released its earnings results on Wednesday, August 9th. The textile maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.12, Bloomberg Earnings reports. Crocs had a negative net margin of 0.91% and a negative return on equity of 3.36%. The firm had revenue of $313.20 million during the quarter, compared to analyst estimates of $311.33 million. During the same quarter in the previous year, the business earned $0.16 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year.

Shares of Crocs (NASDAQ CROX) traded down 3.37% during midday trading on Friday, reaching $8.88. 1,465,677 shares of the company’s stock traded hands. The stock has a 50 day moving average of $8.06 and a 200-day moving average of $7.09. The stock’s market cap is $637.24 million. Crocs has a 12 month low of $5.93 and a 12 month high of $9.70.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. boosted its position in shares of Crocs by 0.3% in the second quarter. UBS Asset Management Americas Inc. now owns 30,036 shares of the textile maker’s stock worth $232,000 after buying an additional 98 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Crocs by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the textile maker’s stock worth $233,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Crocs by 0.5% in the second quarter. Arizona State Retirement System now owns 38,588 shares of the textile maker’s stock worth $298,000 after buying an additional 200 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Crocs by 1.7% in the first quarter. BNP Paribas Arbitrage SA now owns 20,543 shares of the textile maker’s stock worth $145,000 after buying an additional 336 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Crocs by 1.2% in the second quarter. US Bancorp DE now owns 33,293 shares of the textile maker’s stock worth $257,000 after buying an additional 401 shares in the last quarter. Hedge funds and other institutional investors own 90.27% of the company’s stock.

A number of analysts have commented on CROX shares. Zacks Investment Research raised shares of Crocs from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Monday, August 14th. BidaskClub raised shares of Crocs from a “hold” rating to a “buy” rating in a report on Friday, August 11th. TheStreet raised shares of Crocs from a “d” rating to a “c-” rating in a report on Wednesday, June 21st. ValuEngine raised shares of Crocs from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $9.00 price target on shares of Crocs in a report on Wednesday, August 9th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Crocs has an average rating of “Buy” and a consensus price target of $8.60.

Crocs Company Profile

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.

Earnings History for Crocs (NASDAQ:CROX)

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