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Highlights
Seaport Res Ptn raised its Q3 2024 earnings per share estimate for Crocs, Inc. to $3.15, up from a previous estimate of $3.10.
Crocs reported robust Q2 results, exceeding consensus estimates with earnings of $4.01 per share and revenue of $1.11 billion.
Institutional ownership in Crocs is significant, with 93.44% of the company’s stock held by institutional investors.
Crocs, Inc. (NASDAQ:CROX) has garnered attention from analysts and institutional investors alike, particularly following a report from Seaport Res Ptn that adjusted its Q3 2024 earnings per share estimate to $3.15. This revision reflects growing confidence in the company’s performance, particularly in light of its strong financial results in the previous quarter.
In its latest earnings report, Crocs posted earnings of $4.01 per share, surpassing the consensus estimate of $3.59 by $0.42. The company's revenue for the quarter reached $1.11 billion, slightly exceeding analysts' expectations of $1.10 billion. With a return on equity of 53.20% and a net margin of 20.02%, Crocs demonstrated solid year-over-year growth, reporting a 3.6% increase in revenue compared to the same period last year.
Recent research reports have further highlighted the positive outlook for Crocs. Barclays and UBS Group have slightly adjusted their price projections, with Barclays reducing its target from $169 to $164 and UBS lowering its objective from $148 to $146. Conversely, KeyCorp raised its price target from $149 to $155, reinforcing an "overweight" rating. Overall, Crocs maintains a consensus rating of "Moderate Buy," with an average target price of $162.58.
The company's stock opened at $129.99, showing a market capitalization of approximately $7.89 billion. With a price-to-earnings ratio of 10.06, Crocs continues to attract institutional interest, evidenced by 93.44% of its shares held by institutional investors.
Recent insider transactions also reflect ongoing engagement. Director Douglas J. Treff sold 10,594 shares, while another director, John B. Replogle, acquired 1,996 shares. These activities indicate a dynamic environment within the company as it navigates its growth trajectory.
