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Crocs (CROX) Outpaces Stock Market Gains: What You Should Know
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Crocs (CROX - Free Report) closed the most recent trading day at $122.81, moving +0.8% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Prior to today's trading, shares of the footwear company had gained 13.81% over the past month. This has outpaced the Consumer Discretionary sector's gain of 1.65% and the S&P 500's gain of 3.43% in that time.
Investors will be hoping for strength from Crocs as it approaches its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect Crocs to post earnings of $2.95 per share. This would mark a year-over-year decline of 8.95%. Our most recent consensus estimate is calling for quarterly revenue of $1.04 billion, up 8.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.52 per share and revenue of $4.02 billion, which would represent changes of +5.49% and +13.1%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Crocs. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.04% lower. Crocs is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Crocs is holding a Forward P/E ratio of 10.57. This valuation marks a discount compared to its industry's average Forward P/E of 10.74.
Meanwhile, CROX's PEG ratio is currently 0.7. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Textile - Apparel stocks are, on average, holding a PEG ratio of 1.13 based on yesterday's closing prices.
The Textile - Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Crocs (CROX) Outpaces Stock Market Gains: What You Should Know
Crocs (CROX - Free Report) closed the most recent trading day at $122.81, moving +0.8% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.03%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Prior to today's trading, shares of the footwear company had gained 13.81% over the past month. This has outpaced the Consumer Discretionary sector's gain of 1.65% and the S&P 500's gain of 3.43% in that time.
Investors will be hoping for strength from Crocs as it approaches its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect Crocs to post earnings of $2.95 per share. This would mark a year-over-year decline of 8.95%. Our most recent consensus estimate is calling for quarterly revenue of $1.04 billion, up 8.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.52 per share and revenue of $4.02 billion, which would represent changes of +5.49% and +13.1%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Crocs. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.04% lower. Crocs is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Crocs is holding a Forward P/E ratio of 10.57. This valuation marks a discount compared to its industry's average Forward P/E of 10.74.
Meanwhile, CROX's PEG ratio is currently 0.7. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Textile - Apparel stocks are, on average, holding a PEG ratio of 1.13 based on yesterday's closing prices.
The Textile - Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.