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Crocs (CROX) Stock Sinks As Market Gains: Here's Why
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The latest trading session saw Crocs (CROX - Free Report) ending at $133.28, denoting a -0.16% adjustment from its last day's close. This change lagged the S&P 500's 1.08% gain on the day. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.58%.
Shares of the footwear company have depreciated by 13.73% over the course of the past month, underperforming the Consumer Discretionary sector's loss of 0.91% and the S&P 500's gain of 0.43%.
The investment community will be closely monitoring the performance of Crocs in its forthcoming earnings report. The company is scheduled to release its earnings on August 1, 2024. The company is predicted to post an EPS of $3.54, indicating a 1.39% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.1 billion, indicating a 2.77% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.70 per share and revenue of $4.13 billion, which would represent changes of +5.57% and +4.35%, respectively, from the prior year.
Any recent changes to analyst estimates for Crocs should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Crocs is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Crocs is currently being traded at a Forward P/E ratio of 10.51. This represents a discount compared to its industry's average Forward P/E of 14.71.
Also, we should mention that CROX has a PEG ratio of 1.48. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Textile - Apparel stocks are, on average, holding a PEG ratio of 1.5 based on yesterday's closing prices.
The Textile - Apparel industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 214, placing it within the bottom 16% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Crocs (CROX) Stock Sinks As Market Gains: Here's Why
The latest trading session saw Crocs (CROX - Free Report) ending at $133.28, denoting a -0.16% adjustment from its last day's close. This change lagged the S&P 500's 1.08% gain on the day. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, added 1.58%.
Shares of the footwear company have depreciated by 13.73% over the course of the past month, underperforming the Consumer Discretionary sector's loss of 0.91% and the S&P 500's gain of 0.43%.
The investment community will be closely monitoring the performance of Crocs in its forthcoming earnings report. The company is scheduled to release its earnings on August 1, 2024. The company is predicted to post an EPS of $3.54, indicating a 1.39% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.1 billion, indicating a 2.77% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.70 per share and revenue of $4.13 billion, which would represent changes of +5.57% and +4.35%, respectively, from the prior year.
Any recent changes to analyst estimates for Crocs should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Crocs is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Crocs is currently being traded at a Forward P/E ratio of 10.51. This represents a discount compared to its industry's average Forward P/E of 14.71.
Also, we should mention that CROX has a PEG ratio of 1.48. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Textile - Apparel stocks are, on average, holding a PEG ratio of 1.5 based on yesterday's closing prices.
The Textile - Apparel industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 214, placing it within the bottom 16% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.