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Crocs (CROX) Dips More Than Broader Markets: What You Should Know
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Crocs (CROX - Free Report) closed at $124.04 in the latest trading session, marking a -1.55% move from the prior day. This move lagged the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Prior to today's trading, shares of the footwear company had gained 9.47% over the past month. This has outpaced the Consumer Discretionary sector's gain of 0.66% and the S&P 500's gain of 3.39% in that time.
Wall Street will be looking for positivity from Crocs as it approaches its next earnings report date. This is expected to be July 27, 2023. On that day, Crocs is projected to report earnings of $2.95 per share, which would represent a year-over-year decline of 8.95%. Meanwhile, our latest consensus estimate is calling for revenue of $1.04 billion, up 8.2% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.53 per share and revenue of $4.02 billion. These totals would mark changes of +5.59% and +13.11%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Crocs. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.01% lower within the past month. Crocs is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Crocs currently has a Forward P/E ratio of 10.93. This valuation marks a discount compared to its industry's average Forward P/E of 11.32.
We can also see that CROX currently has a PEG ratio of 0.73. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Textile - Apparel stocks are, on average, holding a PEG ratio of 1.17 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 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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) Dips More Than Broader Markets: What You Should Know
Crocs (CROX - Free Report) closed at $124.04 in the latest trading session, marking a -1.55% move from the prior day. This move lagged the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Prior to today's trading, shares of the footwear company had gained 9.47% over the past month. This has outpaced the Consumer Discretionary sector's gain of 0.66% and the S&P 500's gain of 3.39% in that time.
Wall Street will be looking for positivity from Crocs as it approaches its next earnings report date. This is expected to be July 27, 2023. On that day, Crocs is projected to report earnings of $2.95 per share, which would represent a year-over-year decline of 8.95%. Meanwhile, our latest consensus estimate is calling for revenue of $1.04 billion, up 8.2% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $11.53 per share and revenue of $4.02 billion. These totals would mark changes of +5.59% and +13.11%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Crocs. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.01% lower within the past month. Crocs is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Crocs currently has a Forward P/E ratio of 10.93. This valuation marks a discount compared to its industry's average Forward P/E of 11.32.
We can also see that CROX currently has a PEG ratio of 0.73. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Textile - Apparel stocks are, on average, holding a PEG ratio of 1.17 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 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.