In the latest trading session, Crocs (CROX) closed at $139.54, marking a +0.89% move from the previous day. This change outpaced the S&P 500’s 0.83% gain on the day.
Prior to today’s trading, shares of the footwear company had lost 0.47% over the past month. This has was narrower than the Consumer Discretionary sector’s loss of 4.98% and the S&P 500’s loss of 3.68% in that time.
CROX will be looking to display strength as it nears its next earnings release. In that report, analysts expect CROX to post earnings of $1.87 per share. This would mark year-over-year growth of 98.94%. Meanwhile, our latest consensus estimate is calling for revenue of $612.38 million, up 69.29% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.89 per share and revenue of $2.27 billion, which would represent changes of +113.98% and +63.77%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for CROX. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.62% higher within the past month. CROX is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that CROX has a Forward P/E ratio of 20.08 right now. This valuation marks a premium compared to its industry’s average Forward P/E of 16.21.
The Textile – Apparel industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 20, which puts it in the top 8% 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.
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