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Crocs (CROX) Stock Drops Despite Market Gains: Important Facts to Note September 19, 2024
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In the latest trading session, Crocs (CROX - Free Report) closed at $137.92, marking a -1.35% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 1.7%. Meanwhile, the Dow experienced a rise of 1.26%, and the technology-dominated Nasdaq saw an increase of 2.51%.
Coming into today, shares of the footwear company had lost 0.56% in the past month. In that same time, the Consumer Discretionary sector gained 2.85%, while the S&P 500 gained 1.27%.
The investment community will be closely monitoring the performance of Crocs in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $3.11, reflecting a 4.31% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.05 billion, indicating a 0.08% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.85 per share and revenue of $4.12 billion, indicating changes of +6.82% and +4%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Crocs. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.11% higher. As of now, Crocs holds a Zacks Rank of #2 (Buy).
In terms of valuation, Crocs is currently trading at a Forward P/E ratio of 10.88. This denotes a discount relative to the industry's average Forward P/E of 19.27.
We can also see that CROX currently has a PEG ratio of 1.4. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Textile - Apparel industry currently had an average PEG ratio of 2.01 as of yesterday's close.
The Textile - Apparel industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 171, placing it within the bottom 33% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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In the latest trading session, Crocs (CROX - Free Report) closed at $137.92, marking a -1.35% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 1.7%. Meanwhile, the Dow experienced a rise of 1.26%, and the technology-dominated Nasdaq saw an increase of 2.51%.
Coming into today, shares of the footwear company had lost 0.56% in the past month. In that same time, the Consumer Discretionary sector gained 2.85%, while the S&P 500 gained 1.27%.
The investment community will be closely monitoring the performance of Crocs in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $3.11, reflecting a 4.31% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.05 billion, indicating a 0.08% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $12.85 per share and revenue of $4.12 billion, indicating changes of +6.82% and +4%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Crocs. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.11% higher. As of now, Crocs holds a Zacks Rank of #2 (Buy).
In terms of valuation, Crocs is currently trading at a Forward P/E ratio of 10.88. This denotes a discount relative to the industry's average Forward P/E of 19.27.
We can also see that CROX currently has a PEG ratio of 1.4. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Textile - Apparel industry currently had an average PEG ratio of 2.01 as of yesterday's close.
The Textile - Apparel industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 171, placing it within the bottom 33% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.