In the latest market close, Crocs (CROX – Free Report) reached $109.68, with a -1.24% movement compared to the previous day. The stock’s performance was behind the S&P 500’s daily gain of 0.16%. Meanwhile, the Dow experienced a rise of 0.25%, and the technology-dominated Nasdaq saw a decrease of 0.06%.
Shares of the footwear company have depreciated by 0.34% over the course of the past month, outperforming the Consumer Discretionary sector’s loss of 6.01% and the S&P 500’s loss of 2.8%.
The investment community will be closely monitoring the performance of Crocs in its forthcoming earnings report. In that report, analysts expect Crocs to post earnings of $2.28 per share. This would mark a year-over-year decline of 11.63%. Meanwhile, the latest consensus estimate predicts the revenue to be $963.74 million, indicating a 0.38% increase compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for Crocs. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.51% decrease. Crocs is currently a Zacks Rank #4 (Sell).
In terms of valuation, Crocs is presently being traded at a Forward P/E ratio of 8.59. This indicates a discount in contrast to its industry’s Forward P/E of 16.06.
Investors should also note that CROX has a PEG ratio of 1.92 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company’s projected earnings growth. The average PEG ratio for the Textile – Apparel industry stood at 1.92 at the close of the market yesterday.
The Textile – Apparel industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 47, placing it within the top 19% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Financial Market Newsflash
No financial news published today. Check back later.
