Surging Earnings Estimates Signal Good News for Crocs (CROX)


Crocs, Inc. (CROX) is a footwear brand that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CROC’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Crocs could be a solid choice for investors.
Current Quarter Estimates for CROX
In the past 30 days, 4 estimates have gone higher for Crocs with no downward revision in the same time period. The trend has been pretty favorable too, with estimates increasing from 16 cents a share 30 days ago, to 18 today, a move of 12.5%.
Current Year Estimates for CROX
Meanwhile, Crocs’ current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to 1 lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 48 cents per share 30 days ago to 53 cents per share today, an increase of 10.4%.
Bottom Line
The stock has also started to move higher lately, adding 7.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.
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