Crocs (CROX) Outperforms Broader Market: What You Need to Know
The latest trading session saw Crocs (CROX) ending at $99.97, denoting a +0.98% adjustment from its last day's close. This change outpaced the S&P 500's 0.82% gain on the day. Elsewhere, the Dow saw an upswing of 0.41%, while the tech-heavy Nasdaq appreciated by 0.95%.
Heading into today, shares of the footwear company had lost 1.12% over the past month, lagging the Consumer Discretionary sector's gain of 3.13% and the S&P 500's gain of 5.59% in that time.
Investors will be eagerly watching for the performance of Crocs in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on February 15, 2024. The company is predicted to post an EPS of $2.37, indicating a 10.57% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $958.18 million, indicating a 1.38% upward movement from the same quarter last year.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.75% decrease. Crocs presently features a Zacks Rank of #3 (Hold).
Looking at valuation, Crocs is presently trading at a Forward P/E ratio of 8.31. This represents a discount compared to its industry's average Forward P/E of 11.76.
It's also important to note that CROX currently trades at a PEG ratio of 1.28. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Textile - Apparel industry held an average PEG ratio of 1.59.
The Textile - Apparel industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 111, positioning it in the top 45% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Crocs, Inc. (CROX) : Free Stock Analysis Report
