Crocs (CROX) Stock Slides as Market Rises: Facts to Know Before You Trade
Crocs (CROX) closed the latest trading day at $100.81, indicating a -0.66% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.25%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 1.3%.
Shares of the footwear company witnessed a gain of 14.42% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 0.91% and the S&P 500's gain of 1.58%.
The investment community will be closely monitoring the performance of Crocs in its forthcoming earnings report. The company's upcoming EPS is projected at $2.42, signifying an 8.68% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $956.18 million, showing a 1.17% escalation compared to the year-ago quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Crocs. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.3% lower. Currently, Crocs is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Crocs currently has a Forward P/E ratio of 8.51. This valuation marks a discount compared to its industry's average Forward P/E of 11.79.
Meanwhile, CROX's PEG ratio is currently 1.32. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Textile - Apparel industry stood at 1.58 at the close of the market yesterday.
The Textile - Apparel industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 110, positioning it in the top 44% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Crocs, Inc. (CROX) : Free Stock Analysis Report
