Filed under: Major movement, Earnings reports, Good news, Crocs Inc (CROX), Stocks to Buy
High flyer Crocs Inc. (NASDAQ: CROX) is set to report after the close today and will host a conference call and web cast for all investors at 4:30pm Eastern Time. The stock has been running up a bit in front of the release, gaining about $5 to $72. What to expect?
The company crushed the June numbers by a wide margin. It beat the top line by $40 million at $224 million of revenues and the bottom line was $0.58 versus expectations of $0.42. The company made a huge statement as to its validity with these June results. Consensus for the September quarter (endorsed by the company — a first) is for revenues of $258 million and earnings per share of $0.63. The fact that Crocs management endorsed these numbers indicates they must see a powerful quarter developing. Both top and bottom line numbers represent a roughly 10% increase from quarter-to-quarter.
I have recently moved my price target to $100 within the next 12 months for Crocs. It is a misunderstood story and the short-sellers who have dismissed this story as a fad have gotten destroyed. The stock has increased 4-fold this year so far. I have written that I believe Crocs is a real phenomenon — fads do not do $1 billion in revenues, and fads do not offer 65 different products.
Continue reading Crocs earnings preview
Permalink | Email this | Comments
Entries (RSS)