Wall Street analysts expect that Fossil Group (NASDAQ:FOSL) will report sales of $566.00 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Fossil Group’s earnings, with the lowest sales estimate coming in at $561.00 million and the highest estimate coming in at $571.00 million. Fossil Group posted sales of $596.80 million in the same quarter last year, which would indicate a negative year over year growth rate of 5.2%. The company is expected to announce its next quarterly earnings report on Tuesday, August 14th.
On average, analysts expect that Fossil Group will report full year sales of $2.64 billion for the current fiscal year, with estimates ranging from $2.62 billion to $2.69 billion. For the next year, analysts anticipate that the company will post sales of $2.58 billion per share, with estimates ranging from $2.48 billion to $2.69 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Fossil Group.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Tuesday, May 8th. The accessories brand company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.03). Fossil Group had a negative return on equity of 4.36% and a negative net margin of 17.23%. The company had revenue of $569.20 million during the quarter, compared to the consensus estimate of $539.08 million. During the same quarter last year, the firm earned ($1.00) EPS. The business’s revenue for the quarter was down 2.2% on a year-over-year basis.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Fossil Group from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, May 11th. BidaskClub upgraded shares of Fossil Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 12th. ValuEngine upgraded shares of Fossil Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 8th. KeyCorp reiterated an “overweight” rating and set a $25.00 target price (up previously from $15.00) on shares of Fossil Group in a research report on Wednesday, February 14th. Finally, Buckingham Research upped their target price on shares of Fossil Group from $5.00 to $8.00 and gave the company an “underperform” rating in a research report on Wednesday, February 14th. Four analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $13.00.
Fossil Group traded up $0.32, hitting $19.92, during trading on Friday, MarketBeat reports. The company had a trading volume of 584,822 shares, compared to its average volume of 2,849,526. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.21 and a quick ratio of 1.19. Fossil Group has a 12 month low of $5.50 and a 12 month high of $19.90. The stock has a market capitalization of $965.08 million, a PE ratio of 398.40, a price-to-earnings-growth ratio of 16.68 and a beta of -0.11.
In related news, Chairman Kosta N. Kartsotis sold 255,448 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $13.55, for a total value of $3,461,320.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 679,972 shares of company stock valued at $9,041,909. 8.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in FOSL. Schwab Charles Investment Management Inc. boosted its stake in Fossil Group by 38.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 538,545 shares of the accessories brand company’s stock worth $4,185,000 after purchasing an additional 150,380 shares during the period. Unison Advisors LLC acquired a new position in Fossil Group in the 4th quarter worth $107,000. Alambic Investment Management L.P. boosted its stake in Fossil Group by 43.9% in the 4th quarter. Alambic Investment Management L.P. now owns 514,210 shares of the accessories brand company’s stock worth $3,995,000 after purchasing an additional 156,910 shares during the period. Crossmark Global Holdings Inc. boosted its stake in Fossil Group by 68.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 24,750 shares of the accessories brand company’s stock worth $192,000 after purchasing an additional 10,080 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Fossil Group in the 4th quarter worth $120,000. 94.08% of the stock is owned by hedge funds and other institutional investors.
About Fossil Group
Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.
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