Wall Street brokerages forecast that Fossil Group, Inc. (NASDAQ:FOSL) will post earnings per share of ($0.28) for the current quarter, Zacks reports. Four analysts have issued estimates for Fossil Group’s earnings, with estimates ranging from ($0.30) to ($0.23). Fossil Group posted earnings of $0.12 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 333.3%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, August 8th.
According to Zacks, analysts expect that Fossil Group will report full year earnings of $0.93 per share for the current fiscal year, with EPS estimates ranging from $0.82 to $1.20. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.11 per share, with EPS estimates ranging from $0.68 to $1.85. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Fossil Group.
Fossil Group (NASDAQ:FOSL) last released its quarterly earnings data on Tuesday, May 9th. The accessories brand company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.21) by $0.14. Fossil Group had a net margin of 0.84% and a return on equity of 7.59%. The company had revenue of $582 million for the quarter, compared to analysts’ expectations of $590.51 million. During the same period in the previous year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis.
A number of analysts recently commented on the stock. Instinet lowered their target price on shares of Fossil Group from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, May 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $19.00 target price on shares of Fossil Group in a research note on Tuesday, May 2nd. Zacks Investment Research upgraded shares of Fossil Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 17th. Nomura reiterated a “hold” rating and issued a $13.00 target price on shares of Fossil Group in a research note on Friday, May 12th. Finally, TheStreet cut shares of Fossil Group from a “c-” rating to a “d+” rating in a research note on Thursday, May 11th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. Fossil Group currently has an average rating of “Hold” and a consensus target price of $18.75.
In other news, Chairman Kosta N. Kartsotis sold 520,281 shares of Fossil Group stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $10.71, for a total transaction of $5,572,209.51. Following the completion of the transaction, the chairman now directly owns 3,445,546 shares of the company’s stock, valued at approximately $36,901,797.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Kosta N. Kartsotis sold 1,075,000 shares of Fossil Group stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $11.29, for a total transaction of $12,136,750.00. Following the transaction, the chairman now directly owns 4,183,047 shares of the company’s stock, valued at $47,226,600.63. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,220,281 shares of company stock valued at $23,790,210. Insiders own 12.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in Fossil Group during the second quarter valued at $113,000. Campbell & CO Investment Adviser LLC purchased a new position in Fossil Group during the second quarter valued at $122,000. Louisiana State Employees Retirement System raised its position in Fossil Group by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the accessories brand company’s stock valued at $178,000 after buying an additional 100 shares during the period. Koch Industries Inc. purchased a new position in Fossil Group during the first quarter valued at $196,000. Finally, Wayne Hummer Investments L.L.C. purchased a new position in Fossil Group during the first quarter valued at $205,000. 97.21% of the stock is owned by hedge funds and other institutional investors.
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Fossil Group (NASDAQ FOSL) traded up 12.05% on Friday, hitting $12.55. 1,719,027 shares of the stock traded hands. Fossil Group has a 12 month low of $8.98 and a 12 month high of $36.87. The company has a market capitalization of $608.22 million, a PE ratio of 24.61 and a beta of 0.73. The firm has a 50-day moving average price of $10.19 and a 200-day moving average price of $15.76.
Fossil Group Company Profile
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments include Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.
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