Fossil Group (FOSL) Expected to Post Quarterly Sales of $539.39 Million

Analysts expect Fossil Group (NASDAQ:FOSL) to post sales of $539.39 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Fossil Group’s earnings, with estimates ranging from $533.84 million to $542.40 million. Fossil Group posted sales of $581.80 million in the same quarter last year, which suggests a negative year-over-year growth rate of 7.3%. The firm is expected to announce its next quarterly earnings report on Tuesday, May 8th.

On average, analysts expect that Fossil Group will report full year sales of $539.39 million for the current financial year, with estimates ranging from $2.52 billion to $2.63 billion. For the next year, analysts anticipate that the company will post sales of $2.55 billion per share, with estimates ranging from $2.52 billion to $2.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Fossil Group.

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Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Tuesday, February 13th. The accessories brand company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.24. Fossil Group had a positive return on equity of 0.65% and a negative net margin of 17.15%. The company had revenue of $920.80 million during the quarter, compared to analyst estimates of $890.47 million. During the same period in the previous year, the business earned $1.03 EPS.



A number of research firms have recently issued reports on FOSL. BidaskClub upgraded Fossil Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 27th. ValuEngine lowered Fossil Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Buckingham Research upped their price target on Fossil Group from $5.00 to $8.00 and gave the company an “underperform” rating in a research report on Wednesday, February 14th. KeyCorp restated an “overweight” rating and issued a $25.00 price target (up from $15.00) on shares of Fossil Group in a research report on Wednesday, February 14th. Finally, Telsey Advisory Group upped their price target on Fossil Group from $7.00 to $15.00 and gave the company a “market perform” rating in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $12.46.

In related news, Chairman Kosta N. Kartsotis sold 255,448 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was 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 SEC, which is available through this link. Insiders sold 679,972 shares of company stock worth $9,041,909 over the last quarter. 12.80% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Fossil Group by 5.2% in the fourth quarter. BlackRock Inc. now owns 5,826,453 shares of the accessories brand company’s stock valued at $45,271,000 after acquiring an additional 288,928 shares during the last quarter. Millennium Management LLC lifted its holdings in Fossil Group by 378.4% in the fourth quarter. Millennium Management LLC now owns 1,369,533 shares of the accessories brand company’s stock valued at $10,641,000 after acquiring an additional 1,083,233 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Fossil Group by 123.2% in the fourth quarter. Two Sigma Advisers LP now owns 617,275 shares of the accessories brand company’s stock valued at $4,796,000 after acquiring an additional 340,763 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Fossil Group by 44.8% in the fourth quarter. California Public Employees Retirement System now owns 601,233 shares of the accessories brand company’s stock valued at $4,672,000 after acquiring an additional 186,114 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in Fossil Group by 177.5% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 548,529 shares of the accessories brand company’s stock valued at $5,118,000 after acquiring an additional 350,865 shares during the last quarter. Hedge funds and other institutional investors own 99.83% of the company’s stock.

NASDAQ:FOSL traded down $0.46 during trading hours on Wednesday, hitting $12.24. 1,523,662 shares of the stock were exchanged, compared to its average volume of 3,266,153. The company has a current ratio of 2.54, a quick ratio of 1.41 and a debt-to-equity ratio of 0.76. The firm has a market cap of $617.80, a P/E ratio of 244.80 and a beta of -0.08. Fossil Group has a 52-week low of $5.50 and a 52-week high of $18.44.

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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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