Wall Street brokerages expect Fossil Group Inc (NASDAQ:FOSL) to announce $809.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Fossil Group’s earnings, with estimates ranging from $799.70 million to $819.30 million. Fossil Group posted sales of $920.80 million during the same quarter last year, which suggests a negative year over year growth rate of 12.1%. The business is expected to announce its next quarterly earnings results on Tuesday, February 12th.
On average, analysts expect that Fossil Group will report full year sales of $2.56 billion for the current fiscal year, with estimates ranging from $2.55 billion to $2.57 billion. For the next year, analysts anticipate that the business will report sales of $2.47 billion, with estimates ranging from $2.43 billion to $2.51 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Fossil Group.
Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings data on Wednesday, November 7th. The accessories brand company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.29. Fossil Group had a negative net margin of 4.90% and a positive return on equity of 0.15%. The company had revenue of $609.00 million during the quarter, compared to the consensus estimate of $616.30 million. During the same quarter last year, the firm posted $0.03 EPS. The company’s quarterly revenue was down 11.6% on a year-over-year basis.
A number of research analysts have recently commented on FOSL shares. ValuEngine downgraded shares of Fossil Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 8th. Zacks Investment Research raised shares of Fossil Group from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a research report on Tuesday, November 13th. Finally, BidaskClub raised shares of Fossil Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $22.50.
Shares of FOSL opened at $18.75 on Friday. Fossil Group has a one year low of $6.26 and a one year high of $32.17. The stock has a market capitalization of $983.67 million, a PE ratio of 376.40 and a beta of -0.13. The company has a quick ratio of 1.10, a current ratio of 2.01 and a debt-to-equity ratio of 0.51.
In related news, Director James E. Skinner sold 6,000 shares of Fossil Group stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $21.31, for a total transaction of $127,860.00. Following the completion of the sale, the director now owns 42,943 shares of the company’s stock, valued at approximately $915,115.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John A. White sold 18,800 shares of Fossil Group stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $20.75, for a total transaction of $390,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 41,103 shares of company stock valued at $829,347. Insiders own 8.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Kentucky Retirement Systems bought a new stake in shares of Fossil Group during the 3rd quarter worth about $486,000. Palo Capital Inc. bought a new stake in shares of Fossil Group during the 3rd quarter worth about $156,000. United Services Automobile Association bought a new stake in shares of Fossil Group during the 2nd quarter worth about $220,000. Teacher Retirement System of Texas bought a new stake in shares of Fossil Group during the 2nd quarter worth about $238,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Fossil Group during the 2nd quarter worth about $240,000.
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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