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

Brokerages predict that Fossil Group Inc (NASDAQ:FOSL) will report sales of $539.39 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Fossil Group’s earnings. The lowest sales estimate is $533.84 million and the highest is $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 company is expected to issue its next quarterly earnings results on Tuesday, May 8th.

According to Zacks, analysts expect that Fossil Group will report full year sales of $539.39 million for the current fiscal year, with estimates ranging from $2.52 billion to $2.63 billion. For the next financial year, analysts anticipate that the business will post sales of $2.55 billion per share, with estimates ranging from $2.52 billion to $2.59 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Fossil Group.

Fossil Group (NASDAQ:FOSL) last issued its earnings results on Tuesday, February 13th. The accessories brand company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.24. The company had revenue of $920.80 million during the quarter, compared to the consensus estimate of $890.47 million. Fossil Group had a negative net margin of 17.15% and a positive return on equity of 0.65%. During the same quarter in the prior year, the firm posted $1.03 EPS.

FOSL has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Buckingham Research downgraded shares of Fossil Group from a “neutral” rating to an “underperform” rating in a report on Friday, January 5th. BidaskClub raised shares of Fossil Group from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. Bank of America dropped their target price on shares of Fossil Group from $7.00 to $4.00 and set an “underperform” rating for the company in a report on Wednesday, November 8th. Finally, ValuEngine downgraded shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $12.75.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Systematic Financial Management LP bought a new position in shares of Fossil Group during the 3rd quarter valued at about $1,449,000. California Public Employees Retirement System boosted its holdings in shares of Fossil Group by 14.0% during the 2nd quarter. California Public Employees Retirement System now owns 290,500 shares of the accessories brand company’s stock valued at $3,007,000 after purchasing an additional 35,700 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Fossil Group by 177.5% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 548,529 shares of the accessories brand company’s stock valued at $5,118,000 after purchasing an additional 350,865 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of Fossil Group during the 3rd quarter valued at about $304,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Fossil Group by 31.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 388,165 shares of the accessories brand company’s stock valued at $3,622,000 after purchasing an additional 93,027 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Fossil Group (FOSL) opened at $13.83 on Thursday. The firm has a market cap of $663.38, a price-to-earnings ratio of -1.40 and a beta of 0.65. The company has a quick ratio of 1.41, a current ratio of 2.54 and a debt-to-equity ratio of 0.76. Fossil Group has a 1-year low of $5.50 and a 1-year high of $20.14.

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About Fossil Group

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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