Analysts expect Fossil Group Inc (NASDAQ:FOSL) to report earnings per share (EPS) of ($0.41) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Fossil Group’s earnings, with the lowest EPS estimate coming in at ($0.59) and the highest estimate coming in at ($0.27). Fossil Group posted earnings of ($0.23) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 78.3%. The company is expected to issue its next quarterly earnings results on Tuesday, August 14th.
According to Zacks, analysts expect that Fossil Group will report full year earnings of $0.27 per share for the current year, with EPS estimates ranging from $0.22 to $0.32. For the next fiscal year, analysts anticipate that the company will report earnings of $0.59 per share, with EPS estimates ranging from $0.35 to $0.86. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Fossil Group.
Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results 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). The company had revenue of $569.20 million for the quarter, compared to analysts’ expectations of $539.08 million. Fossil Group had a negative return on equity of 4.36% and a negative net margin of 17.23%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted ($1.00) EPS.
Several research firms have recently issued reports on FOSL. Zacks Investment Research upgraded Fossil Group from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Friday, May 11th. BidaskClub upgraded Fossil Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 12th. ValuEngine upgraded Fossil Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 7th. Finally, KeyCorp raised their price objective on Fossil Group from $25.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, June 4th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $13.88.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Fossil Group by 5.2% during the fourth quarter. BlackRock Inc. now owns 5,826,453 shares of the accessories brand company’s stock worth $45,271,000 after purchasing an additional 288,928 shares during the last quarter. Contrarius Investment Management Ltd boosted its holdings in Fossil Group by 44.5% in the first quarter. Contrarius Investment Management Ltd now owns 4,721,672 shares of the accessories brand company’s stock valued at $59,965,000 after acquiring an additional 1,454,484 shares during the last quarter. Millennium Management LLC boosted 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 boosted 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. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Fossil Group by 11.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 602,475 shares of the accessories brand company’s stock valued at $7,652,000 after acquiring an additional 63,930 shares during the last quarter. Institutional investors and hedge funds own 93.85% of the company’s stock.
Fossil Group stock traded down $1.51 during mid-day trading on Wednesday, hitting $29.63. 1,172,191 shares of the company were exchanged, compared to its average volume of 2,576,565. Fossil Group has a 12-month low of $5.50 and a 12-month high of $32.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.19 and a current ratio of 2.21. The company has a market capitalization of $1.51 billion and a price-to-earnings ratio of 592.60.
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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