Fossil Group (FOSL) Posts Earnings Results, Beats Estimates By $0.29 EPS

Fossil Group (NASDAQ:FOSL) issued its quarterly earnings data on Wednesday. The accessories brand company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.29, Briefing.com reports. The business had revenue of $609.00 million for the quarter, compared to the consensus estimate of $616.30 million. Fossil Group had a negative return on equity of 1.21% and a negative net margin of 5.13%. The firm’s revenue was down 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. Fossil Group updated its FY 2018 guidance to EPS and its Q4 2018 guidance to EPS.

Shares of NASDAQ FOSL traded down $3.06 during mid-day trading on Friday, hitting $18.79. The company had a trading volume of 4,280,776 shares, compared to its average volume of 2,226,899. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 375.80 and a beta of -0.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 1.13. Fossil Group has a one year low of $5.84 and a one year high of $32.17.

Several brokerages recently commented on FOSL. ValuEngine downgraded Fossil Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday. BidaskClub raised Fossil Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 30th. Zacks Investment Research raised Fossil Group from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Tuesday, October 9th. TheStreet raised Fossil Group from a “d” rating to a “c-” rating in a research note on Wednesday, August 8th. Finally, KeyCorp lifted their price target on Fossil Group from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Fossil Group presently has an average rating of “Buy” and a consensus target price of $23.00.

In related news, insider Gregory A. Mckelvey sold 26,138 shares of Fossil Group stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $26.00, for a total transaction of $679,588.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Darren E. Hart sold 25,662 shares of Fossil Group stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $26.30, for a total value of $674,910.60. Following the transaction, the executive vice president now owns 116,325 shares of the company’s stock, valued at approximately $3,059,347.50. The disclosure for this sale can be found here. 8.20% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Palo Capital Inc. bought a new position in Fossil Group during the third quarter worth about $156,000. Xact Kapitalforvaltning AB bought a new stake in shares of Fossil Group during the second quarter worth approximately $207,000. Royal Bank of Canada boosted its holdings in shares of Fossil Group by 170.3% during the first quarter. Royal Bank of Canada now owns 16,660 shares of the accessories brand company’s stock worth $212,000 after acquiring an additional 40,353 shares during the period. United Services Automobile Association bought a new stake in shares of Fossil Group during the second quarter worth approximately $220,000. Finally, We Are One Seven LLC bought a new stake in shares of Fossil Group during the third quarter worth approximately $232,000. Institutional investors and hedge funds own 91.15% of the company’s stock.

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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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Earnings History for Fossil Group (NASDAQ:FOSL)

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