Fossil Group Inc (FOSL) Issues FY14 Earnings Guidance
Fossil Group Inc (NASDAQ:FOSL) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided EPS guidance of $6.90-7.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $7.22, ARN reports. The company issued revenue guidance of approx $3.52-3.58 billion, compared to the consensus revenue estimate of $3.58 billion.Fossil Group also updated its Q2 guidance to $0.90-0.97 EPS.
Fossil Group Inc (NASDAQ:FOSL) traded down 0.56% during mid-day trading on Tuesday, hitting $111.45. 1,209,426 shares of the company’s stock traded hands. Fossil Group Inc has a 52-week low of $97.02 and a 52-week high of $134.99. The stock’s 50-day moving average is $110.6 and its 200-day moving average is $117.8. The company has a market cap of $6.020 billion and a P/E ratio of 17.09. Fossil Group also saw some unusual options trading on Monday. Stock investors purchased 6,071 put options on the stock. This represents an increase of approximately 850% compared to the typical daily volume of 639 put options.
Fossil Group (NASDAQ:FOSL) last announced its earnings results on Tuesday, May 13th. The company reported $1.22 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.17 by $0.05. The company had revenue of $776.50 million for the quarter, compared to the consensus estimate of $771.55 million. During the same quarter last year, the company posted $1.21 earnings per share. Fossil Group’s revenue was up 14.1% compared to the same quarter last year. On average, analysts predict that Fossil Group Inc will post $7.20 earnings per share for the current fiscal year.
FOSL has been the subject of a number of recent research reports. Analysts at Benchmark Co. upgraded shares of Fossil Group from a hold rating to a buy rating in a research note on Monday. They now have a $125.00 price target on the stock. On a related note, analysts at Citigroup Inc. upgraded shares of Fossil Group from a neutral rating to a buy rating in a research note on Thursday, May 8th. Finally, analysts at Macquarie cut their price target on shares of Fossil Group from $120.00 to $110.00 in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $125.56.
Fossil Group, Inc, formerly Fossil, Inc, a global designer, marketer and distributer company that specializes in consumer fashion accessories.
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