Zacks: Analysts Anticipate Fossil Group, Inc. (NASDAQ:FOSL) Will Post Quarterly Sales of $619.48 Million
Equities analysts predict that Fossil Group, Inc. (NASDAQ:FOSL) will announce $619.48 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Fossil Group’s earnings. The highest sales estimate is $631.70 million and the lowest is $610.41 million. Fossil Group reported sales of $685.40 million in the same quarter last year, which indicates a negative year-over-year growth rate of 9.6%. The company is expected to report its next earnings results after the market closes on Tuesday, August 8th.
On average, analysts expect that Fossil Group will report full-year sales of $619.48 million for the current financial year, with estimates ranging from $2.86 billion to $2.96 billion. For the next financial year, analysts anticipate that the company will report sales of $2.92 billion per share, with estimates ranging from $2.80 billion to $3.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Fossil Group.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings results on Tuesday, May 9th. The accessories brand company reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.14. The business had revenue of $582 million for the quarter, compared to the consensus estimate of $590.51 million. Fossil Group had a net margin of 0.84% and a return on equity of 7.59%. Fossil Group’s revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share.
Several equities research analysts have recently issued reports on FOSL shares. Vetr lowered shares of Fossil Group from a “strong-buy” rating to a “buy” rating and set a $18.50 target price on the stock. in a research note on Monday, April 17th. ValuEngine raised shares of Fossil Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Zacks Investment Research raised shares of Fossil Group from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Thursday. TheStreet lowered shares of Fossil Group from a “c-” rating to a “d+” rating in a research note on Thursday, May 11th. Finally, Nomura reissued a “hold” rating and set a $13.00 target price on shares of Fossil Group in a research note on Friday, May 12th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $18.75.
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In other Fossil Group news, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $11.29, for a total value of $12,136,750.00. Following the completion of the sale, the chairman now owns 4,183,047 shares in the company, valued at approximately $47,226,600.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $10.71, for a total transaction of $5,572,209.51. Following the completion of the sale, the chairman now owns 3,445,546 shares of the company’s stock, valued at approximately $36,901,797.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,220,281 shares of company stock valued at $23,790,210. 12.80% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in Fossil Group during the second quarter worth approximately $113,000. Campbell & CO Investment Adviser LLC acquired a new stake in Fossil Group during the second quarter worth approximately $122,000. Louisiana State Employees Retirement System increased its stake in Fossil Group by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the accessories brand company’s stock worth $178,000 after buying an additional 100 shares during the last quarter. Koch Industries Inc. acquired a new stake in Fossil Group during the first quarter worth approximately $196,000. Finally, Wayne Hummer Investments L.L.C. acquired a new stake in Fossil Group during the first quarter worth approximately $205,000. Institutional investors own 97.21% of the company’s stock.
Shares of Fossil Group (NASDAQ FOSL) opened at 11.64 on Monday. The firm’s 50-day moving average price is $10.19 and its 200-day moving average price is $15.76. Fossil Group has a 12-month low of $8.98 and a 12-month high of $36.87. The company has a market capitalization of $564.12 million, a PE ratio of 22.82 and a beta of 0.73.
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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