Fossil Group, Inc. (FOSL) Releases Q3 Earnings Guidance
Fossil Group, Inc. (NASDAQ:FOSL) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ($0.38)-(0.05) for the period, compared to the Thomson Reuters consensus estimate of $0.04. Fossil Group also updated its FY17 guidance to ($0.32)-0.48 EPS.
Shares of Fossil Group, Inc. (FOSL) traded up 5.71% during trading on Tuesday, hitting $11.84. The company’s stock had a trading volume of 5,360,791 shares. The firm’s 50 day moving average is $10.31 and its 200-day moving average is $15.66. Fossil Group, Inc. has a 1-year low of $8.98 and a 1-year high of $36.87. The company has a market capitalization of $573.81 million, a P/E ratio of 23.22 and a beta of 0.73.
Fossil Group (NASDAQ:FOSL) last released its earnings results on Tuesday, May 9th. The accessories brand company reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.14. The business had revenue of $582 million during the quarter, compared to analyst estimates of $590.51 million. Fossil Group had a net margin of 0.84% and a return on equity of 7.59%. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the business earned $0.12 EPS. Analysts forecast that Fossil Group, Inc. will post $0.87 EPS for the current fiscal year.
A number of analysts have issued reports on FOSL shares. ValuEngine lowered Fossil Group from a buy rating to a hold rating in a report on Tuesday, August 1st. Zacks Investment Research raised Fossil Group from a strong sell rating to a hold rating in a report on Monday, May 8th. Vetr lowered Fossil Group from a strong-buy rating to a buy rating and set a $18.50 target price on the stock. in a report on Monday, April 17th. Wells Fargo & Company set a $12.00 target price on Fossil Group and gave the company a sell rating in a report on Wednesday, May 10th. Finally, BidaskClub raised Fossil Group from a sell rating to a hold rating in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $18.75.
In related news, Chairman Kosta N. Kartsotis sold 520,281 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $10.71, for a total transaction of $5,572,209.51. Following the completion of the transaction, the chairman now owns 3,445,546 shares in the company, valued at approximately $36,901,797.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $11.29, for a total value of $12,136,750.00. Following the transaction, the chairman now owns 4,183,047 shares of the company’s stock, valued at approximately $47,226,600.63. The disclosure for this sale can be found here. Insiders have sold a total of 2,220,281 shares of company stock valued at $23,790,210 in the last 90 days. 12.80% of the stock is owned by corporate insiders.
Fossil Group Company Profile
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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