Fossil Group, Inc. (NASDAQ:FOSL) Updates FY17 Earnings Guidance
Fossil Group, Inc. (NASDAQ:FOSL) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of ($0.32)-0.48 for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.19). Fossil Group also updated its Q3 guidance to ($0.38)-(0.05) EPS.
Shares of Fossil Group, Inc. (NASDAQ FOSL) traded up 5.71% during trading on Tuesday, reaching $11.84. 5,360,791 shares of the company traded hands. Fossil Group, Inc. has a 12-month low of $8.98 and a 12-month high of $36.87. The firm’s 50 day moving average is $10.31 and its 200-day moving average is $15.66. The stock 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 announced its quarterly earnings data on Tuesday, May 9th. The accessories brand company reported ($0.35) earnings per share 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 analysts’ expectations of $590.51 million. Fossil Group had a return on equity of 7.59% and a net margin of 0.84%. Fossil Group’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.12 EPS. On average, equities research analysts anticipate that Fossil Group, Inc. will post $0.87 earnings per share for the current fiscal year.
FOSL has been the topic of a number of recent research reports. ValuEngine cut shares of Fossil Group from a buy rating to a hold rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded shares of Fossil Group from a strong sell rating to a hold rating in a report on Monday, May 8th. Vetr cut shares of Fossil Group from a strong-buy rating to a buy rating and set a $18.50 price objective on the stock. in a report on Monday, April 17th. Wells Fargo & Company set a $12.00 price objective on shares of Fossil Group and gave the stock a sell rating in a report on Wednesday, May 10th. Finally, BidaskClub upgraded shares of Fossil Group from a sell rating to a hold rating in a report on Wednesday, July 19th. Three research 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’s stock. Fossil Group presently has an average rating of Hold and an average target price of $18.75.
In related news, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $11.29, for a total transaction of $12,136,750.00. Following the transaction, the chairman now owns 4,183,047 shares in the company, valued at $47,226,600.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the stock in a transaction that occurred on 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 transaction, the chairman now owns 3,445,546 shares in the company, valued at approximately $36,901,797.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,220,281 shares of company stock worth $23,790,210. 12.80% of the stock is owned by 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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