$889.17 Million in Sales Expected for Fossil Group Inc (FOSL) This Quarter

Analysts predict that Fossil Group Inc (NASDAQ:FOSL) will post sales of $889.17 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Fossil Group’s earnings. The highest sales estimate is $914.30 million and the lowest is $871.58 million. Fossil Group reported sales of $959.20 million in the same quarter last year, which would suggest a negative year over year growth rate of 7.3%. The firm is expected to issue its next earnings report on Tuesday, February 13th.

On average, analysts expect that Fossil Group will report full-year sales of $889.17 million for the current financial year, with estimates ranging from $2.74 billion to $2.78 billion. For the next year, analysts expect that the firm will report sales of $2.68 billion per share, with estimates ranging from $2.64 billion to $2.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Fossil Group.

Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results on Tuesday, November 7th. The accessories brand company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.32. The business had revenue of $689.00 million during the quarter, compared to the consensus estimate of $649.87 million. Fossil Group had a positive return on equity of 4.75% and a negative net margin of 12.33%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS.

A number of equities analysts have issued reports on FOSL shares. Zacks Investment Research downgraded Fossil Group from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Buckingham Research cut their price target on Fossil Group from $9.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, November 8th. Piper Jaffray Companies set a $10.00 price target on Fossil Group and gave the company a “hold” rating in a research note on Thursday, October 12th. Bank of America cut their price target on Fossil Group from $7.00 to $4.00 and set an “underperform” rating for the company in a research note on Wednesday, November 8th. Finally, ValuEngine downgraded Fossil Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Fossil Group has an average rating of “Hold” and an average price target of $11.27.

In related news, EVP Martin Frey purchased 7,500 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were bought at an average price of $7.41 per share, with a total value of $55,575.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregory A. Mckelvey purchased 110,000 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average cost of $6.22 per share, for a total transaction of $684,200.00. The disclosure for this purchase can be found here. 12.80% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Shell Asset Management Co. purchased a new position in Fossil Group in the 3rd quarter valued at approximately $652,000. Northwestern Mutual Investment Management Company LLC purchased a new position in Fossil Group in the 2nd quarter valued at approximately $204,000. GSA Capital Partners LLP purchased a new position in Fossil Group in the 2nd quarter valued at approximately $120,000. BlueCrest Capital Management Ltd purchased a new position in Fossil Group in the 2nd quarter valued at approximately $130,000. Finally, KBC Group NV grew its stake in Fossil Group by 167.9% in the 3rd quarter. KBC Group NV now owns 13,441 shares of the accessories brand company’s stock valued at $125,000 after buying an additional 8,424 shares in the last quarter. 91.83% of the stock is currently owned by institutional investors.

Fossil Group (NASDAQ:FOSL) traded down $0.22 during mid-day trading on Friday, reaching $9.11. The company’s stock had a trading volume of 1,121,500 shares, compared to its average volume of 1,675,017. The firm has a market cap of $478.48, a P/E ratio of -1.27 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.32 and a quick ratio of 1.09. Fossil Group has a fifty-two week low of $5.50 and a fifty-two week high of $26.78.

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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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