Zacks: Brokerages Expect Fossil Group Inc (FOSL) Will Post Quarterly Sales of $889.17 Million

Wall Street brokerages predict that Fossil Group Inc (NASDAQ:FOSL) will announce sales of $889.17 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Fossil Group’s earnings. The lowest sales estimate is $871.58 million and the highest is $914.30 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 quarterly earnings results 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 financial year, analysts anticipate that the firm will report sales of $2.69 billion per share, with estimates ranging from $2.64 billion to $2.78 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Fossil Group.

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

Several analysts have issued reports on FOSL shares. BidaskClub downgraded shares of Fossil Group from a “buy” rating to a “hold” rating in a report on Friday. Piper Jaffray Companies set a $10.00 price target on shares of Fossil Group and gave the company a “hold” rating in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. ValuEngine downgraded shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Friday. Finally, Buckingham Research downgraded shares of Fossil Group from a “neutral” rating to an “underperform” rating in a report on Friday, January 5th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.27.

In other news, EVP Martin Frey acquired 7,500 shares of Fossil Group stock in a transaction that occurred on Wednesday, November 22nd. The shares were acquired at an average price of $7.41 per share, with a total value of $55,575.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory A. Mckelvey acquired 110,000 shares of Fossil Group stock in a transaction that occurred on Friday, November 10th. The shares were purchased 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. Corporate insiders own 12.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Shell Asset Management Co. acquired a new position in Fossil Group during the third quarter worth approximately $652,000. GSA Capital Partners LLP acquired a new position in Fossil Group during the second quarter worth approximately $120,000. BlueCrest Capital Management Ltd acquired a new position in Fossil Group during the second quarter worth approximately $130,000. KBC Group NV increased its position in Fossil Group by 167.9% during the third quarter. KBC Group NV now owns 13,441 shares of the accessories brand company’s stock worth $125,000 after purchasing an additional 8,424 shares during the last quarter. Finally, Unison Advisors LLC acquired a new position in Fossil Group during the fourth quarter worth approximately $107,000. 91.92% of the stock is currently owned by institutional investors and hedge funds.

Shares of Fossil Group (NASDAQ FOSL) opened at $7.48 on Monday. Fossil Group has a fifty-two week low of $5.50 and a fifty-two week high of $26.01. The stock has a market cap of $362.99, a PE ratio of 9.12 and a beta of 0.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.32 and a quick ratio of 1.09.

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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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