Analysts Anticipate Fossil Group Inc (FOSL) Will Post Quarterly Sales of $454.25 Million

Brokerages predict that Fossil Group Inc (NASDAQ:FOSL) will announce sales of $454.25 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Fossil Group’s earnings, with the lowest sales estimate coming in at $443.80 million and the highest estimate coming in at $464.70 million. Fossil Group reported sales of $569.20 million during the same quarter last year, which indicates a negative year-over-year growth rate of 20.2%. The company is expected to announce its next quarterly earnings report on Tuesday, May 14th.

On average, analysts expect that Fossil Group will report full-year sales of $2.25 billion for the current fiscal year, with estimates ranging from $2.23 billion to $2.27 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.19 billion, with estimates ranging from $2.18 billion to $2.21 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Fossil Group.

Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results on Wednesday, February 13th. The accessories brand company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.26). Fossil Group had a negative net margin of 0.14% and a positive return on equity of 3.86%. The business had revenue of $786.90 million for the quarter, compared to the consensus estimate of $805.17 million. During the same period in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis.

FOSL has been the subject of a number of recent analyst reports. ValuEngine downgraded Fossil Group from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub cut shares of Fossil Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Zacks Investment Research downgraded shares of Fossil Group from a “hold” rating to a “strong sell” rating in a research report on Monday, February 18th. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 price objective on shares of Fossil Group in a report on Thursday, February 14th. Finally, Wells Fargo & Co dropped their target price on shares of Fossil Group from $14.00 to $8.00 and set an “underperform” rating for the company in a research report on Thursday, February 14th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $20.00.

In other Fossil Group news, Chairman Kosta N. Kartsotis sold 50,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $15.92, for a total transaction of $796,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory A. Mckelvey sold 249,940 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $14.64, for a total value of $3,659,121.60. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its position in Fossil Group by 28.7% during the 3rd quarter. Vanguard Group Inc now owns 5,542,764 shares of the accessories brand company’s stock valued at $129,035,000 after acquiring an additional 1,235,339 shares during the period. Vanguard Group Inc. increased its stake in shares of Fossil Group by 28.7% during the third quarter. Vanguard Group Inc. now owns 5,542,764 shares of the accessories brand company’s stock valued at $129,035,000 after purchasing an additional 1,235,339 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Fossil Group by 364.8% during the third quarter. Morgan Stanley now owns 1,391,269 shares of the accessories brand company’s stock valued at $32,389,000 after purchasing an additional 1,091,931 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Fossil Group by 6,214.9% during the third quarter. AQR Capital Management LLC now owns 799,847 shares of the accessories brand company’s stock valued at $18,620,000 after purchasing an additional 787,181 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Fossil Group by 63.9% in the 3rd quarter. Renaissance Technologies LLC now owns 1,533,500 shares of the accessories brand company’s stock worth $35,700,000 after purchasing an additional 598,100 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FOSL traded down $0.14 during mid-day trading on Monday, hitting $13.60. 1,034,406 shares of the company’s stock traded hands, compared to its average volume of 1,707,610. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.45 and a current ratio of 2.08. Fossil Group has a 1 year low of $12.98 and a 1 year high of $32.17. The stock has a market capitalization of $681.64 million, a PE ratio of 17.44 and a beta of 0.19.

Fossil Group Company Profile

Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.

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Earnings History and Estimates for Fossil Group (NASDAQ:FOSL)

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