Zacks: Analysts Expect Fossil Group Inc (FOSL) Will Post Earnings of -$0.53 Per Share

Equities research analysts expect Fossil Group Inc (NASDAQ:FOSL) to announce ($0.53) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Fossil Group’s earnings, with estimates ranging from ($0.54) to ($0.51). Fossil Group reported earnings of ($0.99) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 46.5%. The company is expected to report its next quarterly earnings report on Tuesday, May 14th.

On average, analysts expect that Fossil Group will report full year earnings of $0.64 per share for the current fiscal year, with EPS estimates ranging from $0.46 to $0.82. For the next year, analysts forecast that the company will post earnings of $0.35 per share, with EPS estimates ranging from ($0.48) to $1.17. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for 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 the Thomson Reuters’ consensus estimate of $1.27 by ($0.26). The firm had revenue of $786.90 million for the quarter, compared to analyst estimates of $805.17 million. Fossil Group had a negative net margin of 0.14% and a positive return on equity of 3.86%. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS.

Several equities analysts have recently weighed in on FOSL shares. BidaskClub raised shares of Fossil Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 9th. ValuEngine downgraded shares of Fossil Group from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Zacks Investment Research downgraded shares of Fossil Group from a “hold” rating to a “strong sell” rating in a research note on Monday, February 18th. Wells Fargo & Co decreased their price target on shares of Fossil Group from $14.00 to $8.00 and set an “underperform” rating on the stock in a research note on Thursday, February 14th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 price target on shares of Fossil Group in a research note on Thursday, February 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Fossil Group has a consensus rating of “Hold” and an average price target of $20.00.

NASDAQ:FOSL opened at $13.07 on Monday. The company has a current ratio of 2.08, a quick ratio of 1.45 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $650.51 million, a PE ratio of 16.76 and a beta of 0.19. Fossil Group has a twelve month low of $12.70 and a twelve month high of $32.17.

In other Fossil Group news, Chairman Kosta N. Kartsotis sold 50,000 shares of Fossil Group stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $15.92, for a total transaction of $796,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gregory A. Mckelvey sold 249,940 shares of Fossil Group stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $14.64, for a total transaction of $3,659,121.60. The disclosure for this sale can be found here. Company insiders own 8.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of FOSL. Morgan Stanley grew its holdings in shares of Fossil Group by 364.8% in 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 in the last quarter. First Trust Advisors LP purchased a new stake in shares of Fossil Group during the 4th quarter worth approximately $2,315,000. United Services Automobile Association lifted its position in shares of Fossil Group by 9.3% during the 4th quarter. United Services Automobile Association now owns 11,045 shares of the accessories brand company’s stock worth $174,000 after buying an additional 943 shares during the last quarter. Vanguard Group Inc lifted its position in shares of 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 worth $129,035,000 after buying an additional 1,235,339 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Fossil Group by 0.5% during the 4th quarter. FMR LLC now owns 7,417,523 shares of the accessories brand company’s stock worth $116,677,000 after buying an additional 40,142 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

About Fossil Group

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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