Brokers Offer Predictions for Fossil Group Inc.’s FY2016 Earnings (FOSL)
Fossil Group Inc. (NASDAQ:FOSL) – KeyCorp boosted their FY2016 earnings per share estimates for Fossil Group in a report released on Wednesday. KeyCorp analyst E. Yruma now forecasts that the brokerage will post earnings per share of $2.05 for the year, up from their previous estimate of $1.80. KeyCorp has a “Overweight” rating and a $42.00 price objective on the stock. KeyCorp also issued estimates for Fossil Group’s Q3 2017 earnings at $0.54 EPS and FY2017 earnings at $2.25 EPS.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Fossil Group had a return on equity of 12.56% and a net margin of 3.24%. The firm earned $738 million during the quarter, compared to analysts’ expectations of $739.12 million. During the same period in the prior year, the business earned $1.19 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year.
FOSL has been the topic of several other reports. Zacks Investment Research raised Fossil Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 6th. Piper Jaffray Cos. reaffirmed a “sell” rating and issued a $23.00 target price on shares of Fossil Group in a report on Tuesday, November 8th. Cowen and Company reaffirmed a “market perform” rating and issued a $25.00 target price (down from $30.00) on shares of Fossil Group in a report on Friday, November 4th. OTR Global raised Fossil Group to a “neutral” rating in a report on Tuesday, November 1st. Finally, Mizuho reduced their target price on Fossil Group from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, November 4th. Seven investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. Fossil Group currently has a consensus rating of “Hold” and a consensus price target of $30.15.
Fossil Group (NASDAQ:FOSL) opened at 34.33 on Thursday. Fossil Group has a 12-month low of $23.10 and a 12-month high of $51.93. The stock has a market capitalization of $1.65 billion, a PE ratio of 16.72 and a beta of 1.66. The stock has a 50 day moving average price of $28.94 and a 200-day moving average price of $29.50.
A number of institutional investors have recently modified their holdings of FOSL. JPMorgan Chase & Co. increased its position in shares of Fossil Group by 7.4% in the first quarter. JPMorgan Chase & Co. now owns 95,732 shares of the company’s stock worth $4,253,000 after buying an additional 6,569 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Fossil Group by 166.6% in the first quarter. Renaissance Technologies LLC now owns 257,011 shares of the company’s stock worth $11,416,000 after buying an additional 160,611 shares during the last quarter. AMP Capital Investors Ltd increased its position in shares of Fossil Group by 86.2% in the first quarter. AMP Capital Investors Ltd now owns 11,661 shares of the company’s stock worth $514,000 after buying an additional 5,400 shares during the last quarter. Invictus RG increased its position in shares of Fossil Group by 113.5% in the first quarter. Invictus RG now owns 2,690 shares of the company’s stock worth $119,000 after buying an additional 1,430 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Fossil Group during the first quarter worth about $986,000. 97.33% of the stock is owned by institutional investors.
About Fossil Group
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments are 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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