KeyCorp Comments on Fossil Group Inc.’s Q4 2016 Earnings (FOSL)
Fossil Group Inc. (NASDAQ:FOSL) – Analysts at KeyCorp boosted their Q4 2016 earnings per share estimates for shares of Fossil Group in a research note issued to investors on Wednesday. KeyCorp analyst E. Yruma now forecasts that the firm will post earnings per share of $1.32 for the quarter, up from their prior estimate of $1.07. KeyCorp has a “Overweight” rating and a $42.00 price target on the stock. KeyCorp also issued estimates for Fossil Group’s Q4 2017 earnings at $1.40 EPS.
Several other equities analysts have also recently weighed in on FOSL. Mizuho cut their target price on shares of Fossil Group from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, November 4th. Buckingham Research began coverage on shares of Fossil Group in a research note on Wednesday, October 26th. They set an “underperform” rating and a $23.00 target price for the company. Jefferies Group reaffirmed a “hold” rating and set a $24.00 target price (down from $29.00) on shares of Fossil Group in a research note on Friday, November 4th. Telsey Advisory Group cut their target price on shares of Fossil Group from $32.00 to $27.00 and set a “market perform” rating for the company in a research note on Friday, November 4th. Finally, Piper Jaffray Cos. reaffirmed an “underweight” rating and set a $25.00 target price on shares of Fossil Group in a research note on Saturday, August 13th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $30.15.
Fossil Group (NASDAQ:FOSL) opened at 34.33 on Friday. Fossil Group has a 52 week low of $23.10 and a 52 week high of $51.93. The company has a market capitalization of $1.65 billion, a P/E ratio of 16.72 and a beta of 1.66. The stock’s 50 day moving average is $28.94 and its 200 day moving average is $29.50.
Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. The firm earned $738 million during the quarter, compared to the consensus estimate of $739.12 million. Fossil Group had a net margin of 3.24% and a return on equity of 12.56%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 earnings per share.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in Fossil Group by 93.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 22,131 shares of the company’s stock worth $615,000 after buying an additional 10,700 shares during the period. LPL Financial LLC acquired a new position in Fossil Group during the third quarter worth approximately $295,000. Schafer Cullen Capital Management Inc. increased its position in Fossil Group by 6.9% in the third quarter. Schafer Cullen Capital Management Inc. now owns 12,852 shares of the company’s stock worth $357,000 after buying an additional 833 shares during the period. Credit Suisse AG increased its position in shares of Fossil Group by 1.6% in the third quarter. Credit Suisse AG now owns 96,686 shares of the company’s stock worth $2,685,000 after buying an additional 1,536 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Fossil Group by 68.0% in the third quarter. Ameritas Investment Partners Inc. now owns 16,247 shares of the company’s stock worth $451,000 after buying an additional 6,578 shares during the last quarter. 97.33% of the stock is currently owned by institutional investors and hedge funds.
Fossil Group Company Profile
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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