Fossil Group, Inc. (FOSL) Issues Q4 Earnings Guidance
Fossil Group, Inc. (NASDAQ:FOSL) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of ($0.04)-0.51 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.34. The company issued revenue guidance of down 3.5-11% to ~$854-926 million, compared to the consensus revenue estimate of $953.08 million.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Fossil Group from a strong sell rating to a hold rating in a report on Monday, July 17th. Telsey Advisory Group reduced their target price on shares of Fossil Group from $13.00 to $11.00 and set a market perform rating on the stock in a report on Wednesday, August 9th. Piper Jaffray Companies restated a hold rating and set a $15.00 target price on shares of Fossil Group in a report on Friday, July 14th. Wells Fargo & Company restated an underperform rating and set a $8.00 target price on shares of Fossil Group in a report on Thursday, August 3rd. Finally, Jefferies Group LLC restated a hold rating and set a $13.00 target price on shares of Fossil Group in a report on Wednesday, August 9th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $15.90.
Shares of Fossil Group, Inc. (NASDAQ:FOSL) traded down $0.13 during mid-day trading on Tuesday, reaching $6.85. 3,330,000 shares of the company’s stock were exchanged, compared to its average volume of 1,770,000. Fossil Group, Inc. has a 52-week low of $6.80 and a 52-week high of $36.87. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.15 and a quick ratio of 1.66. The firm has a market cap of $332.38, a price-to-earnings ratio of 6.11, a P/E/G ratio of 1.01 and a beta of 0.77.
Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings data on Tuesday, August 8th. The accessories brand company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. Fossil Group had a negative net margin of 11.33% and a positive return on equity of 6.34%. The firm had revenue of $596.80 million for the quarter, compared to analyst estimates of $617.89 million. During the same quarter in the previous year, the business posted $0.12 EPS. The firm’s revenue was down 12.9% compared to the same quarter last year. research analysts predict that Fossil Group, Inc. will post 0.68 EPS for the current fiscal year.
In related news, Director James M. Zimmerman bought 36,000 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were acquired at an average price of $8.30 per share, for a total transaction of $298,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gregory A. Mckelvey bought 5,712 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average price of $8.73 per share, for a total transaction of $49,865.76. The disclosure for this purchase can be found here. Insiders acquired a total of 114,945 shares of company stock worth $923,917 in the last quarter. 12.80% of the stock is currently owned by company insiders.
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About Fossil Group
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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