Brokers Offer Predictions for Fossil Group, Inc.’s FY2017 Earnings (FOSL)
Fossil Group, Inc. (NASDAQ:FOSL) – Equities research analysts at Jefferies Group lowered their FY2017 earnings per share (EPS) estimates for shares of Fossil Group in a research note issued to investors on Tuesday. Jefferies Group analyst R. Konik now anticipates that the accessories brand company will post earnings of ($0.28) per share for the year, down from their previous forecast of ($0.27). Jefferies Group also issued estimates for Fossil Group’s FY2018 earnings at ($0.50) EPS.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Fossil Group from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Piper Jaffray Companies set a $10.00 price objective on shares of Fossil Group and gave the company a “hold” rating in a research report on Thursday, October 12th. ValuEngine lowered shares of Fossil Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Buckingham Research decreased their price objective on shares of Fossil Group from $9.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Finally, Bank of America decreased their price objective on shares of Fossil Group from $7.00 to $4.00 and set an “underperform” rating for the company in a research report on Wednesday, November 8th. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.54.
Fossil Group (NASDAQ:FOSL) last released its quarterly earnings results on Tuesday, November 7th. The accessories brand company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.32. The business had revenue of $689.00 million for the quarter, compared to analysts’ expectations of $649.87 million. Fossil Group had a negative net margin of 12.33% and a positive return on equity of 4.75%. The company’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS.
In other news, EVP Gregory A. Mckelvey acquired 110,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were acquired at an average price of $6.22 per share, with a total value of $684,200.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Martin Frey acquired 7,500 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were purchased at an average cost of $7.41 per share, for a total transaction of $55,575.00. The disclosure for this purchase can be found here. Company insiders own 12.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC grew its stake in shares of Fossil Group by 0.4% during the 2nd quarter. FMR LLC now owns 7,269,630 shares of the accessories brand company’s stock worth $75,241,000 after purchasing an additional 32,068 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Fossil Group by 3,915.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,514,634 shares of the accessories brand company’s stock worth $26,027,000 after purchasing an additional 2,452,006 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Fossil Group by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,043,074 shares of the accessories brand company’s stock worth $21,146,000 after purchasing an additional 296,119 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Fossil Group by 6,109.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,273,027 shares of the accessories brand company’s stock worth $13,176,000 after purchasing an additional 1,252,527 shares during the period. Finally, Pacifica Capital Investments LLC grew its stake in shares of Fossil Group by 95.6% during the 2nd quarter. Pacifica Capital Investments LLC now owns 1,220,167 shares of the accessories brand company’s stock worth $12,629,000 after purchasing an additional 596,346 shares during the period. 92.72% of the stock is currently owned by institutional investors and hedge funds.
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Fossil Group Company Profile
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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