Fossil Group (NASDAQ:FOSL) Issues Quarterly Earnings Results, Misses Estimates By $0.27 EPS

Fossil Group (NASDAQ:FOSL) released its quarterly earnings data on Thursday. The accessories brand company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.27), FiscalAI reports. The business had revenue of $270.20 million during the quarter, compared to analyst estimates of $233.32 million. Fossil Group had a negative return on equity of 12.07% and a negative net margin of 5.49%.

Fossil Group Stock Performance

Shares of FOSL traded down $0.21 during trading hours on Thursday, reaching $2.10. 1,151,057 shares of the company’s stock traded hands, compared to its average volume of 544,409. Fossil Group has a twelve month low of $0.86 and a twelve month high of $4.40. The business’s fifty day simple moving average is $2.60 and its two-hundred day simple moving average is $2.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 1.17. The firm has a market capitalization of $112.95 million, a price-to-earnings ratio of -1.89 and a beta of 2.17.

Hedge Funds Weigh In On Fossil Group

Several large investors have recently bought and sold shares of FOSL. Jane Street Group LLC raised its position in shares of Fossil Group by 93.1% during the 1st quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company’s stock worth $49,000 after buying an additional 20,530 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Fossil Group by 551.8% during the third quarter. JPMorgan Chase & Co. now owns 29,703 shares of the accessories brand company’s stock valued at $76,000 after acquiring an additional 25,146 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Fossil Group during the third quarter worth approximately $77,000. XTX Topco Ltd acquired a new stake in Fossil Group in the second quarter worth approximately $122,000. Finally, Goldman Sachs Group Inc. lifted its position in Fossil Group by 43.6% in the first quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company’s stock worth $166,000 after purchasing an additional 43,849 shares during the period. Institutional investors and hedge funds own 61.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FOSL. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fossil Group in a research report on Wednesday, October 8th. Wall Street Zen downgraded Fossil Group from a “buy” rating to a “hold” rating in a research note on Sunday, October 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.00.

About Fossil Group

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company’s products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.