Fossil Group (FOSL) Issues Earnings Results

Fossil Group (NASDAQ:FOSL) released its quarterly earnings results on Wednesday. The accessories brand company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.29, Briefing.com reports. The business had revenue of $609.00 million during the quarter, compared to the consensus estimate of $616.30 million. Fossil Group had a negative return on equity of 1.21% and a negative net margin of 5.13%. The company’s quarterly revenue was down 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 EPS. Fossil Group updated its FY 2018 guidance to EPS and its Q4 2018 guidance to EPS.

Shares of NASDAQ FOSL traded down $3.06 during midday trading on Friday, reaching $18.79. The company’s stock had a trading volume of 4,280,776 shares, compared to its average volume of 2,226,899. Fossil Group has a 12-month low of $5.84 and a 12-month high of $32.17. The company has a market capitalization of $1.17 billion, a PE ratio of 375.80 and a beta of -0.10. The company has a quick ratio of 1.13, a current ratio of 2.11 and a debt-to-equity ratio of 0.52.

A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Fossil Group from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. BidaskClub upgraded Fossil Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. Telsey Advisory Group lifted their price target on Fossil Group from $16.00 to $27.00 and gave the company a “market perform” rating in a research note on Friday, August 3rd. KeyCorp lifted their price target on Fossil Group from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Wednesday, August 8th. Finally, TheStreet upgraded Fossil Group from a “d” rating to a “c-” rating in a research note on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $23.00.

In other news, insider Gregory A. Mckelvey sold 26,138 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $26.00, for a total value of $679,588.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Darren E. Hart sold 25,662 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $26.30, for a total value of $674,910.60. Following the completion of the transaction, the executive vice president now owns 116,325 shares in the company, valued at approximately $3,059,347.50. The disclosure for this sale can be found here. 8.20% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in FOSL. Northern Trust Corp boosted its stake in shares of Fossil Group by 1.5% in the 1st quarter. Northern Trust Corp now owns 551,961 shares of the accessories brand company’s stock worth $7,009,000 after buying an additional 7,923 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Fossil Group by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 331,842 shares of the accessories brand company’s stock worth $4,214,000 after buying an additional 8,661 shares during the last quarter. UBS Group AG boosted its stake in shares of Fossil Group by 111.7% in the 1st quarter. UBS Group AG now owns 26,284 shares of the accessories brand company’s stock worth $334,000 after buying an additional 250,953 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Fossil Group by 170.3% in the 1st quarter. Royal Bank of Canada now owns 16,660 shares of the accessories brand company’s stock worth $212,000 after buying an additional 40,353 shares during the last quarter. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Fossil Group in the 2nd quarter worth approximately $207,000. Hedge funds and other institutional investors own 91.15% of the company’s stock.

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About Fossil Group

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories. The company's principal products include a line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, and sunglasses. It offers its products under its proprietary brands, such as FOSSIL, MICHELE, MISFIT, RELIC, SKAGEN, and ZODIAC, as well as under the licensed brands, including ARMANI EXCHANGE, CHAPS, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, KATE SPADE NEW YORK, MARC JACOBS, MICHAEL KORS, and TORY BURCH.

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Earnings History for Fossil Group (NASDAQ:FOSL)

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