Fossil Group Inc (NASDAQ:FOSL) Expected to Post Quarterly Sales of $496.45 Million

Brokerages expect Fossil Group Inc (NASDAQ:FOSL) to post sales of $496.45 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Fossil Group’s earnings, with the lowest sales estimate coming in at $492.10 million and the highest estimate coming in at $500.80 million. Fossil Group posted sales of $576.60 million in the same quarter last year, which suggests a negative year over year growth rate of 13.9%. The firm is scheduled to announce its next earnings results on Tuesday, August 6th.

On average, analysts expect that Fossil Group will report full year sales of $2.25 billion for the current financial year. For the next financial year, analysts anticipate that the firm will post sales of $2.19 billion, with estimates ranging from $2.18 billion to $2.21 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Fossil Group.

Fossil Group (NASDAQ:FOSL) last announced its earnings results on Wednesday, May 8th. The accessories brand company reported ($0.42) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.53) by $0.11. Fossil Group had a net margin of 1.34% and a return on equity of 8.88%. The company had revenue of $465.30 million for the quarter, compared to analyst estimates of $453.97 million. During the same period in the prior year, the business earned ($0.99) earnings per share. Fossil Group’s quarterly revenue was down 18.3% on a year-over-year basis.

Several equities analysts recently weighed in on FOSL shares. BidaskClub lowered shares of Fossil Group from a “sell” rating to a “strong sell” rating in a report on Friday, May 3rd. Wells Fargo & Co cut their price objective on shares of Fossil Group from $14.00 to $8.00 and set an “underperform” rating on the stock in a report on Thursday, February 14th. ValuEngine upgraded shares of Fossil Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Telsey Advisory Group restated a “market perform” rating and issued a $17.00 price objective on shares of Fossil Group in a report on Thursday, February 14th. Finally, Zacks Investment Research lowered shares of Fossil Group from a “hold” rating to a “strong sell” rating in a report on Monday, February 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Fossil Group presently has an average rating of “Hold” and a consensus target price of $20.00.

In other Fossil Group news, EVP Martin Frey acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average cost of $9.70 per share, for a total transaction of $48,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its stake in Fossil Group by 0.3% in the first quarter. FMR LLC now owns 7,437,523 shares of the accessories brand company’s stock valued at $102,043,000 after purchasing an additional 20,000 shares in the last quarter. BlackRock Inc. increased its stake in Fossil Group by 0.3% in the first quarter. BlackRock Inc. now owns 6,684,037 shares of the accessories brand company’s stock valued at $91,705,000 after purchasing an additional 18,991 shares in the last quarter. Contrarius Investment Management Ltd increased its stake in Fossil Group by 0.6% in the fourth quarter. Contrarius Investment Management Ltd now owns 4,795,032 shares of the accessories brand company’s stock valued at $75,426,000 after purchasing an additional 30,944 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Fossil Group by 41.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,426,277 shares of the accessories brand company’s stock valued at $33,290,000 after purchasing an additional 710,579 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Fossil Group by 57.0% in the first quarter. Renaissance Technologies LLC now owns 2,020,874 shares of the accessories brand company’s stock valued at $27,726,000 after purchasing an additional 733,524 shares in the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

Shares of FOSL stock opened at $11.11 on Friday. Fossil Group has a 1 year low of $9.46 and a 1 year high of $32.17. The company has a market cap of $552.95 million, a PE ratio of 14.24 and a beta of 0.40. The company has a current ratio of 1.99, a quick ratio of 1.22 and a debt-to-equity ratio of 0.86.

Fossil Group Company Profile

Fossil Group, Inc designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. Its principal products include men's and women's fashion watches and jewelry, smartwatches, handbags, small leather goods, belts, and sunglasses.

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Earnings History and Estimates for Fossil Group (NASDAQ:FOSL)

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