Fossil Group (NASDAQ:FOSL) Posts Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Fossil Group (NASDAQ:FOSL) released its earnings results on Wednesday. The accessories brand company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17), FiscalAI reports. The business had revenue of $280.50 million for the quarter, compared to the consensus estimate of $249.28 million. Fossil Group had a negative return on equity of 18.08% and a negative net margin of 6.32%.

Fossil Group Stock Performance

FOSL traded up $0.09 during trading hours on Wednesday, hitting $4.12. The stock had a trading volume of 961,565 shares, compared to its average volume of 668,493. Fossil Group has a 1 year low of $0.86 and a 1 year high of $5.00. The company’s fifty day simple moving average is $3.95 and its 200 day simple moving average is $3.25. The stock has a market cap of $225.12 million, a PE ratio of -3.24 and a beta of 1.68. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 1.76.

Hedge Funds Weigh In On Fossil Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOSL. Nantahala Capital Management LLC increased its stake in shares of Fossil Group by 21.5% in the second quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company’s stock worth $7,530,000 after purchasing an additional 898,626 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Fossil Group by 0.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,461,746 shares of the accessories brand company’s stock valued at $3,643,000 after buying an additional 13,091 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Fossil Group by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,325,204 shares of the accessories brand company’s stock worth $5,976,000 after buying an additional 109,316 shares during the period. Kanen Wealth Management LLC bought a new position in Fossil Group in the 4th quarter worth approximately $5,515,000. Finally, Two Sigma Investments LP grew its stake in Fossil Group by 36.0% in the 3rd quarter. Two Sigma Investments LP now owns 948,114 shares of the accessories brand company’s stock valued at $2,437,000 after buying an additional 251,214 shares in the last quarter. Institutional investors own 61.14% of the company’s stock.

Wall Street Analyst Weigh In

FOSL has been the subject of several research reports. Northland Securities started coverage on shares of Fossil Group in a research report on Thursday, February 19th. They set an “outperform” rating and a $7.00 price target for the company. Zacks Research upgraded shares of Fossil Group to a “hold” rating in a research note on Friday, February 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Fossil Group in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.00.

About Fossil Group

Fossil Group, Inc designs, develops, markets and distributes consumer fashion accessories, focusing on lifestyle and wearable technology. The company offers a wide range of products including analog and digital watches, smartwatches, jewelry, handbags, small leather goods and wearable devices. It sells merchandise under its own Fossil brand and via license agreements with international labels such as Michael Kors, Armani Exchange, Burberry, Diesel, DKNY, Kate Spade and Tory Burch. Through its proprietary e-commerce platforms and global retail network, Fossil Group serves markets across North America, Europe, Asia and the Middle East.

The group’s wearable technology segment combines traditional timepieces with features such as fitness tracking, heart-rate monitoring and NFC payments.