Fossil Group, Inc. (NASDAQ:FOSL) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of ($0.38)-(0.05) for the period, compared to the Thomson Reuters consensus EPS estimate of $0.04. Fossil Group also updated its FY17 guidance to ($0.32)-0.48 EPS.
A number of research firms have recently weighed in on FOSL. Telsey Advisory Group cut their price objective on Fossil Group from $13.00 to $11.00 and set a market perform rating on the stock in a research report on Wednesday, August 9th. Bank of America Corporation set a $7.00 price objective on Fossil Group and gave the stock a sell rating in a research report on Wednesday, August 9th. Buckingham Research cut their price objective on Fossil Group from $10.00 to $9.00 and set a neutral rating on the stock in a research report on Wednesday, August 9th. Wells Fargo & Company reaffirmed an underperform rating and set a $7.00 price objective (down previously from $8.00) on shares of Fossil Group in a research report on Thursday, August 10th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $13.00 price objective on shares of Fossil Group in a research report on Wednesday, August 9th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Fossil Group currently has a consensus rating of Hold and a consensus price target of $16.23.
Fossil Group, Inc. (NASDAQ FOSL) traded down 3.60% during trading on Friday, reaching $7.49. 3,735,836 shares of the company’s stock traded hands. The stock’s market capitalization is $363.42 million. The stock has a 50-day moving average price of $10.16 and a 200 day moving average price of $14.61. Fossil Group, Inc. has a 1-year low of $7.28 and a 1-year high of $36.87.
Fossil Group (NASDAQ:FOSL) last issued its quarterly earnings results on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. The company had revenue of $596.80 million during the quarter, compared to analyst estimates of $617.89 million. Fossil Group had a negative net margin of 11.33% and a positive return on equity of 6.34%. The business’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 EPS. Equities research analysts expect that Fossil Group, Inc. will post $0.47 earnings per share for the current year.
In related news, Chairman Kosta N. Kartsotis sold 1,075,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $11.29, for a total transaction of $12,136,750.00. Following the completion of the sale, the chairman now directly owns 4,183,047 shares of the company’s stock, valued at $47,226,600.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gregory A. Mckelvey bought 32,798 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average cost of $8.51 per share, with a total value of $279,110.98. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 2,220,281 shares of company stock valued at $23,790,210. Company insiders own 12.80% of the company’s stock.
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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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