Fossil Group, Inc. (NASDAQ:FOSL) issued an update on its third quarter earnings guidance on Tuesday morning. 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.
Shares of Fossil Group, Inc. (NASDAQ:FOSL) traded down 3.60% during midday trading on Friday, reaching $7.49. The company had a trading volume of 3,735,836 shares. Fossil Group, Inc. has a 52-week low of $7.28 and a 52-week high of $36.87. The firm’s market cap is $363.42 million. The company’s 50-day moving average is $10.16 and its 200-day moving average is $14.61.
Fossil Group (NASDAQ:FOSL) last released its earnings results on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.05. Fossil Group had a positive return on equity of 6.34% and a negative net margin of 11.33%. The business had revenue of $596.80 million for the quarter, compared to analyst estimates of $617.89 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. Fossil Group’s revenue was down 12.9% on a year-over-year basis. Equities research analysts expect that Fossil Group, Inc. will post $0.47 EPS for the current fiscal year.
FOSL has been the topic of several research reports. Cowen and Company decreased their target price on Fossil Group from $15.00 to $12.00 and set a market perform rating on the stock in a research report on Wednesday, May 10th. Piper Jaffray Companies reissued a hold rating and set a $15.00 price target on shares of Fossil Group in a research report on Friday, July 14th. Zacks Investment Research raised Fossil Group from a strong sell rating to a hold rating in a research report on Monday, May 8th. ValuEngine downgraded Fossil Group from a buy rating to a hold rating in a research report on Tuesday, August 1st. Finally, BidaskClub raised Fossil Group from a sell rating to a hold rating in a research report on Wednesday, July 19th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $16.23.
In other news, Chairman Kosta N. Kartsotis sold 520,281 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $10.71, for a total value of $5,572,209.51. Following the completion of the transaction, the chairman now directly owns 3,445,546 shares in the company, valued at approximately $36,901,797.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory A. Mckelvey purchased 32,798 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $8.51 per share, with a total value of $279,110.98. The disclosure for this purchase can be found here. Insiders have sold 2,220,281 shares of company stock valued at $23,790,210 over the last 90 days. Corporate 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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