Fossil Group, Inc. (NASDAQ:FOSL) Updates FY17 Earnings Guidance

Fossil Group, Inc. (NASDAQ:FOSL) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of ($0.32)-0.48 for the period, compared to the Thomson Reuters consensus estimate of ($0.19). Fossil Group also updated its Q3 guidance to ($0.38)-(0.05) EPS.

Fossil Group, Inc. (FOSL) traded down 3.60% during trading on Friday, hitting $7.49. 3,735,836 shares of the stock were exchanged. Fossil Group, Inc. has a 52 week low of $7.28 and a 52 week high of $36.87. The stock has a 50 day moving average of $10.08 and a 200-day moving average of $14.49. The stock’s market cap is $363.42 million.

Fossil Group (NASDAQ:FOSL) last announced its earnings results on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. The firm had revenue of $596.80 million for 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 company’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 EPS. Equities analysts expect that Fossil Group, Inc. will post $0.47 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on FOSL shares. Cowen and Company cut their target price on shares of Fossil Group from $15.00 to $12.00 and set a market perform rating on the stock in a research note on Wednesday, May 10th. Piper Jaffray Companies reaffirmed a hold rating and set a $15.00 target price on shares of Fossil Group in a research note on Friday, July 14th. Zacks Investment Research raised shares of Fossil Group from a strong sell rating to a hold rating in a research note on Monday, May 8th. ValuEngine lowered shares of Fossil Group from a buy rating to a hold rating in a research note on Tuesday, August 1st. Finally, BidaskClub raised shares of Fossil Group from a sell rating to a hold rating in a research note 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 stock. Fossil Group presently has an average rating of Hold and a consensus price target of $16.23.

In other news, insider Gregory A. Mckelvey bought 32,798 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $8.51 per share, for a total transaction of $279,110.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $10.71, for a total transaction of $5,572,209.51. Following the transaction, the chairman now directly owns 3,445,546 shares of the company’s stock, valued at $36,901,797.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,220,281 shares of company stock worth $23,790,210. Insiders own 12.80% of the company’s stock.

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About Fossil Group

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.

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

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