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

Fossil Group, Inc. (NASDAQ:FOSL) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of ($0.50)-0.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.91. The company issued revenue guidance of flat to down 6.5% to ~$2.84-3.04 billion, compared to the consensus revenue estimate of $3.06 billion.Fossil Group also updated its Q1 guidance to ($1.03)-(0.92) EPS.

A number of brokerages have recently issued reports on FOSL. Mizuho lowered Fossil Group from a neutral rating to an underperform rating and cut their target price for the stock from $25.00 to $19.00 in a research report on Friday. Zacks Investment Research lowered Fossil Group from a buy rating to a hold rating in a research report on Tuesday. Piper Jaffray Companies reaffirmed a hold rating and set a $32.00 target price on shares of Fossil Group in a research report on Friday, December 23rd. Telsey Advisory Group dropped their price target on Fossil Group from $32.00 to $27.00 and set a market perform rating on the stock in a research report on Friday, November 4th. Finally, TheStreet raised Fossil Group from a sell rating to a hold rating in a research report on Wednesday, December 7th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. Fossil Group presently has a consensus rating of Hold and a consensus price target of $30.10.

Shares of Fossil Group, Inc. (NASDAQ:FOSL) traded down 0.48% during trading on Tuesday, hitting $22.87. The stock had a trading volume of 4,476,119 shares. Fossil Group, Inc. has a 12-month low of $22.46 and a 12-month high of $51.93. The stock’s 50-day moving average is $25.09 and its 200-day moving average is $28.80. The stock has a market capitalization of $1.10 billion, a P/E ratio of 11.13 and a beta of 1.59.

Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Tuesday, February 14th. The company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.20. The firm earned $959 million during the quarter, compared to analyst estimates of $977.13 million. Fossil Group had a net margin of 3.24% and a return on equity of 12.56%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. Analysts predict that Fossil Group, Inc. will post $1.92 EPS for the current fiscal year.

In other news, insider Darren E. Hart sold 13,125 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $34.42, for a total transaction of $451,762.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elaine B. Agather sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $31.77, for a total transaction of $57,186.00. The disclosure for this sale can be found here. Company insiders own 13.80% of the company’s stock.

This report was first posted by sleekmoney and is the sole property of of sleekmoney. If you are reading this report on another site, it was illegally copied and republished in violation of United States & international copyright & trademark law. The correct version of this report can be accessed at http://sleekmoney.com/fossil-group-inc-fosl-updates-fy17-earnings-guidance/1660973.html.

About Fossil Group

Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments are 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.

5 Day Chart for NASDAQ:FOSL

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/fossil-group-inc-fosl-updates-fy17-earnings-guidance/1660973.html

Receive News & Ratings for Fossil Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fossil Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *