Jefferies Group Equities Analysts Cut Earnings Estimates for Fossil Group, Inc. (NASDAQ:FOSL)
Fossil Group, Inc. (NASDAQ:FOSL) – Equities researchers at Jefferies Group dropped their Q3 2017 EPS estimates for Fossil Group in a note issued to investors on Wednesday. Jefferies Group analyst R. Konik now expects that the accessories brand company will post earnings per share of ($0.14) for the quarter, down from their previous forecast of $0.23. Jefferies Group has a “Hold” rating and a $13.00 price objective on the stock. Jefferies Group also issued estimates for Fossil Group’s Q4 2017 earnings at $1.29 EPS, FY2017 earnings at $0.55 EPS and FY2018 earnings at $0.78 EPS.
Fossil Group (NASDAQ:FOSL) last announced its quarterly earnings data on Tuesday, August 8th. The accessories brand company reported ($0.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. The business 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 was down 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.12 EPS. TRADEMARK VIOLATION WARNING: “Jefferies Group Equities Analysts Cut Earnings Estimates for Fossil Group, Inc. (NASDAQ:FOSL)” was first published by Watch List News and is the property of of Watch List News. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://www.watchlistnews.com/jefferies-group-equities-analysts-cut-earnings-estimates-for-fossil-group-inc-nasdaqfosl/1471783.html.
Other equities research analysts have also issued reports about the company. ValuEngine upgraded Fossil Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Vetr lowered Fossil Group from a “strong-buy” rating to a “buy” rating and set a $18.50 price objective for the company. in a research report on Monday, April 17th. Zacks Investment Research upgraded Fossil Group from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Thursday, August 3rd. TheStreet lowered Fossil Group from a “c-” rating to a “d+” rating in a research report on Thursday, May 11th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $15.00 price objective on shares of Fossil Group in a research report on Friday, July 14th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.23.
Fossil Group (FOSL) opened at 8.81 on Friday. The stock’s market capitalization is $427.29 million. Fossil Group has a one year low of $8.37 and a one year high of $36.87. The stock’s 50 day moving average is $10.42 and its 200 day moving average is $15.24.
Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Fossil Group by 19,301.2% in the first quarter. BlackRock Inc. now owns 5,209,210 shares of the accessories brand company’s stock valued at $90,900,000 after buying an additional 5,182,360 shares during the period. Vanguard Group Inc. raised its stake in Fossil Group by 14.5% in the first quarter. Vanguard Group Inc. now owns 3,644,137 shares of the accessories brand company’s stock valued at $63,591,000 after buying an additional 462,851 shares during the period. JPMorgan Chase & Co. raised its stake in Fossil Group by 3,915.2% in the second quarter. JPMorgan Chase & Co. now owns 2,514,634 shares of the accessories brand company’s stock valued at $26,027,000 after buying an additional 2,452,006 shares during the period. Dimensional Fund Advisors LP raised its stake in Fossil Group by 86.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,746,955 shares of the accessories brand company’s stock valued at $30,484,000 after buying an additional 810,769 shares during the period. Finally, Pacifica Capital Investments LLC raised its stake in Fossil Group by 95.6% in the second quarter. Pacifica Capital Investments LLC now owns 1,220,167 shares of the accessories brand company’s stock valued at $12,629,000 after buying an additional 596,346 shares during the period. Hedge funds and other institutional investors own 97.21% of the company’s stock.
In related news, Chairman Kosta N. Kartsotis sold 625,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $9.73, for a total value of $6,081,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now 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. Over the last 90 days, insiders sold 2,220,281 shares of company stock valued at $23,790,210. Corporate insiders own 12.80% of the company’s stock.
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.
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