Fossil Group (NASDAQ:FOSL) Announces Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Fossil Group (NASDAQ:FOSL) issued its earnings results on Wednesday. The accessories brand company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17), FiscalAI reports. The firm had revenue of $280.50 million for the quarter, compared to analysts’ expectations of $249.28 million. Fossil Group had a negative return on equity of 18.08% and a negative net margin of 6.32%.

Fossil Group Trading Up 2.2%

NASDAQ:FOSL traded up $0.09 on Wednesday, reaching $4.12. 1,002,100 shares of the company’s stock were exchanged, compared to its average volume of 672,239. The firm has a market capitalization of $225.12 million, a price-to-earnings ratio of -3.24 and a beta of 1.68. Fossil Group has a 52-week low of $0.86 and a 52-week high of $5.00. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 1.76. The business has a fifty day moving average of $3.95 and a 200-day moving average of $3.25.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FOSL. Northland Securities began coverage on shares of Fossil Group in a report on Thursday, February 19th. They set an “outperform” rating and a $7.00 price target for the company. Zacks Research raised Fossil Group to a “hold” rating in a research note on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Fossil Group in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $6.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FOSL. Bridgeway Capital Management LLC increased its stake in Fossil Group by 2.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 425,182 shares of the accessories brand company’s stock worth $629,000 after buying an additional 10,249 shares during the period. Empowered Funds LLC grew its stake in shares of Fossil Group by 10.4% in the fourth quarter. Empowered Funds LLC now owns 114,403 shares of the accessories brand company’s stock worth $430,000 after acquiring an additional 10,824 shares in the last quarter. Wexford Capital LP acquired a new position in shares of Fossil Group in the third quarter worth $28,000. Ameriprise Financial Inc. increased its position in shares of Fossil Group by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 2,461,746 shares of the accessories brand company’s stock worth $3,643,000 after acquiring an additional 13,091 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Fossil Group in the third quarter valued at $39,000. Institutional investors and hedge funds own 61.14% of the company’s stock.

About Fossil Group

Fossil Group, Inc designs, develops, markets and distributes consumer fashion accessories, focusing on lifestyle and wearable technology. The company offers a wide range of products including analog and digital watches, smartwatches, jewelry, handbags, small leather goods and wearable devices. It sells merchandise under its own Fossil brand and via license agreements with international labels such as Michael Kors, Armani Exchange, Burberry, Diesel, DKNY, Kate Spade and Tory Burch. Through its proprietary e-commerce platforms and global retail network, Fossil Group serves markets across North America, Europe, Asia and the Middle East.

The group’s wearable technology segment combines traditional timepieces with features such as fitness tracking, heart-rate monitoring and NFC payments.