Fossil Group (NASDAQ:FOSL) Posts Earnings Results, Beats Expectations By $0.11 EPS

Key Points

• Fossil Group reported an earnings per share (EPS) of ($0.10), exceeding analysts' expectations by $0.11, with revenues reaching $220.40 million, surpassing the forecast of $198.04 million.
• The company's stock price increased by 29.8% to $2.35, with a significant trading volume of 4,443,890 shares.
• Several research firms have upgraded Fossil Group's rating to "buy", indicating positive growth forecasts moving forward.

Fossil Group (NASDAQ:FOSL - Get Free Report) posted its quarterly earnings results on Wednesday. The accessories brand company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.11, Zacks reports. Fossil Group had a negative return on equity of 23.80% and a negative net margin of 8.55%. The firm had revenue of $220.40 million during the quarter, compared to the consensus estimate of $198.04 million.

Fossil Group Stock Up 29.8%

Shares of NASDAQ:FOSL traded up $0.54 during trading on Thursday, hitting $2.35. The company's stock had a trading volume of 4,443,890 shares, compared to its average volume of 350,945. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.14 and a current ratio of 1.84. Fossil Group has a fifty-two week low of $0.86 and a fifty-two week high of $2.61. The stock's 50-day moving average price is $1.58 and its two-hundred day moving average price is $1.43. The company has a market capitalization of $126.04 million, a PE ratio of -1.31 and a beta of 2.53.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FOSL. Wall Street Zen raised Fossil Group from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Maxim Group began coverage on Fossil Group in a research report on Tuesday, July 1st. They set a "buy" rating and a $5.00 price target for the company.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Jane Street Group LLC lifted its stake in shares of Fossil Group by 93.1% in the first quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company's stock worth $49,000 after acquiring an additional 20,530 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Fossil Group by 43.6% in the first quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company's stock worth $166,000 after acquiring an additional 43,849 shares in the last quarter. XTX Topco Ltd acquired a new stake in Fossil Group during the second quarter valued at approximately $122,000. Finally, Acadian Asset Management LLC raised its stake in Fossil Group by 154.1% during the first quarter. Acadian Asset Management LLC now owns 459,023 shares of the accessories brand company's stock valued at $527,000 after buying an additional 278,391 shares in the last quarter. Institutional investors and hedge funds own 61.14% of the company's stock.

Fossil Group Company Profile

Fossil Group, Inc, together with its subsidiaries, designs, develops, markets, and distributes consumer fashion accessories in the United States, Europe, Asia, and internationally. The company's products include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts, and sunglasses.

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