Fossil Group (NASDAQ:FOSL) Releases Earnings Results, Beats Estimates By $0.16 EPS

Key Points

• Fossil Group beat quarterly estimates: The company reported an adjusted loss of $0.13 per share, $0.16 better than the expected $0.29 loss, while revenue of $209.7 million exceeded estimates of $199.33 million.
• Shares rose 0.6% to $5.27 following the results. Despite the gain, Fossil remains unprofitable, with a negative net margin of 6.19% and return on equity of 48.51%.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and a $7.00 price target; meanwhile, a company director purchased approximately $100,730 worth of shares.

Fossil Group (NASDAQ:FOSL - Get Free Report) issued its quarterly earnings data on Wednesday. The accessories brand company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.16, FiscalAI reports. The company had revenue of $209.70 million for the quarter, compared to analyst estimates of $199.33 million. Fossil Group had a negative net margin of 6.19% and a negative return on equity of 48.51%.

Fossil Group Stock Up 0.6%

Shares of FOSL traded up $0.03 during mid-day trading on Wednesday, hitting $5.27. 1,116,686 shares of the company traded hands, compared to its average volume of 806,954. The company has a market capitalization of $311.47 million, a PE ratio of -4.62 and a beta of 1.62. The company has a quick ratio of 1.10, a current ratio of 1.72 and a debt-to-equity ratio of 2.32. The business has a 50 day moving average of $4.41 and a 200 day moving average of $4.37. Fossil Group has a 1-year low of $1.70 and a 1-year high of $6.16.

Analyst Ratings Changes

FOSL has been the subject of a number of analyst reports. Wall Street Zen raised shares of Fossil Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Fossil Group in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Fossil Group presently has an average rating of "Hold" and a consensus price target of $7.00.

Insider Buying and Selling

In related news, Director Wendy Lee Schoppert bought 24,331 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was bought at an average cost of $4.14 per share, for a total transaction of $100,730.34. Following the purchase, the director directly owned 120,625 shares of the company's stock, valued at approximately $499,387.50. This trade represents a 25.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fossil Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wexford Capital LP purchased a new position in shares of Fossil Group in the third quarter worth about $28,000. Qube Research & Technologies Ltd purchased a new position in Fossil Group during the 3rd quarter worth approximately $39,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Fossil Group in the third quarter worth $45,000. Jane Street Group LLC increased 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 during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Fossil Group during the fourth quarter worth $63,000. 61.14% of the stock is currently owned by institutional investors and hedge funds.

Fossil Group Company Profile

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.

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