Fossil Group (NASDAQ:FOSL) Releases Earnings Results, Misses Expectations By $0.27 EPS

Fossil Group (NASDAQ:FOSL) released its quarterly earnings data on Thursday. The accessories brand company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.27), FiscalAI reports. Fossil Group had a negative net margin of 5.49% and a negative return on equity of 12.07%. The firm had revenue of $270.20 million during the quarter, compared to the consensus estimate of $233.32 million.

Fossil Group Stock Performance

Shares of NASDAQ:FOSL traded down $0.21 on Thursday, hitting $2.10. The company had a trading volume of 1,126,173 shares, compared to its average volume of 543,890. The stock has a market cap of $112.95 million, a price-to-earnings ratio of -1.89 and a beta of 2.17. The stock has a 50 day moving average price of $2.60 and a 200 day moving average price of $2.04. Fossil Group has a 1-year low of $0.86 and a 1-year high of $4.40. The company has a current ratio of 1.83, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24.

Hedge Funds Weigh In On Fossil Group

A number of large investors have recently made changes to their positions in the company. Jane Street Group LLC boosted its stake in shares of Fossil Group by 93.1% in the 1st quarter. Jane Street Group LLC now owns 42,584 shares of the accessories brand company’s stock valued at $49,000 after purchasing an additional 20,530 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Fossil Group by 551.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,703 shares of the accessories brand company’s stock valued at $76,000 after purchasing an additional 25,146 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Fossil Group in the third quarter valued at approximately $77,000. XTX Topco Ltd bought a new stake in shares of Fossil Group during the second quarter worth $122,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Fossil Group by 43.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company’s stock valued at $166,000 after acquiring an additional 43,849 shares during the last quarter. Institutional investors own 61.14% of the company’s stock.

Analysts Set New Price Targets

FOSL has been the topic of several research reports. Wall Street Zen cut shares of Fossil Group from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Fossil Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.00.

About Fossil Group

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.