Fossil Group (NASDAQ:FOSL) Posts Earnings Results, Misses Estimates By $0.27 EPS

Fossil Group (NASDAQ:FOSL) issued its quarterly earnings results on Thursday. The accessories brand company reported ($0.63) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $233.32 million.

Fossil Group Stock Performance

Shares of NASDAQ:FOSL opened at $2.10 on Friday. The firm’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $2.04. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 1.83. Fossil Group has a one year low of $0.86 and a one year high of $4.40. The firm has a market cap of $112.95 million, a PE ratio of -1.89 and a beta of 2.17.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FOSL. Nantahala Capital Management LLC lifted its holdings in shares of Fossil Group by 21.5% in the 2nd quarter. Nantahala Capital Management LLC now owns 5,087,803 shares of the accessories brand company’s stock worth $7,530,000 after buying an additional 898,626 shares during the period. Quinn Opportunity Partners LLC raised its holdings in shares of Fossil Group by 4,465.6% in the third quarter. Quinn Opportunity Partners LLC now owns 470,301 shares of the accessories brand company’s stock valued at $1,209,000 after acquiring an additional 460,000 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Fossil Group by 154.1% in the first quarter. Acadian Asset Management LLC now owns 459,023 shares of the accessories brand company’s stock worth $527,000 after acquiring an additional 278,391 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Fossil Group by 47.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 682,841 shares of the accessories brand company’s stock worth $1,755,000 after acquiring an additional 219,716 shares in the last quarter. Finally, UBS Group AG grew its holdings in Fossil Group by 57.0% during the 3rd quarter. UBS Group AG now owns 561,585 shares of the accessories brand company’s stock worth $1,443,000 after acquiring an additional 203,835 shares in the last quarter. 61.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.