Fossil Group (NASDAQ:FOSL) Releases Quarterly 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 analysts’ consensus estimates of ($0.36) by ($0.27), FiscalAI reports. The business had revenue of $270.20 million for the quarter, compared to analyst estimates of $233.32 million. Fossil Group had a negative return on equity of 12.07% and a negative net margin of 5.49%.

Fossil Group Trading Down 9.1%

NASDAQ:FOSL traded down $0.21 during mid-day trading on Thursday, reaching $2.10. 1,126,173 shares of the company’s stock traded hands, compared to its average volume of 543,890. Fossil Group has a 12-month low of $0.86 and a 12-month high of $4.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 1.17. The company has a 50 day moving average price of $2.60 and a 200-day moving average price of $2.04. The firm has a market capitalization of $112.95 million, a price-to-earnings ratio of -1.89 and a beta of 2.17.

Institutional Trading of Fossil Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in Fossil Group by 43.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 144,375 shares of the accessories brand company’s stock valued at $166,000 after purchasing an additional 43,849 shares during the period. Jane Street Group LLC boosted its stake in shares of Fossil Group by 93.1% during 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. Acadian Asset Management LLC boosted its stake in shares of Fossil Group by 154.1% during the 1st quarter. Acadian Asset Management LLC now owns 459,023 shares of the accessories brand company’s stock valued at $527,000 after purchasing an additional 278,391 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Fossil Group during the second quarter valued at about $122,000. Finally, Nantahala Capital Management LLC raised its stake in Fossil Group by 21.5% in the second 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 in the last quarter. Hedge funds and other institutional investors own 61.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. 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 restated a “sell (d-)” rating on shares of Fossil Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Fossil Group has a consensus rating of “Hold” and a consensus target price 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.