Fossil Group Inc. (FOSL) Shares Down 3.3%
Shares of Fossil Group Inc. (NASDAQ:FOSL) dropped 3.3% during mid-day trading on Wednesday . The company traded as low as $30.68 and last traded at $30.69, with a volume of 620,154 shares trading hands. The stock had previously closed at $31.73.
FOSL has been the topic of a number of recent analyst reports. Piper Jaffray Cos. reaffirmed an “underweight” rating and set a $25.00 price target on shares of Fossil Group in a report on Wednesday, June 22nd. Nomura dropped their price objective on shares of Fossil Group from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, August 10th. Vetr raised shares of Fossil Group from a “sell” rating to a “hold” rating and set a $39.37 price objective on the stock in a report on Thursday, May 5th. Cowen and Company reissued a “market perform” rating and issued a $30.00 price objective on shares of Fossil Group in a report on Wednesday, August 10th. Finally, Jefferies Group reissued a “hold” rating and issued a $32.00 price objective (down previously from $40.00) on shares of Fossil Group in a report on Friday, May 13th. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $30.89.
The firm has a market capitalization of $1.45 billion and a PE ratio of 10.40. The firm’s 50-day moving average price is $30.57 and its 200-day moving average price is $35.62.
Fossil Group (NASDAQ:FOSL) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. The firm earned $685 million during the quarter, compared to analyst estimates of $670.97 million. During the same period in the prior year, the company posted $1.12 earnings per share. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, equities research analysts predict that Fossil Group Inc. will post $1.87 EPS for the current year.
Fossil Group, Inc is a design, marketing and distribution company that specializes in consumer fashion accessories. The Company’s segments are Americas, Europe and Asia. Each segment includes sales to wholesale and distributor customers, and sales through the Company-owned retail stores and e-commerce activities based on the location of the selling entity.
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