By early afternoon, shares had plummeted 8.9% to $101.51.
Over the three months to March, the watchmaker earned $1.11 a share, 6 cents lower than analysts surveyed by Thomson Reuters forecast. Additionally, for its second quarter, management guided for net income between 90 cents and 97 cents a share, below consensus of $1 a share.
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TheStreet Ratings team rates FOSSIL GROUP INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FOSSIL GROUP INC (FOSL) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, notable return on equity, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
- You can view the full analysis from the report here: FOSL Ratings Report