NEW YORK (TheStreet) -- Shares of Fossil (FOSL) were gaining 145.4% to $119.71 after-hours Tuesday after the fashion design company beat analysts' estimates for earnings and revenue for the third quarter.
Fossil reported earnings of $1.96 a share for the third quarter, above analysts' estimates of $1.82 a share for the quarter. Revenue grew 10.4% year over year to $894.5 million for the quarter, beating analysts' estimates of $879.05 million for the quarter.
The company said it expects to report earnings of $7 to $7.30 a share for the full year 2014, compared to analysts' estimates of $7.15 a share for the year. Fossil expects full year sales growth of 8.5% to 9.5% for 2014.
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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 multiple strengths, 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 revenue growth, notable return on equity, reasonable valuation levels, 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 has had sub par growth in net income."