UPDATE: KeyBanc Downgrades Fossil (FOSL) to Hold; Promotion Levels At Five-Year High
Tweet Send to a FriendGet Alerts FOSL Hot Sheet
Price: $108.16 +0.45%
Rating Summary:
6 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
6 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade FOSL Now!
(Updated - July 2, 2012 2:19 PM EDT)
KeyBanc downgraded Fossil (NASDAQ: FOSL) from Buy to Hold.
Analyst, Jane Thorn Leeson, said, "With full-price stores running promotions at levels not seen in more than five years, we see risk to 2Q/3Q earnings and downgrade our rating...we are reducing our EPS estimates to $0.74 for the 2Q, $1.35 for the 3Q and $5.23 for FY12. At 14.6x 2012 P/E vs. 21.0x P/E for the high-growth peer group, we believe valuation is fair and move to the sidelines."
For an analyst ratings summary and ratings history on Fossil click here. For more ratings news on Fossil click here.
Shares of Fossil closed at $76.54 yesterday, with a 52 week range of $67.69-$139.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
KeyBanc downgraded Fossil (NASDAQ: FOSL) from Buy to Hold.
Analyst, Jane Thorn Leeson, said, "With full-price stores running promotions at levels not seen in more than five years, we see risk to 2Q/3Q earnings and downgrade our rating...we are reducing our EPS estimates to $0.74 for the 2Q, $1.35 for the 3Q and $5.23 for FY12. At 14.6x 2012 P/E vs. 21.0x P/E for the high-growth peer group, we believe valuation is fair and move to the sidelines."
For an analyst ratings summary and ratings history on Fossil click here. For more ratings news on Fossil click here.
Shares of Fossil closed at $76.54 yesterday, with a 52 week range of $67.69-$139.20.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
- Jefferies Downgrades First Republic Bank (FRC) to Hold
- UPDATE: Sterne Agee Downgrades Beazer Homes (BZH) to Neutral
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, Analyst PT Change, DowngradesRelated Entities
KeyBanc, Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
