Jefferies Encourages Investors to Buy Shares of Fossil (FOSL) Ahead of Holiday Season and Tomorrows Earnings
Tweet
Share
E-mail
Get Alerts FOSL Hot Sheet
Price: $5.61 +0.54%
Rating Summary:
4 Buy, 11 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
4 Buy, 11 Hold, 11 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Join SI Premium – FREE
Jefferies is reiterating its Buy rating and $130 price target on shares of Fossil (NASDAQ: FOSL) ahead of the release of its third quarter results and conference.
The company is expected to announce its third quarter results tomorrow before the opening bell. The Street is currently forecasting earnings of $1.03 for the quarter on $642.21 million in sales. The firm is slightly bullish as it estimates EPS of $1.05 for the quarter on 22 percent sales growth.
Jefferies anticipates management will reaffirm its fourth quarter guidance of 22-24 percent sales growth and EPS of $1.78-$1.82. Margins should be higher due to stronger sales out of Asia. The firm is estimating EPS of $1.82 for the fourth quarter.
An analyst at Jefferies comments, "The watch cycle is the best product cycle in consumer discretionary right now, in our opinion, with FOSL likely to be a primary beneficiary. We believe this provides FOSL strong momentum both domestically and globally given its dominant position in the category. We view current valuation as attractive and remain buyers."
For fiscal 2011 and 2012, Jefferies is currently estimating EPS of $4.52 and $5.60 on $2.59 billion and $3.11 billion in sales.
For more ratings news on Fossil click here and for the rating history of Fossil click here.
Shares of Fossil closed at $97.40 yesterday.
The company is expected to announce its third quarter results tomorrow before the opening bell. The Street is currently forecasting earnings of $1.03 for the quarter on $642.21 million in sales. The firm is slightly bullish as it estimates EPS of $1.05 for the quarter on 22 percent sales growth.
Jefferies anticipates management will reaffirm its fourth quarter guidance of 22-24 percent sales growth and EPS of $1.78-$1.82. Margins should be higher due to stronger sales out of Asia. The firm is estimating EPS of $1.82 for the fourth quarter.
An analyst at Jefferies comments, "The watch cycle is the best product cycle in consumer discretionary right now, in our opinion, with FOSL likely to be a primary beneficiary. We believe this provides FOSL strong momentum both domestically and globally given its dominant position in the category. We view current valuation as attractive and remain buyers."
For fiscal 2011 and 2012, Jefferies is currently estimating EPS of $4.52 and $5.60 on $2.59 billion and $3.11 billion in sales.
For more ratings news on Fossil click here and for the rating history of Fossil click here.
Shares of Fossil closed at $97.40 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Bernstein remains bullish on SpaceX but sees challenges in telecom ambitions
- Faraday Future signs robotics distributor deal, plans partner event
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Jefferies & Co, EarningsSign 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!
