News coverage about Movado Group (NYSE:MOV) has trended somewhat positive this week, according to Accern Sentiment. Accern ranks the sentiment of news coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Movado Group earned a coverage optimism score of 0.21 on Accern’s scale. Accern also gave media headlines about the company an impact score of 47.4579673150813 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the media headlines that may have effected Accern Sentiment’s analysis:
- Movado Group Inc. (MOV) Director Nathan Leventhal Sells 3,130 Shares (americanbankingnews.com)
- Movado Group Inc. (MOV) CFO Sells $255,844.50 in Stock (americanbankingnews.com)
- Movado Group Inc. (MOV) Sees Unusually-High Trading Volume on Earnings Beat (currenthollywood.com)
- Movado Group Inc. (NYSE:MOV) Experiences Heavier than Average Trading Volume (wisdomsave.com)
- Asian Watch Conference Unveils the Future of Smart Watches (acnnewswire.com)
Shares of Movado Group (NYSE:MOV) traded up 0.37% during mid-day trading on Tuesday, reaching $27.35. The company had a trading volume of 4,750 shares. The firm’s 50-day moving average price is $24.91 and its 200 day moving average price is $23.80. Movado Group has a 52-week low of $20.50 and a 52-week high of $31.95. The company has a market cap of $624.70 million, a price-to-earnings ratio of 23.60 and a beta of 0.20.
Movado Group (NYSE:MOV) last announced its quarterly earnings data on Tuesday, August 29th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.18. Movado Group had a return on equity of 7.74% and a net margin of 4.97%. The business had revenue of $128.80 million during the quarter, compared to the consensus estimate of $122 million. During the same period in the prior year, the company earned $0.27 EPS. Movado Group’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts expect that Movado Group will post $1.61 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Monday, September 11th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, September 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.91%. Movado Group’s dividend payout ratio is currently 45.22%.
Movado Group declared that its board has approved a stock repurchase plan on Tuesday, August 29th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
A number of research analysts recently issued reports on the company. ValuEngine cut Movado Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised Movado Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, BidaskClub cut Movado Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.33.
In other Movado Group news, Director Nathan Leventhal sold 3,130 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $28.05, for a total value of $87,796.50. Following the completion of the transaction, the director now directly owns 14,565 shares in the company, valued at $408,548.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sallie A. Demarsilis sold 8,977 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $28.50, for a total value of $255,844.50. Following the completion of the transaction, the chief financial officer now owns 37,379 shares of the company’s stock, valued at $1,065,301.50. The disclosure for this sale can be found here. 33.30% of the stock is currently owned by company insiders.
Movado Group Company Profile
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.
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