ValuEngine upgraded shares of Movado Group (NYSE:MOV) from a hold rating to a buy rating in a research report released on Sunday.
A number of other equities analysts also recently issued reports on MOV. KeyCorp reaffirmed a hold rating on shares of Movado Group in a research report on Wednesday, October 11th. Zacks Investment Research raised Movado Group from a hold rating to a strong-buy rating and set a $32.00 price target on the stock in a research report on Saturday, September 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $30.33.
Shares of Movado Group (MOV) traded down $0.80 during trading hours on Friday, reaching $31.75. 82,600 shares of the company were exchanged, compared to its average volume of 92,650. The company has a market capitalization of $746.66, a P/E ratio of 30.83 and a beta of 0.20. Movado Group has a 52 week low of $20.50 and a 52 week high of $33.70. The company has a quick ratio of 3.12, a current ratio of 4.80 and a debt-to-equity ratio of 0.05.
Movado Group (NYSE:MOV) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. The business had revenue of $190.69 million for the quarter, compared to the consensus estimate of $176.33 million. Movado Group had a return on equity of 8.34% and a net margin of 4.35%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 earnings per share. equities analysts anticipate that Movado Group will post 1.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, November 30th. Movado Group’s payout ratio is presently 50.49%.
In other news, CFO Sallie A. Demarsilis sold 5,401 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $28.44, for a total transaction of $153,604.44. Following the sale, the chief financial officer now directly owns 31,978 shares of the company’s stock, valued at $909,454.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard D. Isserman sold 2,650 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $32.07, for a total transaction of $84,985.50. Following the sale, the director now directly owns 11,184 shares in the company, valued at $358,670.88. The disclosure for this sale can be found here. Corporate insiders own 32.98% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MOV. Teachers Advisors LLC grew its holdings in shares of Movado Group by 2.9% during the first quarter. Teachers Advisors LLC now owns 35,947 shares of the company’s stock valued at $897,000 after buying an additional 1,011 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Movado Group by 6.1% during the second quarter. Russell Investments Group Ltd. now owns 33,024 shares of the company’s stock valued at $834,000 after buying an additional 1,888 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Movado Group by 9.0% during the second quarter. Legal & General Group Plc now owns 27,810 shares of the company’s stock valued at $701,000 after buying an additional 2,291 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Movado Group by 13.3% during the second quarter. BNP Paribas Arbitrage SA now owns 6,617 shares of the company’s stock valued at $167,000 after buying an additional 776 shares during the last quarter. Finally, Federated Investors Inc. PA grew its holdings in shares of Movado Group by 50.2% during the second quarter. Federated Investors Inc. PA now owns 40,164 shares of the company’s stock valued at $1,014,000 after buying an additional 13,430 shares during the last quarter. 63.85% of the stock is currently owned by hedge funds and other institutional investors.
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About Movado Group
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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