Movado Group (NYSE:MOV) Announces Earnings Results

Movado Group (NYSE:MOV) announced its quarterly earnings results on Tuesday. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.12), Zacks reports. The business had revenue of $186.13 million during the quarter, compared to the consensus estimate of $185.89 million. Movado Group had a net margin of 2.66% and a return on equity of 5.45%. During the same period last year, the firm earned $0.22 EPS.

Movado Group Stock Up 2.8%

Shares of NYSE:MOV opened at $21.21 on Thursday. Movado Group has a 12-month low of $12.85 and a 12-month high of $22.20. The company’s 50 day moving average price is $18.69 and its two-hundred day moving average price is $17.39. The firm has a market cap of $469.48 million, a PE ratio of 27.54 and a beta of 1.25.

Movado Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Monday, December 8th will be paid a $0.35 dividend. The ex-dividend date is Monday, December 8th. This represents a $1.40 annualized dividend and a yield of 6.6%. Movado Group’s payout ratio is 181.82%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MOV shares. BWS Financial reaffirmed a “buy” rating and set a $31.50 price objective on shares of Movado Group in a research note on Wednesday. Zacks Research raised Movado Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Movado Group in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.50.

Institutional Investors Weigh In On Movado Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. Comerica Bank increased its holdings in Movado Group by 99.0% in the 3rd quarter. Comerica Bank now owns 1,785 shares of the company’s stock valued at $34,000 after buying an additional 888 shares during the period. State of Wyoming acquired a new position in Movado Group during the second quarter valued at approximately $40,000. Quantbot Technologies LP acquired a new position in Movado Group during the second quarter valued at approximately $188,000. Marshall Wace LLP bought a new stake in Movado Group during the second quarter worth $193,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Movado Group by 669.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,482 shares of the company’s stock valued at $218,000 after purchasing an additional 9,990 shares in the last quarter. Institutional investors own 72.08% of the company’s stock.

Movado Group Company Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.