Movado Group Inc. (NYSE:MOV) is scheduled to post its quarterly earnings results before the market opens on Monday, November 20th. Analysts expect Movado Group to post earnings of C$0.86 per share for the quarter. Movado Group has set its FY18 guidance at $1.50-1.65 EPS.
Movado Group (NYSE:MOV) last issued its earnings results on Tuesday, August 29th. The company reported C$0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.25 by C$0.18. The firm had revenue of C$128.80 million for the quarter, compared to analysts’ expectations of C$122.00 million. Movado Group had a net margin of 4.97% and a return on equity of 7.74%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the business earned $0.27 earnings per share. On average, analysts expect Movado Group to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Shares of Movado Group Inc. (NYSE MOV) opened at C$27.15 on Monday. The firm has a market cap of $623.64, a price-to-earnings ratio of 17.29 and a beta of 0.18. Movado Group Inc. has a fifty-two week low of C$20.50 and a fifty-two week high of C$31.95. The company has a quick ratio of 3.20, a current ratio of 5.26 and a debt-to-equity ratio of 0.05.
Movado Group announced that its board has authorized a stock repurchase plan on Tuesday, August 29th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
In other Movado Group news, Director Nathan Leventhal sold 3,130 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of C$28.05, for a total transaction of C$87,796.50. Following the completion of the transaction, the director now owns 14,565 shares of the company’s stock, valued at C$408,548.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sallie A. Demarsilis sold 8,977 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of C$28.50, for a total value of C$255,844.50. Following the transaction, the chief financial officer now directly owns 37,379 shares of the company’s stock, valued at approximately C$1,065,301.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,611 shares of company stock worth $412,201. 32.98% of the stock is currently owned by company insiders.
Several analysts recently weighed in on the stock. ValuEngine upgraded shares of Movado Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Movado Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. KeyCorp reiterated a “hold” rating on shares of Movado Group in a report on Wednesday, October 11th. Finally, BidaskClub cut shares of 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, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of C$30.33.
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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