Movado Group’s (MOV) Buy Rating Reiterated at BWS Financial

BWS Financial restated their buy rating on shares of Movado Group (NYSE:MOV) in a research report released on Monday morning,Benzinga reports. The brokerage currently has a $31.50 price objective on the stock.

Separately, Wall Street Zen lowered Movado Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 30th.

Movado Group Price Performance

Shares of MOV opened at $16.02 on Monday. The stock has a market capitalization of $356.24 million, a price-to-earnings ratio of 15.40 and a beta of 1.21. Movado Group has a 1 year low of $12.85 and a 1 year high of $26.59. The business’s 50 day simple moving average is $15.19 and its 200-day simple moving average is $17.95.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.31). The firm had revenue of $131.77 million for the quarter, compared to analysts’ expectations of $142.11 million. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. On average, sell-side analysts expect that Movado Group will post 1.05 earnings per share for the current year.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.40 annualized dividend and a yield of 8.74%. Movado Group’s payout ratio is presently 175.00%.

Institutional Trading of Movado Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Coppell Advisory Solutions LLC raised its holdings in Movado Group by 14,191.7% during the 1st quarter. Coppell Advisory Solutions LLC now owns 1,715 shares of the company’s stock valued at $29,000 after buying an additional 1,703 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Movado Group in the fourth quarter worth $47,000. GAMMA Investing LLC increased its stake in Movado Group by 3,303.5% in the first quarter. GAMMA Investing LLC now owns 2,893 shares of the company’s stock worth $48,000 after purchasing an additional 2,808 shares during the period. Harbor Capital Advisors Inc. increased its stake in Movado Group by 1,597.5% in the first quarter. Harbor Capital Advisors Inc. now owns 3,412 shares of the company’s stock worth $57,000 after purchasing an additional 3,211 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in Movado Group in the fourth quarter worth $201,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

About Movado Group

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.