Movado Group (NYSE:MOV) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Movado Group (NYSE:MOV) from a hold rating to a sell rating in a report released on Friday morning.

Separately, BWS Financial reaffirmed a “buy” rating and set a $31.50 price objective on shares of Movado Group in a report on Monday, June 2nd.

Movado Group Trading Up 1.0%

NYSE MOV opened at $15.62 on Friday. The firm has a market cap of $347.34 million, a price-to-earnings ratio of 15.02 and a beta of 1.21. The company has a 50 day moving average of $15.15 and a 200-day moving average of $17.90. Movado Group has a 1-year low of $12.85 and a 1-year high of $26.59.

Movado Group (NYSE:MOV) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.08 earnings per share 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 analyst estimates of $142.11 million. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. On average, analysts forecast 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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date of this dividend is Thursday, June 12th. Movado Group’s dividend payout ratio is currently 175.00%.

Institutional Trading of Movado Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC increased its holdings in shares of Movado Group by 11.9% in the first quarter. Acadian Asset Management LLC now owns 79,208 shares of the company’s stock valued at $1,322,000 after purchasing an additional 8,436 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Movado Group by 11.4% in the first quarter. Jane Street Group LLC now owns 104,188 shares of the company’s stock valued at $1,742,000 after purchasing an additional 10,670 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Movado Group by 5.5% in the first quarter. Empowered Funds LLC now owns 108,377 shares of the company’s stock valued at $1,812,000 after purchasing an additional 5,697 shares in the last quarter. Coppell Advisory Solutions LLC increased its holdings in shares of Movado Group by 14,191.7% in the first quarter. Coppell Advisory Solutions LLC now owns 1,715 shares of the company’s stock valued at $29,000 after purchasing an additional 1,703 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Movado Group by 212.8% in the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock valued at $11,226,000 after purchasing an additional 456,727 shares in the last quarter. Institutional investors and hedge funds 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.