Movado Group (NYSE:MOV) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Movado Group (NYSE:MOV) from a hold rating to a buy rating in a research report released on Friday.

Several other equities research analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Movado Group in a research report on Tuesday. Zacks Research upgraded Movado Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, BWS Financial reaffirmed a “buy” rating and set a $31.50 target price on shares of Movado Group in a research report on Wednesday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $31.50.

Movado Group Trading Down 1.7%

MOV opened at $20.94 on Friday. Movado Group has a 12-month low of $12.85 and a 12-month high of $22.20. The business’s fifty day simple moving average is $18.74 and its 200-day simple moving average is $17.45. The company has a market capitalization of $463.57 million, a price-to-earnings ratio of 27.20 and a beta of 1.25.

Movado Group (NYSE:MOV) last released its quarterly earnings data on Tuesday, November 25th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.12). Movado Group had a net margin of 2.66% and a return on equity of 5.45%. The firm had revenue of $186.13 million during the quarter, compared to the consensus estimate of $185.89 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. On average, equities research analysts predict that Movado Group will post 1.05 EPS for the current year.

Movado Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Monday, December 8th. Movado Group’s dividend payout ratio is currently 144.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd boosted its holdings in Movado Group by 413.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 74,139 shares of the company’s stock worth $1,240,000 after acquiring an additional 59,707 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Movado Group by 14.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 186,468 shares of the company’s stock valued at $3,118,000 after acquiring an additional 23,095 shares in the last quarter. American Century Companies Inc. raised its position in shares of Movado Group by 5.8% in the 1st quarter. American Century Companies Inc. now owns 433,322 shares of the company’s stock valued at $7,245,000 after purchasing an additional 23,737 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Movado Group by 293.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 97,842 shares of the company’s stock worth $1,636,000 after purchasing an additional 72,970 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Movado Group in the 1st quarter worth approximately $701,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

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.