Movado Group (NYSE:MOV) Issues Earnings Results

Movado Group (NYSE:MOV) posted its quarterly earnings data on Wednesday. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26, FiscalAI reports. Movado Group had a net margin of 3.96% and a return on equity of 6.09%. The company had revenue of $142.40 million during the quarter, compared to analysts’ expectations of $135.12 million.

Movado Group Stock Performance

Shares of MOV stock opened at $29.53 on Wednesday. Movado Group has a one year low of $14.70 and a one year high of $29.82. The company’s 50-day simple moving average is $26.33 and its 200-day simple moving average is $23.59. The stock has a market capitalization of $651.96 million, a price-to-earnings ratio of 25.46 and a beta of 0.86.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $1.40 annualized dividend and a dividend yield of 4.7%. Movado Group’s dividend payout ratio (DPR) is presently 120.69%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of Movado Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. BWS Financial reaffirmed a “buy” rating and set a $31.50 price target on shares of Movado Group in a research report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Movado Group presently has an average rating of “Moderate Buy” and an average price target of $30.75.

Hedge Funds Weigh In On Movado Group

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in Movado Group by 39.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock worth $33,000 after acquiring an additional 449 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Movado Group by 70.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock worth $36,000 after acquiring an additional 724 shares during the period. Comerica Bank raised its stake in Movado Group by 99.0% during the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after acquiring an additional 888 shares during the period. State of Wyoming acquired a new stake in Movado Group during the second quarter worth about $40,000. Finally, Arete Wealth Advisors LLC acquired a new stake in Movado Group during the fourth quarter worth about $205,000. Institutional investors own 72.08% of the company’s stock.

Movado Group Company Profile

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.