Movado Group, Inc (NYSE:MOV) – Stock analysts at KeyCorp dropped their FY2018 EPS estimates for shares of Movado Group in a note issued to investors on Monday, according to Zacks Investment Research. KeyCorp analyst E. Yruma now expects that the company will post earnings of $1.42 per share for the year, down from their previous estimate of $1.69.
Several other analysts have also commented on the stock. TheStreet lowered shares of Movado Group from a “b-” rating to a “c+” rating in a research note on Friday, March 10th. Cowen and Company cut their target price on shares of Movado Group from $27.00 to $25.00 and set a “market perform” rating for the company in a research note on Monday, March 20th. Sidoti raised shares of Movado Group from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Monday, January 30th. Finally, Zacks Investment Research lowered shares of Movado Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 24th.
Shares of Movado Group (NYSE:MOV) traded down 2.26% during midday trading on Thursday, reaching $23.75. 96,666 shares of the company were exchanged. The company’s 50-day moving average price is $23.53 and its 200 day moving average price is $25.37. Movado Group has a 52-week low of $19.14 and a 52-week high of $31.95. The stock has a market capitalization of $545.09 million, a price-to-earnings ratio of 15.73 and a beta of 0.47.
Movado Group (NYSE:MOV) last released its quarterly earnings results on Monday, March 20th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.01. Movado Group had a return on equity of 8.97% and a net margin of 6.67%. The company had revenue of $130.80 million for the quarter, compared to analysts’ expectations of $137.11 million. During the same period in the prior year, the business earned $0.40 EPS. The business’s quarterly revenue was down 8.7% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 29th. This represents a $0.52 annualized dividend and a dividend yield of 2.19%. Movado Group’s dividend payout ratio (DPR) is presently 32.10%.
Several large investors have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan increased its stake in shares of Movado Group by 1.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,720 shares of the company’s stock valued at $123,000 after buying an additional 60 shares during the period. Bank of Montreal Can increased its stake in shares of Movado Group by 3.6% in the first quarter. Bank of Montreal Can now owns 7,732 shares of the company’s stock valued at $193,000 after buying an additional 268 shares during the period. Thrivent Financial for Lutherans purchased a new stake in shares of Movado Group during the fourth quarter valued at approximately $237,000. Hudson Bay Capital Management LP purchased a new stake in shares of Movado Group during the third quarter valued at approximately $215,000. Finally, Matarin Capital Management LLC purchased a new stake in shares of Movado Group during the third quarter valued at approximately $236,000. Institutional investors and hedge funds own 63.35% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Movado Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Movado Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.