Movado Group, Inc Forecasted to Earn FY2018 Earnings of $1.42 Per Share (MOV)

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.

Earnings History and Estimates for Movado Group (NYSE:MOV)

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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.

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