Movado Group (NYSE:MOV) Issues Earnings Results, Beats Expectations By $0.26 EPS

Movado Group (NYSE:MOV – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.32 earnings per share for the quarter, topping 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 firm had revenue of $142.40 million during the quarter, compared to analysts’ expectations of $135.12 million.

Movado Group Price Performance

NYSE:MOV opened at $29.53 on Wednesday. The firm has a 50-day moving average of $26.33 and a two-hundred day moving average of $23.59. The stock has a market cap of $651.96 million, a P/E ratio of 25.46 and a beta of 0.86. Movado Group has a 1-year low of $14.70 and a 1-year high of $29.82.

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Movado Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Thursday, April 2nd. Movado Group’s dividend payout ratio is presently 120.69%.

Hedge Funds Weigh In On Movado Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOV. Goldman Sachs Group Inc. boosted its position in Movado Group by 212.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock valued at $11,226,000 after buying an additional 456,727 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Movado Group by 153.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 161,178 shares of the company’s stock valued at $2,458,000 after buying an additional 97,566 shares during the last quarter. AQR Capital Management LLC boosted its position in Movado Group by 94.1% in the 4th quarter. AQR Capital Management LLC now owns 186,862 shares of the company’s stock valued at $3,853,000 after buying an additional 90,578 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Movado Group by 14.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock valued at $9,712,000 after buying an additional 80,109 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Movado Group by 45.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 255,699 shares of the company’s stock valued at $4,851,000 after buying an additional 79,684 shares during the last quarter. 72.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MOV. 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 investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

Read Our Latest Stock Report on Movado Group

Movado Group Company Profile

(Get Free Report)

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.

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