Movado Group (NYSE:MOV) Upgraded at Wall Street Zen

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 morning.

Several other brokerages also recently issued reports on MOV. Zacks Research raised shares of Movado Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Movado Group in a report on Tuesday, November 25th. Finally, BWS Financial reaffirmed a “buy” rating and set a $31.50 price target on shares of Movado Group in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.50.

Movado Group Price Performance

NYSE:MOV opened at $20.94 on Friday. The business’s 50-day moving average is $18.74 and its two-hundred day moving average is $17.45. Movado Group has a 12 month low of $12.85 and a 12 month high of $22.20. The firm has a market capitalization of $463.57 million, a PE ratio of 27.20 and a beta of 1.25.

Movado Group (NYSE:MOV) last issued its earnings results 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 return on equity of 5.45% and a net margin of 2.66%.The company had revenue of $186.13 million during the quarter, compared to analysts’ expectations of $185.89 million. During the same period in the previous year, the company earned $0.22 EPS. Equities analysts anticipate that Movado Group will post 1.05 EPS for the current year.

Movado Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Monday, December 8th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $1.40 annualized dividend and a dividend yield of 6.7%. Movado Group’s payout ratio is presently 144.33%.

Hedge Funds Weigh In On Movado Group

A number of hedge funds have recently bought and sold shares of MOV. Vanguard Group Inc. raised its stake in Movado Group by 5.9% during the third quarter. Vanguard Group Inc. now owns 1,029,220 shares of the company’s stock valued at $19,524,000 after buying an additional 57,353 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Movado Group by 212.8% during the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock worth $11,226,000 after acquiring an additional 456,727 shares during the period. Ameriprise Financial Inc. lifted its holdings in Movado Group by 14.4% in the second quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock worth $9,712,000 after acquiring an additional 80,109 shares during the last quarter. American Century Companies Inc. boosted its stake in Movado Group by 5.8% in the first quarter. American Century Companies Inc. now owns 433,322 shares of the company’s stock valued at $7,245,000 after acquiring an additional 23,737 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Movado Group by 0.3% during the second quarter. Geode Capital Management LLC now owns 374,858 shares of the company’s stock valued at $5,718,000 after purchasing an additional 1,131 shares during the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

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.