Movado Group (NYSE:MOV) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Movado Group Inc. (NYSE:MOV)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.18 and traded as high as $27.76. Movado Group shares last traded at $26.57, with a volume of 155,675 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. BWS Financial reiterated a “buy” rating and issued a $31.50 price target on shares of Movado Group in a report on Friday, March 20th. Wall Street Zen upgraded shares of Movado Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Finally, Zacks Research upgraded shares of Movado Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.75.

Movado Group Trading Down 1.5%

The stock has a market cap of $586.67 million, a P/E ratio of 22.91 and a beta of 0.86. The stock’s fifty day moving average price is $25.80 and its 200 day moving average price is $23.18.

Movado Group (NYSE:MOV) last announced its earnings results on Thursday, March 19th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Movado Group had a net margin of 3.96% and a return on equity of 6.09%. The firm had revenue of $191.58 million for the quarter, compared to analysts’ expectations of $182.02 million. As a group, sell-side analysts forecast that Movado Group Inc. will post 1.53 earnings per share for the current year.

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 $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Thursday, April 2nd. Movado Group’s payout ratio is currently 120.69%.

Hedge Funds Weigh In On Movado Group

Several large investors have recently modified their holdings of MOV. Royal Bank of Canada raised its position in shares of Movado Group by 4.1% in the 1st quarter. Royal Bank of Canada now owns 26,524 shares of the company’s stock worth $444,000 after purchasing an additional 1,042 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Movado Group by 26.5% in the 1st quarter. AQR Capital Management LLC now owns 129,746 shares of the company’s stock worth $2,169,000 after purchasing an additional 27,182 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Movado Group by 212.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock worth $11,226,000 after purchasing an additional 456,727 shares during the last quarter. Empowered Funds LLC raised its position in shares of Movado Group by 5.5% in the 1st quarter. Empowered Funds LLC now owns 108,377 shares of the company’s stock worth $1,812,000 after purchasing an additional 5,697 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of Movado Group by 11.4% in the 1st quarter. Jane Street Group LLC now owns 104,188 shares of the company’s stock worth $1,742,000 after purchasing an additional 10,670 shares during the last quarter. Hedge funds and other 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.