Movado Group (NYSE:MOV) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Movado Group (NYSE:MOV) from a strong-buy rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other equities analysts have also commented on the company. Zacks Research raised Movado Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Movado Group in a research note on Tuesday, August 25th. Northland Securities set a $35.00 price objective on Movado Group in a report on Wednesday, May 27th. Finally, BWS Financial reiterated a “buy” rating and set a $45.00 target price on shares of Movado Group in a research report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.00.

Movado Group Stock Down 1.9%

Shares of MOV stock opened at $33.83 on Friday. The stock has a market cap of $746.97 million, a P/E ratio of 18.79 and a beta of 0.97. Movado Group has a 52 week low of $17.24 and a 52 week high of $40.50. The company’s fifty day simple moving average is $37.23 and its two-hundred day simple moving average is $31.34.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Wednesday, August 26th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.19. The firm had revenue of $169.75 million during the quarter, compared to analyst estimates of $164.20 million. Movado Group had a return on equity of 8.49% and a net margin of 6.00%. On average, analysts anticipate that Movado Group will post 1.89 EPS for the current fiscal year.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 8th. Movado Group’s payout ratio is presently 88.89%.

Institutional Investors Weigh In On Movado Group

Several institutional investors have recently modified their holdings of MOV. California State Teachers Retirement System boosted its holdings in shares of Movado Group by 906.6% in the 2nd quarter. California State Teachers Retirement System now owns 8,294 shares of the company’s stock worth $326,000 after purchasing an additional 7,470 shares during the period. BTG Pactual Asset Management US LLC purchased a new stake in Movado Group during the 2nd quarter valued at $264,000. Hsbc Holdings PLC raised its holdings in Movado Group by 87.4% during the 2nd quarter. Hsbc Holdings PLC now owns 16,759 shares of the company’s stock valued at $657,000 after buying an additional 7,814 shares during the period. Empowered Funds LLC purchased a new stake in Movado Group during the 2nd quarter valued at $4,063,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Movado Group in the second quarter worth $1,032,000. 72.08% of the stock is owned by institutional investors.

About Movado Group

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.