Movado Group (NYSE:MOV) Trading Down 5.4% – Should You Sell?

Movado Group Inc. (NYSE:MOV) traded down 5.4% during trading on Thursday . The company traded as low as $23.44 and last traded at $23.2950. 54,798 shares changed hands during trading, a decline of 63% from the average session volume of 149,088 shares. The stock had previously closed at $24.62.

Wall Street Analysts Forecast Growth

MOV has been the topic of a number of research reports. Northland Securities assumed coverage on Movado Group in a report on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 target price on the stock. BWS Financial reiterated a “buy” rating and issued a $31.50 price objective on shares of Movado Group in a research note on Friday, March 20th. Zacks Research upgraded shares of Movado Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Movado Group in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Movado Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. One 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

Movado Group Trading Down 4.4%

The firm has a market capitalization of $519.85 million, a price-to-earnings ratio of 20.23 and a beta of 0.93. The company has a fifty day moving average price of $24.10 and a 200-day moving average price of $21.39.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Thursday, March 19th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $191.58 million during the quarter, compared to analysts’ expectations of $182.02 million. Movado Group had a net margin of 3.96% and a return on equity of 6.09%. As a group, sell-side analysts predict that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Thursday, April 2nd. Movado Group’s dividend payout ratio is currently 120.69%.

Hedge Funds Weigh In On Movado Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in Movado Group by 39.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock valued at $33,000 after acquiring an additional 449 shares in the last quarter. Comerica Bank raised its stake in shares of Movado Group by 99.0% in the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock valued at $34,000 after purchasing an additional 888 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Movado Group by 70.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock worth $36,000 after purchasing an additional 724 shares during the period. State of Wyoming bought a new position in Movado Group in the second quarter worth $40,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in Movado Group during the fourth quarter worth $42,000. 72.08% of the stock is currently 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.