Movado Group Inc. (NYSE:MOV) – Investment analysts at KeyCorp lowered their Q3 2018 earnings estimates for shares of Movado Group in a research note issued on Tuesday. KeyCorp analyst E. Yruma now forecasts that the company will earn $0.86 per share for the quarter, down from their previous estimate of $0.88. KeyCorp also issued estimates for Movado Group’s FY2018 earnings at $1.63 EPS and FY2019 earnings at $1.75 EPS.
Other research analysts have also recently issued research reports about the stock. ValuEngine raised shares of Movado Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of Movado Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, BidaskClub cut shares of Movado Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Movado Group presently has an average rating of “Buy” and a consensus target price of $30.33.
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Movado Group (NYSE:MOV) opened at 27.40 on Friday. The company has a market cap of $625.84 million, a price-to-earnings ratio of 23.64 and a beta of 0.20. Movado Group has a 52 week low of $20.50 and a 52 week high of $31.95. The stock has a 50 day moving average price of $24.52 and a 200 day moving average price of $23.76.
Movado Group (NYSE:MOV) last issued its quarterly earnings results on Tuesday, August 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.18. Movado Group had a return on equity of 7.74% and a net margin of 4.97%. The company had revenue of $128.80 million for the quarter, compared to analyst estimates of $122 million. During the same quarter last year, the company posted $0.27 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Monday, September 11th will be issued a $0.13 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.52 annualized dividend and a dividend yield of 1.90%. Movado Group’s payout ratio is currently 45.22%.
Movado Group declared that its board has approved a share buyback plan on Tuesday, August 29th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MOV. PNC Financial Services Group Inc. boosted its position in Movado Group by 1.0% in the first quarter. PNC Financial Services Group Inc. now owns 4,777 shares of the company’s stock valued at $119,000 after buying an additional 47 shares during the last quarter. QS Investors LLC boosted its position in Movado Group by 0.5% in the second quarter. QS Investors LLC now owns 5,748 shares of the company’s stock valued at $145,000 after buying an additional 27 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in Movado Group during the first quarter valued at $161,000. BNP Paribas Arbitrage SA boosted its position in Movado Group by 13.3% in the second quarter. BNP Paribas Arbitrage SA now owns 6,617 shares of the company’s stock valued at $167,000 after buying an additional 776 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Movado Group by 3.6% in the first quarter. Bank of Montreal Can now owns 7,732 shares of the company’s stock valued at $193,000 after buying an additional 268 shares during the last quarter. 64.33% of the stock is currently owned by hedge funds and other institutional investors.
Movado Group Company Profile
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.
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