Movado (NYSE:MOV) posted its earnings results on Thursday. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.26, Bloomberg Earnings reports. Movado had a positive return on equity of 9.78% and a negative net margin of 2.68%. The firm had revenue of $149.20 million during the quarter, compared to analysts’ expectations of $132.43 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. Movado updated its FY19 guidance to $2.15-2.25 EPS.
NYSE:MOV traded up $5.20 on Friday, reaching $38.40. The company’s stock had a trading volume of 1,313,713 shares, compared to its average volume of 193,272. Movado has a 1-year low of $20.50 and a 1-year high of $42.25. The company has a current ratio of 4.80, a quick ratio of 3.12 and a debt-to-equity ratio of 0.05. The stock has a market cap of $880.86, a price-to-earnings ratio of 19.20 and a beta of -0.03.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Wednesday, April 11th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.08%. This is a boost from Movado’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 10th. Movado’s payout ratio is presently 26.00%.
In other Movado news, Director Richard Cote sold 1,600 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $33.46, for a total value of $53,536.00. Following the completion of the transaction, the director now directly owns 395,296 shares of the company’s stock, valued at $13,226,604.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 14,000 shares of company stock valued at $449,035. Insiders own 32.98% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Hillsdale Investment Management Inc. bought a new stake in shares of Movado in the third quarter valued at about $101,000. Aperio Group LLC bought a new stake in shares of Movado in the fourth quarter valued at about $204,000. Delta Capital Management LLC bought a new stake in shares of Movado in the fourth quarter valued at about $206,000. Crossmark Global Holdings Inc. bought a new stake in shares of Movado in the fourth quarter valued at about $206,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Movado in the fourth quarter valued at about $216,000. 66.06% of the stock is owned by hedge funds and other institutional investors.
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Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Ebel, Concord, Movado, ESQ Movado, Coach, HUGO BOSS, Juicy Couture, Lacoste, Tommy Hilfiger, and SCUDERIA FERRARI brands.
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