Movado Group, Inc (NYSE:MOV) announced its earnings results on Monday. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.01. The firm earned $130.80 million during the quarter, compared to analyst estimates of $137.11 million. Movado Group had a net margin of 6.67% and a return on equity of 8.97%. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. Movado Group updated its FY18 guidance to $1.40-1.55 EPS.
Shares of Movado Group (NYSE:MOV) opened at 25.00 on Tuesday. The firm’s 50-day moving average price is $24.83 and its 200-day moving average price is $25.02. The firm has a market capitalization of $573.30 million, a PE ratio of 15.38 and a beta of 0.47. Movado Group has a 52-week low of $19.14 and a 52-week high of $31.95.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.08%. Movado Group’s payout ratio is 32.10%.
Hedge funds have recently made changes to their positions in the stock. Contrarius Investment Management Ltd raised its stake in shares of Movado Group by 7.6% in the third quarter. Contrarius Investment Management Ltd now owns 175,609 shares of the company’s stock valued at $3,772,000 after buying an additional 12,458 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Movado Group by 187.8% in the third quarter. Schroder Investment Management Group now owns 62,530 shares of the company’s stock valued at $1,343,000 after buying an additional 40,800 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Movado Group by 58.3% in the third quarter. SG Americas Securities LLC now owns 11,275 shares of the company’s stock valued at $242,000 after buying an additional 4,154 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Movado Group by 1.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,720 shares of the company’s stock valued at $123,000 after buying an additional 60 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of Movado Group by 20.5% in the third quarter. LSV Asset Management now owns 227,172 shares of the company’s stock valued at $4,879,000 after buying an additional 38,597 shares in the last quarter. 63.35% of the stock is owned by hedge funds and other institutional investors.
Your IP Address:
A number of analysts recently issued reports on MOV shares. Sidoti cut Movado Group from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Wednesday, December 21st. TheStreet cut Movado Group from a “b-” rating to a “c+” rating in a research report on Friday, March 10th. Zacks Investment Research cut Movado Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 24th. Finally, Cowen and Company decreased their price objective on Movado Group to $25.00 in a research report on Monday. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Movado Group currently has an average rating of “Hold” and a consensus target price of $31.00.
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, department stores and independent jewelers.
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2024263/movado-group-inc-mov-releases-earnings-results-misses-expectations-by-0-01-eps.html
Receive News & Ratings for Movado Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Movado Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.