Movado Group Inc. (NYSE:MOV) – Equities researchers at KeyCorp lowered their Q4 2017 EPS estimates for Movado Group in a research note issued to investors on Tuesday. KeyCorp analyst E. Yruma now expects that the brokerage will earn $0.18 per share for the quarter, down from their previous estimate of $0.24. KeyCorp also issued estimates for Movado Group’s Q4 2018 earnings at $0.22 EPS.
Movado Group (NYSE:MOV) last announced its earnings results on Tuesday, November 22nd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.72 by $0.19. Movado Group had a net margin of 6.67% and a return on equity of 9.05%. The company earned $179.80 million during the quarter, compared to analysts’ expectations of $174.32 million. During the same period last year, the company posted $0.92 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis.
Several other analysts have also recently weighed in on MOV. Zacks Investment Research raised Movado Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Cowen and Company reissued a “market perform” rating and set a $24.00 price objective on shares of Movado Group in a report on Friday, August 26th. Finally, Sidoti set a $34.00 price objective on Movado Group and gave the stock a “buy” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.00.
Movado Group (NYSE:MOV) opened at 28.40 on Thursday. The firm has a market capitalization of $651.78 million, a PE ratio of 16.98 and a beta of 0.36. Movado Group has a one year low of $19.14 and a one year high of $30.98. The firm has a 50 day moving average of $23.29 and a 200 day moving average of $22.53.
Several institutional investors have recently bought and sold shares of MOV. Municipal Employees Retirement System of Michigan raised its position in 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 during the last quarter. BNP Paribas Arbitrage SA raised its position in Movado Group by 85.2% in the second quarter. BNP Paribas Arbitrage SA now owns 5,923 shares of the company’s stock valued at $128,000 after buying an additional 2,725 shares during the last quarter. BlackRock Inc. raised its position in Movado Group by 557.1% in the second quarter. BlackRock Inc. now owns 6,407 shares of the company’s stock valued at $139,000 after buying an additional 5,432 shares during the last quarter. Societe Generale bought a new position in Movado Group during the second quarter valued at about $154,000. Finally, BlackRock Advisors LLC raised its position in Movado Group by 1.0% in the second quarter. BlackRock Advisors LLC now owns 7,536 shares of the company’s stock valued at $163,000 after buying an additional 78 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.83%. Movado Group’s payout ratio is currently 32.10%.
About Movado Group