Sidoti set a $34.00 target price on Movado Group Inc. (NYSE:MOV) in a report issued on Tuesday morning. The brokerage currently has a buy rating on the stock.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Movado Group from a sell rating to a hold rating in a research report on Wednesday, November 9th. Cowen and Company reaffirmed a market perform rating and issued a $24.00 target price on shares of Movado Group in a research report on Friday, August 26th.
Shares of Movado Group (NYSE:MOV) opened at 29.35 on Tuesday. Movado Group has a 12-month low of $19.14 and a 12-month high of $30.98. The company’s 50-day moving average price is $23.53 and its 200-day moving average price is $22.54. The firm has a market capitalization of $673.58 million, a PE ratio of 17.54 and a beta of 0.36.
Movado Group (NYSE:MOV) last announced its quarterly earnings results on Tuesday, November 22nd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. The firm had revenue of $179.80 million for the quarter, compared to the consensus estimate of $174.32 million. Movado Group had a return on equity of 8.97% and a net margin of 6.67%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. Analysts anticipate that Movado Group will post $1.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, November 30th. Movado Group’s dividend payout ratio (DPR) is currently 32.10%.
Several large investors have recently modified their holdings of MOV. Municipal Employees Retirement System of Michigan boosted 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 during the period. BNP Paribas Arbitrage SA boosted its stake in shares of 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 period. BlackRock Inc. boosted its stake in shares of 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 period. Societe Generale bought a new stake in shares of Movado Group during the second quarter valued at about $154,000. Finally, Van Hulzen Asset Management LLC bought a new stake in shares of Movado Group during the second quarter valued at about $163,000. Institutional investors and hedge funds own 61.53% of the company’s stock.
Movado Group Company Profile