Movado Group (NYSE:MOV) Hits New 1-Year High – Should You Buy?

Movado Group Inc. (NYSE:MOV) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $39.87 and last traded at $39.6210, with a volume of 30220 shares trading hands. The stock had previously closed at $38.94.

Analyst Ratings Changes

A number of research analysts recently issued reports on MOV shares. Weiss Ratings cut Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 28th. Northland Securities set a $35.00 target price on shares of Movado Group in a research report on Wednesday, May 27th. BWS Financial reiterated a “buy” rating and set a $45.00 target price on shares of Movado Group in a research report on Monday, July 27th. Finally, Zacks Research raised shares of Movado Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $40.00.

Movado Group Stock Down 1.7%

The company has a market cap of $858.33 million, a P/E ratio of 27.77 and a beta of 0.97. The business has a 50-day moving average price of $37.90 and a two-hundred day moving average price of $29.77.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.26. The business had revenue of $142.40 million for the quarter, compared to analysts’ expectations of $135.12 million. Movado Group had a return on equity of 7.13% and a net margin of 4.70%.During the same quarter last year, the business earned $0.06 earnings per share. As a group, sell-side analysts expect that Movado Group Inc. will post 1.87 EPS for the current fiscal year.

Movado Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were paid a $0.40 dividend. This is a boost from Movado Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 4.1%. Movado Group’s payout ratio is 114.29%.

Institutional Investors Weigh In On Movado Group

Several institutional investors have recently modified their holdings of the business. Deprince Race & Zollo Inc. lifted its stake in Movado Group by 27.6% in the fourth quarter. Deprince Race & Zollo Inc. now owns 258,478 shares of the company’s stock valued at $5,330,000 after buying an additional 55,967 shares during the period. Lazard Asset Management LLC grew its position in shares of Movado Group by 120.8% during the 1st quarter. Lazard Asset Management LLC now owns 124,643 shares of the company’s stock worth $3,044,000 after buying an additional 68,201 shares during the period. Strs Ohio grew its position in shares of Movado Group by 671.9% during the 1st quarter. Strs Ohio now owns 24,700 shares of the company’s stock worth $603,000 after buying an additional 21,500 shares during the period. North Star Investment Management Corp. increased its stake in shares of Movado Group by 39.4% in the 1st quarter. North Star Investment Management Corp. now owns 131,025 shares of the company’s stock valued at $3,200,000 after acquiring an additional 37,000 shares during the last quarter. Finally, Ritholtz Wealth Management bought a new stake in shares of Movado Group in the 1st quarter valued at about $797,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

About Movado Group

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.