Movado Group (NYSE:MOV) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Movado Group (NYSE:MOV) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other analysts have also commented on MOV. BWS Financial reaffirmed a “buy” rating and issued a $45.00 price target on shares of Movado Group in a research note on Tuesday, September 1st. Zacks Research downgraded shares of Movado Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 2nd. Finally, Weiss Ratings lowered shares of Movado Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Movado Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Movado Group Price Performance

NYSE MOV opened at $32.00 on Friday. Movado Group has a 1 year low of $17.83 and a 1 year high of $40.50. The stock has a market capitalization of $713.83 million, a PE ratio of 17.78 and a beta of 0.90. The business’s 50-day moving average is $32.67 and its 200 day moving average is $31.13.

Movado Group (NYSE:MOV) last released its quarterly earnings results on Wednesday, August 26th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.19. Movado Group had a return on equity of 8.49% and a net margin of 6.00%. The business had revenue of $169.75 million during the quarter, compared to analyst estimates of $164.20 million. As a group, equities research analysts anticipate that Movado Group will post 1.94 earnings per share for the current year.

Movado Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.0%. Movado Group’s dividend payout ratio is 88.89%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MOV. BlackRock Inc. bought a new stake in shares of Movado Group during the second quarter valued at approximately $52,824,000. Bank of New York Mellon Corp bought a new position in Movado Group in the second quarter worth $6,664,000. Empowered Funds LLC bought a new position in Movado Group in the second quarter worth $4,063,000. Renaissance Technologies LLC raised its holdings in Movado Group by 125.6% in the first quarter. Renaissance Technologies LLC now owns 139,198 shares of the company’s stock worth $3,399,000 after purchasing an additional 77,500 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in Movado Group by 120.8% during the first quarter. Lazard Asset Management LLC now owns 124,643 shares of the company’s stock valued at $3,044,000 after buying an additional 68,201 shares during the period. Institutional investors own 72.08% of the company’s stock.

Movado Group Company Profile

Movado Group, Inc is a designer, manufacturer, and distributor of watches and related accessories. The company’s portfolio includes its Movado brand, known for minimalist designs and the Museum dial, as well as a range of licensed and owned brands that have included Ebel, Concord, MVMT, Olivia Burton, and fashion-label watch collections.

Movado Group sells watches, jewelry, and accessories through department and specialty stores, authorized retailers, company-operated stores, e-commerce platforms, and other distribution channels.