Movado Group, Inc (MOV) Shares Up 5.9% Following Dividend Announcement

Movado Group, Inc (NYSE:MOV) traded up 5.9% during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $25.20 and last traded at $25.00, with a volume of 725,137 shares traded. The stock had previously closed at $23.60.

The newly announced dividend which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.08%. Movado Group’s dividend payout ratio is presently 32.10%.

Several analysts have recently commented on the company. Cowen and Company reduced their target price on Movado Group to $25.00 in a research note on Monday. Sidoti downgraded Movado Group from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research note on Wednesday, December 21st. TheStreet downgraded Movado Group from a “b-” rating to a “c+” rating in a research note on Friday, March 10th. Finally, Zacks Investment Research upgraded Movado Group from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a research note on Tuesday, November 29th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Movado Group currently has a consensus rating of “Hold” and a consensus price target of $31.00.

The company has a market capitalization of $573.30 million, a price-to-earnings ratio of 15.38 and a beta of 0.47. The stock’s 50-day moving average price is $24.83 and its 200-day moving average price is $25.02.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Monday, March 20th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by $0.01. The firm had revenue of $130.80 million for the quarter, compared to the consensus estimate of $137.11 million. Movado Group had a net margin of 6.67% and a return on equity of 8.97%. The business’s revenue was down 8.7% on a year-over-year basis. During the same period last year, the company posted $0.40 earnings per share. Analysts expect that Movado Group, Inc will post $1.60 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the stock. Foundry Partners LLC increased its position in shares of Movado Group by 53.3% in the third quarter. Foundry Partners LLC now owns 159,523 shares of the company’s stock valued at $3,427,000 after buying an additional 55,431 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Movado Group by 6.4% in the third quarter. Nisa Investment Advisors LLC now owns 16,700 shares of the company’s stock valued at $359,000 after buying an additional 1,000 shares during the period. California Public Employees Retirement System increased its position in shares of Movado Group by 9.9% in the third quarter. California Public Employees Retirement System now owns 54,300 shares of the company’s stock valued at $1,166,000 after buying an additional 4,900 shares during the period. Virginia Retirement Systems ET AL purchased a new position in shares of Movado Group during the third quarter valued at approximately $763,000. Finally, Smith Asset Management Group LP increased its position in shares of Movado Group by 2.0% in the third quarter. Smith Asset Management Group LP now owns 12,490 shares of the company’s stock valued at $268,000 after buying an additional 250 shares during the period. 63.35% of the stock is owned by hedge funds and other institutional investors.

var userip;Your IP Address: document.write(userip);

About Movado Group

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.

5 Day Chart for NYSE:MOV

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.

Latest News

Teen Girls Barred from United Airlines Flight for Wearing Leggings
Teen Girls Barred from United Airlines Flight for Wearing Leggings
Fuel Shortage in Venezuela Growing Worse
Fuel Shortage in Venezuela Growing Worse
FedEx Comes Up Short on Earnings
FedEx Comes Up Short on Earnings
Brazil Looks to Calm Fears Over Export and Sale of Meat
Brazil Looks to Calm Fears Over Export and Sale of Meat
Dollar General Increasing Pay, Lowering Price and Adding Perishable Goods
Dollar General Increasing Pay, Lowering Price and Adding Perishable Goods
Euronet Worldwide Tops Offer by Ant to Acquire MoneyGram
Euronet Worldwide Tops Offer by Ant to Acquire MoneyGram


Leave a Reply

© 2006-2017 Ticker Report. Google+.