According to Zacks, “Movado Group, Inc. is one of the world’s premier watchmakers. Movado Group designs, manufactures and distributes watches from ten of the most recognized and respected names in time: Movado, Concord, EBEL and ESQ Movado along with their Coach, HUGO BOSS, Juicy Couture, Lacoste, Tommy Hilfiger and Scuderia Ferrari licensed watch brands. From their Swiss luxury timepieces to our accessible fashion watches, each of their brands is recognized for its inherent quality and distinctive image within its price category. Collectively, their timepieces are sold throughout North and South America, Europe, Asia and the Far East. Between their manufacturing facilities in Switzerland, corporate headquarters in Paramus, New Jersey, USA and Bienne, Switzerland and their sales and distribution offices around the world, Movado Group. “
Separately, TheStreet downgraded shares of Worthington Industries from a “b-” rating to a “c+” rating in a report on Monday, June 10th.
Movado Group (NYSE:MOV) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). Movado Group had a return on equity of 12.43% and a net margin of 8.22%. The company had revenue of $146.55 million for the quarter, compared to the consensus estimate of $148.70 million. During the same period in the prior year, the firm posted $0.37 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts predict that Movado Group will post 2.75 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of MOV. NumerixS Investment Technologies Inc raised its position in Movado Group by 54.5% in the 1st quarter. NumerixS Investment Technologies Inc now owns 3,400 shares of the company’s stock worth $136,000 after purchasing an additional 1,200 shares during the period. Municipal Employees Retirement System of Michigan purchased a new position in Movado Group in the 4th quarter worth $149,000. Group One Trading L.P. raised its position in Movado Group by 1,741.9% in the 1st quarter. Group One Trading L.P. now owns 4,568 shares of the company’s stock worth $166,000 after purchasing an additional 4,320 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Movado Group by 385.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,763 shares of the company’s stock worth $182,000 after purchasing an additional 4,576 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in Movado Group by 51.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,624 shares of the company’s stock worth $205,000 after purchasing an additional 1,901 shares during the period. 71.12% of the stock is owned by institutional investors.
About Movado Group
Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.
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