Movado Group (NYSE:MOV) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Movado Group Inc. (NYSE:MOV)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $21.33 and traded as high as $24.57. Movado Group shares last traded at $24.2750, with a volume of 157,190 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Movado Group in a research note on Monday, December 29th. Northland Securities assumed coverage on Movado Group in a report on Wednesday, January 7th. They set an “outperform” rating and a $30.00 price target for the company. BWS Financial reissued a “buy” rating and issued a $31.50 price target on shares of Movado Group in a research note on Friday, March 20th. Wall Street Zen upgraded Movado Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Finally, Zacks Research raised shares of Movado Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Movado Group has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

Movado Group Price Performance

The company has a fifty day simple moving average of $24.10 and a two-hundred day simple moving average of $21.39. The company has a market capitalization of $546.04 million, a P/E ratio of 21.32 and a beta of 0.85.

Movado Group (NYSE:MOV) last released its quarterly earnings results on Thursday, March 19th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.05. The company had revenue of $191.58 million during the quarter, compared to the consensus estimate of $182.02 million. Movado Group had a return on equity of 6.09% and a net margin of 3.96%. Equities analysts anticipate that Movado Group Inc. will post 1.05 earnings per share for the current year.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.7%. The ex-dividend date is Thursday, April 2nd. Movado Group’s dividend payout ratio (DPR) is 120.69%.

Institutional Trading of Movado Group

A number of institutional investors and hedge funds have recently modified their holdings of MOV. Royal Bank of Canada lifted its position in shares of Movado Group by 4.1% during the 1st quarter. Royal Bank of Canada now owns 26,524 shares of the company’s stock worth $444,000 after purchasing an additional 1,042 shares during the last quarter. AQR Capital Management LLC increased its position in Movado Group by 26.5% in the 1st quarter. AQR Capital Management LLC now owns 129,746 shares of the company’s stock worth $2,169,000 after buying an additional 27,182 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Movado Group by 212.8% during the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock worth $11,226,000 after buying an additional 456,727 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Movado Group by 5.5% during the first quarter. Empowered Funds LLC now owns 108,377 shares of the company’s stock worth $1,812,000 after buying an additional 5,697 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Movado Group by 11.4% in the first quarter. Jane Street Group LLC now owns 104,188 shares of the company’s stock valued at $1,742,000 after acquiring an additional 10,670 shares during the period. 72.08% of the stock is currently owned by institutional investors and hedge funds.

Movado Group Company Profile

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.