Wall Street brokerages expect that Movado Group, Inc (NYSE:MOV) will report earnings per share of $0.49 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Movado Group’s earnings. Movado Group posted earnings per share of $0.45 in the same quarter last year, which suggests a positive year over year growth rate of 8.9%. The firm is scheduled to report its next quarterly earnings report on Wednesday, September 4th.
According to Zacks, analysts expect that Movado Group will report full year earnings of $2.75 per share for the current year. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Movado Group.
Movado Group (NYSE:MOV) last released its earnings results on Thursday, May 30th. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.06). The firm had revenue of $146.55 million during the quarter, compared to analyst estimates of $148.70 million. Movado Group had a net margin of 8.22% and a return on equity of 12.43%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the business posted $0.37 earnings per share.
MOV has been the subject of a number of research analyst reports. TheStreet cut Worthington Industries from a “b-” rating to a “c+” rating in a research note on Monday, June 10th. Zacks Investment Research raised Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in Movado Group by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,389,807 shares of the company’s stock valued at $43,945,000 after buying an additional 27,091 shares during the period. Janus Henderson Group PLC grew its position in Movado Group by 20.5% during the first quarter. Janus Henderson Group PLC now owns 677,628 shares of the company’s stock worth $24,652,000 after buying an additional 115,305 shares in the last quarter. Tributary Capital Management LLC bought a new stake in Movado Group during the second quarter worth $13,221,000. Bank of New York Mellon Corp lifted its stake in Movado Group by 6.2% during the fourth quarter. Bank of New York Mellon Corp now owns 290,411 shares of the company’s stock worth $9,183,000 after purchasing an additional 16,883 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its stake in Movado Group by 109.1% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 230,000 shares of the company’s stock worth $8,367,000 after purchasing an additional 120,000 shares during the last quarter. Institutional investors and hedge funds own 71.12% of the company’s stock.
Shares of Movado Group stock traded up $0.09 during trading on Friday, reaching $25.86. 3,640 shares of the company were exchanged, compared to its average volume of 140,911. The company has a quick ratio of 2.40, a current ratio of 3.99 and a debt-to-equity ratio of 0.26. Movado Group has a twelve month low of $24.48 and a twelve month high of $52.10. The business’s 50-day simple moving average is $26.46. The stock has a market cap of $594.00 million, a price-to-earnings ratio of 9.67 and a beta of 0.44.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 11th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 3.09%. Movado Group’s payout ratio is presently 29.96%.
Movado Group Company Profile
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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