Wall Street brokerages expect Movado Group, Inc (NYSE:MOV) to announce earnings per share of $1.03 for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Movado Group’s earnings. Movado Group posted earnings per share of $1.18 in the same quarter last year, which indicates a negative year-over-year growth rate of 12.7%. The business is scheduled to issue its next quarterly earnings report on Tuesday, December 3rd.
According to Zacks, analysts expect that Movado Group will report full-year earnings of $2.27 per share for the current fiscal year. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Movado Group.
Movado Group (NYSE:MOV) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.13). The business had revenue of $157.80 million during the quarter, compared to analysts’ expectations of $167.00 million. Movado Group had a return on equity of 11.74% and a net margin of 9.23%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share.
Several brokerages recently weighed in on MOV. Cowen lowered Movado Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $40.00 to $22.00 in a research report on Thursday, August 29th. Zacks Investment Research lowered Movado Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 5th.
In other news, Director Maurice S. Reznik purchased 3,002 shares of the stock in a transaction dated Friday, August 30th. The stock was acquired at an average cost of $21.25 per share, for a total transaction of $63,792.50. Following the completion of the transaction, the director now directly owns 35,732 shares in the company, valued at approximately $759,305. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 29.92% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FTB Advisors Inc. purchased a new position in shares of Movado Group during the second quarter worth $26,000. Tower Research Capital LLC TRC boosted its position in shares of Movado Group by 97.9% during the third quarter. Tower Research Capital LLC TRC now owns 1,811 shares of the company’s stock worth $45,000 after buying an additional 896 shares during the period. Quantamental Technologies LLC purchased a new position in shares of Movado Group during the second quarter worth $48,000. Advisor Group Inc. boosted its position in shares of Movado Group by 390.6% during the second quarter. Advisor Group Inc. now owns 3,248 shares of the company’s stock worth $88,000 after buying an additional 2,586 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Movado Group by 127.8% during the third quarter. Russell Investments Group Ltd. now owns 3,715 shares of the company’s stock worth $92,000 after buying an additional 2,084 shares during the period. Institutional investors and hedge funds own 70.12% of the company’s stock.
Movado Group stock traded down $0.34 during mid-day trading on Tuesday, hitting $26.05. The company’s stock had a trading volume of 134,876 shares, compared to its average volume of 206,570. The firm has a market capitalization of $657.74 million, a PE ratio of 9.76 and a beta of 0.53. Movado Group has a 1 year low of $18.78 and a 1 year high of $44.39. The company has a current ratio of 3.64, a quick ratio of 2.05 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average is $25.11 and its two-hundred day moving average is $26.95.
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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