Movado Group (NYSE:MOV – Get Rating) issued its earnings results on Thursday. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.36, MarketWatch Earnings reports. Movado Group had a return on equity of 20.78% and a net margin of 12.51%. During the same period last year, the business earned $0.43 earnings per share. Movado Group updated its FY 2023 guidance to EPS.
Shares of MOV stock traded down $0.06 during trading hours on Friday, hitting $36.55. 5,128 shares of the company’s stock were exchanged, compared to its average volume of 178,442. The stock’s 50-day moving average is $36.63 and its 200-day moving average is $38.30. The stock has a market cap of $832.02 million, a price-to-earnings ratio of 9.44 and a beta of 1.15. Movado Group has a 52 week low of $27.69 and a 52 week high of $48.66.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 22nd. Stockholders of record on Wednesday, June 8th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Tuesday, June 7th. Movado Group’s payout ratio is presently 36.08%.
In other Movado Group news, Director Richard D. Isserman sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $37.86, for a total transaction of $189,300.00. Following the transaction, the director now owns 16,962 shares in the company, valued at $642,181.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ann Kirschner sold 3,800 shares of the firm’s stock in a transaction dated Monday, April 4th. The stock was sold at an average price of $39.41, for a total value of $149,758.00. Following the transaction, the director now owns 13,897 shares in the company, valued at approximately $547,680.77. The disclosure for this sale can be found here. 28.42% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of MOV. Squarepoint Ops LLC acquired a new stake in shares of Movado Group during the fourth quarter worth about $481,000. Deutsche Bank AG raised its position in shares of Movado Group by 4.7% during the fourth quarter. Deutsche Bank AG now owns 11,163 shares of the company’s stock worth $467,000 after purchasing an additional 499 shares during the period. Credit Suisse AG raised its position in Movado Group by 9.4% in the 4th quarter. Credit Suisse AG now owns 10,920 shares of the company’s stock valued at $457,000 after buying an additional 936 shares during the last quarter. Ancora Advisors LLC raised its position in Movado Group by 62.7% in the 1st quarter. Ancora Advisors LLC now owns 15,860 shares of the company’s stock valued at $451,000 after buying an additional 6,110 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in Movado Group by 47.6% in the 1st quarter. MetLife Investment Management LLC now owns 9,762 shares of the company’s stock valued at $381,000 after buying an additional 3,146 shares during the last quarter. Hedge funds and other institutional investors own 65.26% of the company’s stock.
About Movado Group (Get Rating)
Movado Group, Inc designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, Calvin Klein, and Scuderia Ferrari.
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