Movado Group’s (MOV) Buy Rating Reaffirmed at BWS Financial

BWS Financial reaffirmed their buy rating on shares of Movado Group (NYSE:MOV) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $31.50 target price on the stock.

Separately, Wall Street Zen downgraded shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 30th.

Movado Group Stock Performance

Shares of NYSE MOV opened at $16.30 on Monday. The company has a market capitalization of $362.46 million, a P/E ratio of 15.67 and a beta of 1.17. Movado Group has a 52-week low of $12.85 and a 52-week high of $26.96. The company’s 50 day moving average price is $15.25 and its 200-day moving average price is $17.97.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.31). The firm had revenue of $131.77 million during the quarter, compared to analyst estimates of $142.11 million. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. Analysts forecast that Movado Group will post 1.05 earnings per share for the current year.

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.59%. Movado Group’s payout ratio is presently 160.92%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Coppell Advisory Solutions LLC lifted its position in shares of Movado Group by 14,191.7% during the 1st quarter. Coppell Advisory Solutions LLC now owns 1,715 shares of the company’s stock valued at $29,000 after acquiring an additional 1,703 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Movado Group during the 4th quarter valued at $47,000. GAMMA Investing LLC lifted its position in shares of Movado Group by 3,303.5% during the 1st quarter. GAMMA Investing LLC now owns 2,893 shares of the company’s stock valued at $48,000 after acquiring an additional 2,808 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Movado Group by 1,597.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,412 shares of the company’s stock valued at $57,000 after acquiring an additional 3,211 shares during the period. Finally, Aigen Investment Management LP acquired a new position in shares of Movado Group during the 4th quarter valued at $201,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

Movado Group Company Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.