Movado Group (NYSE:MOV) Now Covered by Analysts at Northland Securities

Northland Securities assumed coverage on shares of Movado Group (NYSE:MOV) in a report issued on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $30.00 target price on the stock.

MOV has been the topic of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Movado Group in a research note on Monday, December 29th. Zacks Research lowered shares of Movado Group from a “hold” rating to a “strong sell” rating in a report on Friday, November 28th. BWS Financial reissued a “buy” rating and set a $31.50 target price on shares of Movado Group in a report on Wednesday, November 26th. Finally, Wall Street Zen upgraded shares of Movado Group from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Movado Group presently has an average rating of “Hold” and an average target price of $30.75.

Movado Group Stock Performance

NYSE MOV opened at $21.79 on Wednesday. The firm has a 50-day moving average of $20.14 and a 200-day moving average of $18.41. Movado Group has a 52-week low of $12.85 and a 52-week high of $22.36. The stock has a market cap of $482.45 million, a PE ratio of 22.47 and a beta of 0.90.

Movado Group (NYSE:MOV) last posted its quarterly earnings data on Tuesday, November 25th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.12). Movado Group had a return on equity of 5.86% and a net margin of 3.33%.The firm had revenue of $186.13 million for the quarter, compared to the consensus estimate of $185.89 million. During the same period in the prior year, the company earned $0.22 EPS. As a group, analysts predict that Movado Group will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Monday, December 8th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date was Monday, December 8th. Movado Group’s dividend payout ratio is currently 144.33%.

Institutional Investors Weigh In On Movado Group

Several hedge funds have recently bought and sold shares of the business. Coppell Advisory Solutions LLC grew its stake in shares of Movado Group by 14,191.7% in the first quarter. Coppell Advisory Solutions LLC now owns 1,715 shares of the company’s stock worth $29,000 after acquiring an additional 1,703 shares during the last quarter. Comerica Bank raised its stake in shares of Movado Group by 99.0% in the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after buying an additional 888 shares during the period. CWM LLC raised its position in shares of Movado Group by 49.9% during the 2nd quarter. CWM LLC now owns 2,588 shares of the company’s stock valued at $39,000 after purchasing an additional 862 shares during the period. State of Wyoming bought a new stake in Movado Group during the 2nd quarter valued at approximately $40,000. Finally, Harbor Capital Advisors Inc. lifted its stake in Movado Group by 20.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,655 shares of the company’s stock worth $88,000 after purchasing an additional 790 shares in the last quarter. Institutional investors own 72.08% of the company’s stock.

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.