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

BWS Financial reissued their buy rating on shares of Movado Group (NYSE:MOV) in a research note published on Monday morning,Benzinga reports. The firm currently has a $45.00 target price on the stock.

A number of other equities research analysts have also weighed in on MOV. Weiss Ratings lowered Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Zacks Research upgraded shares of Movado Group from a “hold” rating to a “strong-buy” rating in a report on Friday, May 29th. Finally, Northland Securities set a $35.00 price objective on shares of Movado Group in a research report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Movado Group currently has an average rating of “Buy” and a consensus target price of $40.00.

Movado Group Price Performance

Movado Group stock opened at $37.66 on Monday. The stock has a market capitalization of $831.62 million, a price-to-earnings ratio of 26.90 and a beta of 0.96. Movado Group has a 1-year low of $14.78 and a 1-year high of $39.85. The business has a fifty day moving average price of $36.54 and a 200-day moving average price of $28.98.

Movado Group (NYSE:MOV) last announced its earnings results on Wednesday, May 27th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.26. Movado Group had a return on equity of 7.13% and a net margin of 4.70%.The firm had revenue of $142.40 million for the quarter, compared to the consensus estimate of $135.12 million. During the same period in the previous year, the business earned $0.06 EPS. On average, equities research analysts anticipate that Movado Group will post 1.83 earnings per share for the current fiscal year.

Movado Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were paid a $0.40 dividend. The ex-dividend date was Wednesday, June 10th. This is an increase from Movado Group’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.2%. Movado Group’s dividend payout ratio (DPR) is currently 114.29%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings in Movado Group by 39.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock valued at $33,000 after purchasing an additional 449 shares during the last quarter. Comerica Bank raised its stake in shares of Movado Group by 99.0% during the 3rd quarter. Comerica Bank now owns 1,785 shares of the company’s stock valued at $34,000 after buying an additional 888 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Movado Group by 70.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock valued at $36,000 after buying an additional 724 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Movado Group by 16,040.0% in the 1st quarter. Fifth Third Bancorp now owns 1,614 shares of the company’s stock valued at $39,000 after buying an additional 1,604 shares during the period. Finally, State of Wyoming acquired a new position in shares of Movado Group in the 2nd quarter valued at about $40,000. Hedge funds and other 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.