Shares of Movado Group, Inc (NYSE:MOV) have received a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $30.33.
A number of brokerages have issued reports on MOV. ValuEngine raised Movado Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. KeyCorp reaffirmed a “hold” rating on shares of Movado Group in a report on Wednesday, October 11th.
Movado Group (NYSE:MOV) opened at $33.75 on Friday. Movado Group has a fifty-two week low of $20.50 and a fifty-two week high of $33.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.80 and a quick ratio of 3.12. The stock has a market capitalization of $746.66, a PE ratio of 32.77 and a beta of 0.20.
Movado Group (NYSE:MOV) last issued its earnings results on Tuesday, November 21st. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Movado Group had a return on equity of 8.34% and a net margin of 4.35%. The business had revenue of $190.69 million during the quarter, compared to analysts’ expectations of $176.33 million. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. equities analysts forecast that Movado Group will post 1.74 earnings per share for the current year.
In other news, Director Richard D. Isserman sold 2,650 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $32.07, for a total value of $84,985.50. Following the completion of the sale, the director now owns 11,184 shares of the company’s stock, valued at $358,670.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard Cote sold 1,600 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $32.02, for a total value of $51,232.00. Following the completion of the sale, the director now directly owns 397,296 shares of the company’s stock, valued at approximately $12,721,417.92. The disclosure for this sale can be found here. In the last three months, insiders sold 11,251 shares of company stock valued at $341,806. Insiders own 32.98% of the company’s stock.
Several hedge funds have recently modified their holdings of MOV. Legal & General Group Plc increased its stake in shares of Movado Group by 9.0% in the second quarter. Legal & General Group Plc now owns 27,810 shares of the company’s stock valued at $701,000 after buying an additional 2,291 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Movado Group by 13.3% in the second quarter. BNP Paribas Arbitrage SA now owns 6,617 shares of the company’s stock valued at $167,000 after buying an additional 776 shares during the period. Principal Financial Group Inc. increased its stake in shares of Movado Group by 0.3% in the second quarter. Principal Financial Group Inc. now owns 117,851 shares of the company’s stock valued at $2,976,000 after buying an additional 367 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Movado Group by 1.6% in the second quarter. PNC Financial Services Group Inc. now owns 4,855 shares of the company’s stock valued at $122,000 after buying an additional 78 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Movado Group by 16.2% in the second quarter. Citigroup Inc. now owns 22,379 shares of the company’s stock valued at $565,000 after buying an additional 3,115 shares during the period. 63.83% of the stock is owned by institutional investors.
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Movado Group Company Profile
Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.
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