Movado Group, Inc to Post Q3 2019 Earnings of $1.08 Per Share, KeyCorp Forecasts (MOV)

Movado Group, Inc to Post Q3 2019 Earnings of $1.08 Per Share, KeyCorp Forecasts (MOV)

Movado Group, Inc (NYSE:MOV) – Investment analysts at KeyCorp lifted their Q3 2019 earnings estimates for Movado Group in a report released on Wednesday. KeyCorp analyst E. Yruma now expects that the company will post earnings per share of $1.08 for the quarter, up from their previous forecast of $1.07. KeyCorp also issued estimates for Movado Group’s FY2019 earnings at $1.88 EPS.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Tuesday, November 21st. The company reported $1.04 EPS for the quarter, beating 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 company had revenue of $190.69 million during the quarter, compared to analysts’ expectations of $176.33 million. During the same period in the prior year, the business posted $0.91 EPS. Movado Group’s revenue was up 6.0% on a year-over-year basis.

Several other equities analysts have also issued reports on the company. ValuEngine upgraded Movado Group from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. Zacks Investment Research lowered Movado Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Movado Group presently has a consensus rating of “Hold” and an average target price of $28.50.

Movado Group (NYSE:MOV) opened at $32.20 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.80 and a quick ratio of 3.12. Movado Group has a 12-month low of $20.50 and a 12-month high of $33.95. The stock has a market capitalization of $744.37, a P/E ratio of 31.26 and a beta of -0.02.

In related news, CFO Sallie A. Demarsilis sold 5,401 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $28.44, for a total value of $153,604.44. Following the completion of the transaction, the chief financial officer now directly owns 31,978 shares in the company, valued at approximately $909,454.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Cote sold 1,600 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 397,296 shares of the company’s stock, valued at $12,721,417.92. The disclosure for this sale can be found here. Insiders sold a total of 15,751 shares of company stock valued at $485,837 over the last quarter. 32.98% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. QS Investors LLC boosted its position in Movado Group by 0.5% during the 2nd quarter. QS Investors LLC now owns 5,748 shares of the company’s stock worth $145,000 after acquiring an additional 27 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Movado Group by 1.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,855 shares of the company’s stock worth $122,000 after acquiring an additional 78 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Movado Group by 4.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,366 shares of the company’s stock worth $337,000 after acquiring an additional 623 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Movado Group by 5.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 13,343 shares of the company’s stock worth $337,000 after acquiring an additional 647 shares during the last quarter. Finally, Voya Investment Management LLC boosted its position in Movado Group by 4.3% during the 2nd quarter. Voya Investment Management LLC now owns 35,217 shares of the company’s stock worth $889,000 after acquiring an additional 1,453 shares during the last quarter. 64.82% of the stock is owned by hedge funds and other institutional investors.

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About Movado Group

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.

Earnings History and Estimates for Movado Group (NYSE:MOV)

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Movado Group, Inc (NYSE:MOV) – KeyCorp raised their Q3 2019 earnings per share (EPS) estimates for shares of Movado Group in a research report issued to clients and investors on Wednesday. KeyCorp analyst E. Yruma now anticipates that the company will earn $1.08 per share for the quarter, up from their prior forecast of $1.07. KeyCorp also issued estimates for Movado Group’s FY2019 earnings at $1.88 EPS.

Movado Group (NYSE:MOV) last posted its earnings results on Tuesday, November 21st. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.18. Movado Group had a net margin of 4.35% and a return on equity of 8.34%. The business had revenue of $190.69 million for the quarter, compared to analyst estimates of $176.33 million. During the same period in the prior year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis.

Several other equities research analysts have also issued reports on MOV. ValuEngine raised shares of Movado Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research lowered shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Movado Group currently has an average rating of “Hold” and an average price target of $28.50.

Shares of Movado Group (MOV) opened at $32.20 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.12 and a current ratio of 4.80. Movado Group has a 12 month low of $20.50 and a 12 month high of $33.95. The stock has a market cap of $744.37, a PE ratio of 31.26 and a beta of -0.02.

A number of institutional investors have recently modified their holdings of the stock. QS Investors LLC lifted its stake in Movado Group by 0.5% in the 2nd quarter. QS Investors LLC now owns 5,748 shares of the company’s stock valued at $145,000 after buying an additional 27 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Movado Group by 1.6% in the 2nd 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 in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Movado Group by 4.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,366 shares of the company’s stock valued at $337,000 after buying an additional 623 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Movado Group by 5.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 13,343 shares of the company’s stock valued at $337,000 after buying an additional 647 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in Movado Group by 4.3% in the 2nd quarter. Voya Investment Management LLC now owns 35,217 shares of the company’s stock valued at $889,000 after buying an additional 1,453 shares in the last quarter. 64.82% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Richard D. Isserman sold 2,650 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $32.07, for a total value of $84,985.50. Following the transaction, the director now directly owns 11,184 shares of the company’s stock, valued at approximately $358,670.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Cote sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $32.05, for a total transaction of $51,280.00. Following the completion of the transaction, the director now directly owns 394,296 shares in the company, valued at $12,637,186.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,751 shares of company stock worth $485,837. Corporate insiders own 32.98% of the company’s stock.

WARNING: “Movado Group, Inc to Post Q3 2019 Earnings of $1.08 Per Share, KeyCorp Forecasts (MOV)” was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another site, it was stolen and reposted in violation of international trademark & copyright law. The original version of this news story can be read at https://www.dispatchtribunal.com/2018/02/18/movado-group-inc-to-post-q3-2019-earnings-of-1-08-per-share-keycorp-forecasts-mov.html.

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.

Earnings History and Estimates for Movado Group (NYSE:MOV)

Receive News & Ratings for Movado Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Movado Group and related companies with MarketBeat.com's FREE daily email newsletter.

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