Brokerages Anticipate Movado Group, Inc (NYSE:MOV) to Announce $1.03 EPS

Analysts expect that Movado Group, Inc (NYSE:MOV) will report earnings per share of $1.03 for the current quarter, according to Zacks. Zero analysts have made estimates for Movado Group’s earnings. Movado Group posted earnings per share of $1.18 in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.7%. The business is scheduled to announce its next earnings results on Tuesday, December 3rd.

On average, analysts expect that Movado Group will report full-year earnings of $2.27 per share for the current year. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Movado Group.

Movado Group (NYSE:MOV) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.13). Movado Group had a return on equity of 11.74% and a net margin of 9.23%. The company had revenue of $157.80 million during the quarter, compared to the consensus estimate of $167.00 million. During the same period in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis.

Several brokerages have recently commented on MOV. Cowen lowered shares of Movado Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $40.00 to $22.00 in a research note on Thursday, August 29th. Zacks Investment Research lowered shares of Movado Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 5th.

Shares of MOV traded down $0.34 during mid-day trading on Tuesday, hitting $26.05. 134,876 shares of the company’s stock were exchanged, compared to its average volume of 206,570. The firm has a fifty day moving average of $25.11 and a two-hundred day moving average of $26.95. Movado Group has a twelve month low of $18.78 and a twelve month high of $44.39. The stock has a market cap of $657.74 million, a price-to-earnings ratio of 9.76 and a beta of 0.53. The company has a quick ratio of 2.05, a current ratio of 3.64 and a debt-to-equity ratio of 0.27.

In other news, Director Maurice S. Reznik bought 3,002 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average cost of $21.25 per share, for a total transaction of $63,792.50. Following the purchase, the director now owns 35,732 shares of the company’s stock, valued at approximately $759,305. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 29.92% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. FTB Advisors Inc. purchased a new position in Movado Group during the 2nd quarter worth $26,000. Tower Research Capital LLC TRC boosted its holdings in Movado Group by 97.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,811 shares of the company’s stock worth $45,000 after acquiring an additional 896 shares during the last quarter. Quantamental Technologies LLC purchased a new position in Movado Group during the 2nd quarter worth $48,000. Advisor Group Inc. boosted its holdings in Movado Group by 390.6% during the 2nd quarter. Advisor Group Inc. now owns 3,248 shares of the company’s stock worth $88,000 after acquiring an additional 2,586 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Movado Group by 127.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,715 shares of the company’s stock worth $92,000 after acquiring an additional 2,084 shares during the last quarter. Institutional investors and hedge funds own 70.12% of the company’s stock.

Movado Group Company Profile

Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.

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