Movado Group Inc. (MOV) Scheduled to Post Quarterly Earnings on Tuesday
Movado Group Inc. (NYSE:MOV) will be announcing its Q317 earnings results on Tuesday, November 22nd. Analysts expect the company to announce earnings of $0.72 per share and revenue of $174.32 million for the quarter. Movado Group has set its FY17 guidance at $1.40-1.55 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.
Movado Group (NYSE:MOV) last announced its earnings results on Thursday, August 25th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.04. The business had revenue of $128.10 million for the quarter, compared to analyst estimates of $135.92 million. Movado Group had a return on equity of 9.15% and a net margin of 6.84%. The business’s revenue was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. On average, analysts expect Movado Group to post $1.46 EPS for the current fiscal year and $1.65 EPS for the next fiscal year.
Movado Group Inc. (NYSE:MOV) opened at 26.50 on Friday. The firm’s 50-day moving average is $22.47 and its 200-day moving average is $22.57. The firm has a market cap of $608.18 million, a PE ratio of 15.84 and a beta of 0.36. Movado Group Inc. has a 12 month low of $19.14 and a 12 month high of $30.98.
Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Movado Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 9th. Cowen and Company restated a “market perform” rating and set a $24.00 price target on shares of Movado Group in a research report on Friday, August 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $29.00.
A number of institutional investors have recently made changes to their positions in MOV. BlackRock Inc. raised its position in shares of Movado Group by 557.1% in the second quarter. BlackRock Inc. now owns 6,407 shares of the company’s stock worth $139,000 after buying an additional 5,432 shares in the last quarter. BlackRock Advisors LLC raised its position in shares of Movado Group by 1.0% in the second quarter. BlackRock Advisors LLC now owns 7,536 shares of the company’s stock worth $163,000 after buying an additional 78 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Movado Group during the third quarter worth about $242,000. Paradigm Asset Management Co. LLC raised its position in shares of Movado Group by 15.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 14,000 shares of the company’s stock worth $304,000 after buying an additional 1,900 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new position in shares of Movado Group during the third quarter worth about $352,000. Hedge funds and other institutional investors own 65.94% of the company’s stock.
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, department stores and independent jewelers.
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