Movado Group Inc. (MOV) Declares Quarterly Dividend of $0.13
Movado Group Inc. (NYSE:MOV) announced a quarterly dividend on Tuesday, November 22nd. Investors of record on Friday, December 2nd will be given a dividend of 0.13 per share on Friday, December 16th. This represents a $0.52 dividend on an annualized basis and a yield of 2.02%.
Shares of Movado Group (NYSE:MOV) opened at 25.75 on Tuesday. Movado Group has a 52-week low of $19.14 and a 52-week high of $30.98. The company’s 50-day moving average price is $22.86 and its 200-day moving average price is $22.48. The company has a market capitalization of $590.96 million, a price-to-earnings ratio of 15.39 and a beta of 0.36.
Movado Group (NYSE:MOV) last issued its quarterly earnings data on Tuesday, November 22nd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.19. Movado Group had a return on equity of 9.15% and a net margin of 6.84%. The company earned $179.80 million during the quarter, compared to analysts’ expectations of $174.32 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. Equities research analysts forecast that Movado Group will post $1.46 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Paradigm Asset Management Co. LLC increased its stake in 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 during the last quarter. Riverhead Capital Management LLC increased its stake in Movado Group by 15,254.9% in the second quarter. Riverhead Capital Management LLC now owns 217,732 shares of the company’s stock worth $14,364,000 after buying an additional 216,314 shares during the last quarter. State Street Corp increased its stake in Movado Group by 12.7% in the second quarter. State Street Corp now owns 353,949 shares of the company’s stock worth $7,675,000 after buying an additional 39,946 shares during the last quarter. Spark Investment Management LLC acquired a new stake in Movado Group during the second quarter worth $626,000. Finally, Algert Global LLC acquired a new stake in Movado Group during the second quarter worth $474,000. Institutional investors own 63.09% of the company’s stock.
A number of equities research analysts have recently issued reports on MOV shares. Zacks Investment Research upgraded Movado Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Cowen and Company restated a “market perform” rating and set a $24.00 price objective on shares of Movado Group in a report on Friday, August 26th. Four 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.
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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