Movado Group Inc. (MOV) Releases FY17 Earnings Guidance
Movado Group Inc. (NYSE:MOV) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.40-1.55 for the period, compared to the Thomson Reuters consensus estimate of $1.47. The company issued revenue guidance of $550-560 million, compared to the consensus revenue estimate of $555.53 million.
Several research analysts have weighed in on the company. Sidoti set a $34.00 price target on Movado Group and gave the company a buy rating in a report on Tuesday. Zacks Investment Research upgraded Movado Group from a sell rating to a hold rating in a report on Wednesday, November 9th. Finally, Cowen and Company restated a market perform rating and set a $24.00 price objective on shares of Movado Group in a report on Monday, September 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $29.00.
Shares of Movado Group Inc. (NYSE:MOV) opened at 29.50 on Wednesday. The stock’s 50 day moving average price is $23.09 and its 200-day moving average price is $22.49. The firm has a market capitalization of $677.03 million, a P/E ratio of 17.63 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.
Movado Group (NYSE:MOV) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. Movado Group had a net margin of 6.84% and a return on equity of 9.15%. The firm earned $179.80 million during the quarter, compared to analyst estimates of $174.32 million. During the same quarter last year, the business posted $0.92 EPS. The company’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts expect that Movado Group Inc. will post $1.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.76%. Movado Group’s dividend payout ratio (DPR) is currently 31.14%.
Several large investors have recently modified their holdings of MOV. BlackRock Advisors LLC raised its stake 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 during the period. California State Teachers Retirement System raised its stake in shares of Movado Group by 0.9% in the third quarter. California State Teachers Retirement System now owns 32,566 shares of the company’s stock worth $700,000 after buying an additional 300 shares during the period. BlackRock Group LTD raised its stake in shares of Movado Group by 5.2% in the second quarter. BlackRock Group LTD now owns 21,954 shares of the company’s stock worth $476,000 after buying an additional 1,081 shares during the period. Rhumbline Advisers raised its stake in shares of Movado Group by 4.7% in the third quarter. Rhumbline Advisers now owns 24,582 shares of the company’s stock worth $528,000 after buying an additional 1,095 shares during the period. Finally, Teachers Advisors LLC raised its stake in shares of Movado Group by 4.7% in the third quarter. Teachers Advisors LLC now owns 31,459 shares of the company’s stock worth $676,000 after buying an additional 1,412 shares during the period. 63.09% 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, department stores and independent jewelers.
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