Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Movado Group (MOV) Share Price
Headlines about Movado Group (NYSE:MOV) have been trending somewhat positive recently, according to Accern. The research group rates the sentiment of press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Movado Group earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave news headlines about the company an impact score of 46.9103029066741 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Shares of Movado Group (NYSE MOV) traded down 1.07% during midday trading on Friday, reaching $27.65. 25,090 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $26.49 and its 200 day moving average price is $24.35. The stock has a market capitalization of $635.15 million, a P/E ratio of 23.84 and a beta of 0.22. Movado Group has a 1-year low of $20.50 and a 1-year high of $31.95.
Movado Group (NYSE:MOV) last issued its earnings results on Tuesday, August 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.18. Movado Group had a net margin of 4.97% and a return on equity of 7.74%. The business had revenue of $128.80 million during the quarter, compared to analysts’ expectations of $122.00 million. During the same quarter in the prior year, the business posted $0.27 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities analysts predict that Movado Group will post $1.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Monday, September 11th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Friday, September 8th. Movado Group’s payout ratio is 45.22%.
Movado Group announced that its Board of Directors has authorized a share buyback program on Tuesday, August 29th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
Several brokerages have weighed in on MOV. ValuEngine upgraded shares of Movado Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Movado Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, BidaskClub downgraded shares of Movado Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Movado Group has an average rating of “Buy” and a consensus target price of $30.33.
TRADEMARK VIOLATION WARNING: “Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Movado Group (MOV) Share Price” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/10/06/somewhat-favorable-media-coverage-somewhat-unlikely-to-affect-movado-group-mov-share-price.html.
In related news, major shareholder Miriam Grinberg Phalen sold 2,504 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $27.38, for a total transaction of $68,559.52. Following the completion of the sale, the insider now owns 1,376 shares in the company, valued at approximately $37,674.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Nathan Leventhal sold 3,130 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $28.05, for a total transaction of $87,796.50. Following the sale, the director now owns 14,565 shares of the company’s stock, valued at approximately $408,548.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,611 shares of company stock valued at $412,201. 32.98% of the stock is owned by company insiders.
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.
Receive News & Stock Ratings for Movado Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Movado Group Inc. and related stocks with our FREE daily email newsletter.