Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Movado Group (MOV) Share Price
Media coverage about Movado Group (NYSE:MOV) has trended somewhat positive recently, according to Accern. Accern identifies positive and negative press coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Movado Group earned a daily sentiment score of 0.12 on Accern’s scale. Accern also assigned media stories about the company an impact score of 45.7639752910355 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the news stories that may have effected Accern Sentiment’s analysis:
- Movado Group, Inc. breached its 50 day moving average in a Bullish Manner : MOV-US : November 15, 2017 (finance.yahoo.com)
- Movado Group, Inc. : Announces Date of Conference Call and Webcast for Third Quarter Fiscal Year 2018 Results (4-traders.com)
- Dreamgirl, Christopher Scharff Part Ways (xbiz.com)
- Top Ranked Value Stocks to Buy for November 13th (finance.yahoo.com)
- Movado Group Inc. (MOV) to Release Quarterly Earnings on Monday (americanbankingnews.com)
Shares of Movado Group (NYSE:MOV) traded up $0.40 during midday trading on Friday, hitting $28.45. The company had a trading volume of 118,381 shares, compared to its average volume of 83,773. The company has a quick ratio of 3.20, a current ratio of 5.26 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $662.85, a price-to-earnings ratio of 17.64 and a beta of 0.17. Movado Group has a 12-month low of $20.50 and a 12-month high of $31.95.
Movado Group (NYSE:MOV) last announced its quarterly earnings results on Tuesday, August 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.18. The firm had revenue of $128.80 million during the quarter, compared to analyst estimates of $122.00 million. Movado Group had a return on equity of 7.74% and a net margin of 4.97%. Movado Group’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. equities research analysts anticipate that Movado Group will post 1.62 earnings per share for the current year.
Movado Group declared that its Board of Directors has approved a share repurchase program on Tuesday, August 29th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
A number of analysts recently issued reports on the company. ValuEngine upgraded Movado Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded Movado Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. KeyCorp reiterated a “hold” rating on shares of Movado Group in a report on Wednesday, October 11th. Finally, BidaskClub lowered Movado Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Movado Group presently has an average rating of “Buy” and an average target price of $30.33.
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In related news, Director Nathan Leventhal sold 3,130 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $28.05, for a total value of $87,796.50. Following the completion of the transaction, the director now owns 14,565 shares of the company’s stock, valued at $408,548.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sallie A. Demarsilis sold 8,977 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $28.50, for a total transaction of $255,844.50. Following the completion of the transaction, the chief financial officer now directly owns 37,379 shares of the company’s stock, valued at approximately $1,065,301.50. The disclosure for this sale can be found here. Insiders sold 14,611 shares of company stock valued at $412,201 in the last three months. 32.98% of the stock is currently owned by insiders.
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 and department stores, as well as independent jewelers.
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