Movado Group (NYSE:MOV) Upgraded by Northland Capmk to Strong-Buy Rating

Northland Capmk upgraded shares of Movado Group (NYSE:MOV) to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

A number of other analysts have also issued reports on the stock. BWS Financial reissued a “buy” rating and issued a $31.50 price target on shares of Movado Group in a research report on Wednesday, November 26th. Northland Securities started coverage on shares of Movado Group in a research note on Wednesday. They issued an “outperform” rating and a $30.00 price objective on the stock. Wall Street Zen upgraded shares of Movado Group from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. Zacks Research cut shares of Movado Group from a “hold” rating to a “strong sell” rating in a report on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Movado Group in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Movado Group has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Movado Group Stock Up 0.1%

MOV opened at $21.79 on Wednesday. The firm has a market capitalization of $482.45 million, a P/E ratio of 22.47 and a beta of 0.90. The stock has a fifty day moving average of $20.14 and a 200-day moving average of $18.41. Movado Group has a 12-month low of $12.85 and a 12-month high of $22.36.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Tuesday, November 25th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.12). The business had revenue of $186.13 million for the quarter, compared to analyst estimates of $185.89 million. Movado Group had a net margin of 3.33% and a return on equity of 5.86%. During the same period in the previous year, the firm posted $0.22 earnings per share. On average, analysts expect that Movado Group will post 1.05 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, December 8th. This represents a $1.40 annualized dividend and a dividend yield of 6.4%. Movado Group’s dividend payout ratio is 144.33%.

Institutional Investors Weigh In On Movado Group

A number of large investors have recently bought and sold shares of the business. Comerica Bank increased its position in Movado Group by 99.0% during the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after buying an additional 888 shares during the last quarter. CWM LLC boosted its stake in shares of Movado Group by 49.9% during the 2nd quarter. CWM LLC now owns 2,588 shares of the company’s stock worth $39,000 after acquiring an additional 862 shares in the last quarter. State of Wyoming bought a new stake in shares of Movado Group during the 2nd quarter worth about $40,000. Harbor Capital Advisors Inc. increased its holdings in shares of Movado Group by 20.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,655 shares of the company’s stock valued at $88,000 after acquiring an additional 790 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Movado Group in the 2nd quarter worth approximately $173,000. 72.08% of the stock is currently owned by institutional investors.

Movado Group Company Profile

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.