Movado Group (NYSE:MOV) Hits New 1-Year High – Should You Buy?

Shares of Movado Group Inc. (NYSE:MOV) hit a new 52-week high on Wednesday . The company traded as high as $25.94 and last traded at $25.7550, with a volume of 28396 shares. The stock had previously closed at $24.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BWS Financial reiterated a “buy” rating and issued a $31.50 target price on shares of Movado Group in a report on Friday, March 20th. Zacks Research upgraded Movado Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Wall Street Zen upgraded Movado Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Movado Group in a report on Monday, December 29th. Finally, Northland Securities assumed coverage on Movado Group in a report on Wednesday, January 7th. They issued an “outperform” rating and a $30.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Movado Group has an average rating of “Moderate Buy” and an average price target of $30.75.

Movado Group Price Performance

The firm has a market capitalization of $565.31 million, a P/E ratio of 22.04 and a beta of 0.85. The stock has a fifty day simple moving average of $24.23 and a two-hundred day simple moving average of $21.52.

Movado Group (NYSE:MOV) last released its quarterly earnings data on Thursday, March 19th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.52 by $0.05. The firm had revenue of $191.58 million during the quarter, compared to the consensus estimate of $182.02 million. Movado Group had a return on equity of 6.09% and a net margin of 3.96%. As a group, sell-side analysts expect that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, April 2nd. This represents a $1.40 annualized dividend and a dividend yield of 5.5%. Movado Group’s payout ratio is currently 120.69%.

Institutional Investors Weigh In On Movado Group

Several hedge funds and other institutional investors have recently modified their holdings of MOV. Goldman Sachs Group Inc. increased its holdings in shares of Movado Group by 212.8% during the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock valued at $11,226,000 after acquiring an additional 456,727 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Movado Group by 426.8% during the second quarter. Russell Investments Group Ltd. now owns 176,015 shares of the company’s stock valued at $2,684,000 after buying an additional 142,601 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Movado Group by 153.4% during the second quarter. JPMorgan Chase & Co. now owns 161,178 shares of the company’s stock valued at $2,458,000 after buying an additional 97,566 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Movado Group by 94.1% during the fourth quarter. AQR Capital Management LLC now owns 186,862 shares of the company’s stock valued at $3,853,000 after buying an additional 90,578 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Movado Group by 14.4% during the second quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock valued at $9,712,000 after buying an additional 80,109 shares during the last quarter. Institutional investors own 72.08% of the company’s stock.

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.