Movado Group (NYSE:MOV) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Movado Group (NYSE:MOV) released its quarterly earnings results on Wednesday. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.19, FiscalAI reports. Movado Group had a return on equity of 7.13% and a net margin of 4.70%.The business had revenue of $169.75 million during the quarter, compared to analyst estimates of $164.20 million.

Movado Group Stock Up 0.8%

NYSE MOV opened at $35.02 on Wednesday. The stock’s 50-day simple moving average is $37.55 and its two-hundred day simple moving average is $31.06. Movado Group has a twelve month low of $16.75 and a twelve month high of $40.50. The company has a market capitalization of $773.29 million, a price-to-earnings ratio of 25.02 and a beta of 0.97.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Northland Securities set a $35.00 target price on shares of Movado Group in a research report on Wednesday, May 27th. Zacks Research upgraded shares of Movado Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. BWS Financial reaffirmed a “buy” rating and issued a $45.00 price target on shares of Movado Group in a report on Monday, July 27th. Finally, Weiss Ratings cut shares of Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $40.00.

Hedge Funds Weigh In On Movado Group

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in Movado Group by 212.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company’s stock worth $11,226,000 after buying an additional 456,727 shares during the last quarter. JPMorgan Chase & Co. raised its stake 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 worth $2,458,000 after acquiring an additional 97,566 shares in the last quarter. AQR Capital Management LLC raised its stake 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 worth $3,853,000 after acquiring an additional 90,578 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Movado Group by 14.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 636,862 shares of the company’s stock worth $9,712,000 after acquiring an additional 80,109 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Movado Group by 45.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 255,699 shares of the company’s stock worth $4,851,000 after acquiring an additional 79,684 shares during the last quarter. 72.08% of the stock is owned by hedge funds and other institutional investors.

About Movado Group

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.