Movado Group (NYSE:MOV) Stock Moved Up to Strong-Buy by Wall Street Zen

Wall Street Zen upgraded shares of Movado Group (NYSE:MOV) from a buy rating to a strong-buy rating in a research note published on Saturday,Wall Street Zen reports.

Other analysts have also issued reports about the company. Zacks Research lowered Movado Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 2nd. Weiss Ratings downgraded Movado Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 22nd. Finally, BWS Financial reaffirmed a “buy” rating and set a $45.00 target price on shares of Movado Group in a report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Movado Group Price Performance

Shares of MOV stock opened at $31.08 on Friday. The company’s fifty day simple moving average is $32.72 and its two-hundred day simple moving average is $31.08. Movado Group has a 1 year low of $17.74 and a 1 year high of $40.50. The stock has a market capitalization of $693.39 million, a price-to-earnings ratio of 17.27 and a beta of 0.90.

Movado Group (NYSE:MOV) last posted its earnings results on Wednesday, August 26th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.19. Movado Group had a return on equity of 8.49% and a net margin of 6.00%. The firm had revenue of $169.75 million for the quarter, compared to the consensus estimate of $164.20 million. Equities research analysts anticipate that Movado Group will post 1.94 EPS for the current year.

Movado Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Tuesday, September 8th. Movado Group’s dividend payout ratio (DPR) is presently 88.89%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MOV. Empowered Funds LLC bought a new stake in shares of Movado Group during the 2nd quarter valued at about $4,063,000. Bank of America Corp DE purchased a new position in shares of Movado Group during the second quarter worth about $1,246,000. Man Group plc purchased a new position in shares of Movado Group during the second quarter worth about $1,519,000. Bank of New York Mellon Corp purchased a new position in shares of Movado Group during the second quarter worth about $6,664,000. Finally, Deutsche Bank AG bought a new position in shares of Movado Group in the second quarter worth approximately $615,000. Institutional investors own 72.08% of the company’s stock.

About Movado Group

Movado Group, Inc is a designer, manufacturer, and distributor of watches and related accessories. The company’s portfolio includes its Movado brand, known for minimalist designs and the Museum dial, as well as a range of licensed and owned brands that have included Ebel, Concord, MVMT, Olivia Burton, and fashion-label watch collections.

Movado Group sells watches, jewelry, and accessories through department and specialty stores, authorized retailers, company-operated stores, e-commerce platforms, and other distribution channels.