Movado Group Inc. (MOV) Updates FY14 Earnings Guidance
Movado Group Inc. (NYSE:MOV) issued an update on its FY14 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.92, Analyst Ratings Network reports. The company issued revenue guidance of $580 million, compared to the consensus revenue estimate of $581.54 million.
Shares of Movado Group Inc. (NYSE:MOV) traded down 0.27% on Monday, hitting $40.85. The stock had a trading volume of 21,153 shares. Movado Group Inc. has a 1-year low of $29.21 and a 1-year high of $48.50. The stock has a 50-day moving average of $43.79 and a 200-day moving average of $41.77. The company has a market cap of $1.038 billion and a price-to-earnings ratio of 20.55.
Movado Group (NYSE:MOV) last announced its earnings results on Tuesday, November 26th. The company reported $0.89 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.87 by $0.02. The company had revenue of $189.70 million for the quarter, compared to the consensus estimate of $184.35 million. During the same quarter in the prior year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis. On average, analysts predict that Movado Group Inc. will post $1.92 earnings per share for the current fiscal year.
MOV has been the subject of a number of recent research reports. Analysts at Dougherty & Co initiated coverage on shares of Movado Group in a research note to investors on Thursday, December 12th. They set a buy rating and a $56.00 price target on the stock. On a related note, analysts at Zacks upgraded shares of Movado Group from a neutral rating to an outperform rating in a research note to investors on Wednesday, November 13th. They now have a $48.30 price target on the stock. Finally, analysts at KeyCorp initiated coverage on shares of Movado Group in a research note to investors on Monday, November 11th. They set a hold rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $47.08.
Movado Group, Inc (NYSE:MOV), designs, sources, markets and distributes fine watches.
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