Movado Group Downgraded to Equal Weight at Stephens (MOV)
Movado Group (NYSE:MOV) was downgraded by stock analysts at Stephens from an “overweight” rating to an “equal weight” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports.
Movado Group (NYSE:MOV) opened at 40.64 on Wednesday. Movado Group has a one year low of $34.77 and a one year high of $48.50. The stock’s 50-day moving average is $41.06 and its 200-day moving average is $40.81. The company has a market cap of $1.028 billion and a P/E ratio of 22.69.
Movado Group (NYSE:MOV) last announced its earnings results on Tuesday, August 26th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.54 by $0.10. The company had revenue of $143.60 million for the quarter, compared to the consensus estimate of $152.91 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that Movado Group will post $2.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.98%.
Separately, analysts at Barrington Research initiated coverage on shares of Movado Group in a research note on Monday, June 23rd. They set an “outperform” rating and a $49.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $53.00.
Movado Group, Inc (NYSE:MOV), designs, sources, markets and distributes fine watches.
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