Movado Group Inc. Announces Quarterly Dividend of $0.10 (MOV)
Movado Group (NYSE:MOV) announced a quarterly dividend on Wednesday, August 27th, StockRatingsNetwork.com reports. Investors of record on Friday, September 5th will be paid a dividend of 0.10 per share on Monday, September 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Wednesday, September 3rd.
Several analysts have recently commented on the stock. Analysts at Stephens downgraded shares of Movado Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $53.00.
Movado Group (NYSE:MOV) traded down 4.55% on Wednesday, hitting $38.79. The stock had a trading volume of 467,788 shares. Movado Group has a 52 week low of $34.77 and a 52 week high of $48.50. The stock has a 50-day moving average of $41.06 and a 200-day moving average of $40.81. The company has a market cap of $981.4 million and a P/E ratio of 20.94.
Movado Group (NYSE:MOV) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.44 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.44 earnings per share. Movado Group’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that Movado Group will post $2.46 earnings per share for the current fiscal year.
Movado Group, Inc (NYSE:MOV), designs, sources, markets and distributes fine watches.
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