Movado Group, Inc (NYSE:MOV) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.40-1.55 for the period, compared to the Thomson Reuters consensus estimate of $1.43. The company issued revenue guidance of $515-530 million, compared to the consensus revenue estimate of $520.27 million.

A number of analysts recently commented on the company. Zacks Investment Research raised Movado Group from a sell rating to a hold rating in a research note on Tuesday. Sidoti raised Movado Group from a neutral rating to a buy rating and set a $34.00 price objective on the stock in a research note on Monday, January 30th. Cowen and Company decreased their price objective on Movado Group from $27.00 to $25.00 and set a market perform rating on the stock in a research note on Monday, March 20th. Finally, TheStreet lowered Movado Group from a b- rating to a c+ rating in a research note on Friday, March 10th.

Earnings History and Estimates for Movado Group (NYSE:MOV)

Shares of Movado Group, Inc (NYSE:MOV) opened at 22.40 on Thursday. The company’s 50 day moving average price is $23.24 and its 200-day moving average price is $25.63. Movado Group, Inc has a 1-year low of $19.14 and a 1-year high of $31.95. The firm has a market cap of $514.10 million, a price-to-earnings ratio of 14.83 and a beta of 0.47.

Movado Group (NYSE:MOV) last announced its earnings results on Thursday, May 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by $0.09. The company had revenue of $99.30 million for the quarter, compared to analyst estimates of $100.23 million. Movado Group had a return on equity of 8.97% and a net margin of 6.67%. The firm’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share. Equities analysts expect that Movado Group, Inc will post $1.43 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Tuesday, June 6th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.32%. Movado Group’s dividend payout ratio (DPR) is presently 32.10%.

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Several large investors have recently made changes to their positions in MOV. Bank of America Corp DE raised its position in Movado Group by 81.4% in the first quarter. Bank of America Corp DE now owns 26,348 shares of the company’s stock valued at $657,000 after buying an additional 11,825 shares during the last quarter. Renaissance Technologies LLC raised its position in Movado Group by 218.0% in the first quarter. Renaissance Technologies LLC now owns 91,900 shares of the company’s stock valued at $2,293,000 after buying an additional 63,000 shares during the last quarter. Vanguard Group Inc. raised its position in Movado Group by 4.5% in the first quarter. Vanguard Group Inc. now owns 1,557,766 shares of the company’s stock valued at $38,866,000 after buying an additional 67,655 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Movado Group by 2.9% in the first quarter. Teachers Advisors LLC now owns 35,947 shares of the company’s stock valued at $897,000 after buying an additional 1,011 shares during the last quarter. 63.35% of the stock is currently owned by institutional investors.

Movado Group Company Profile

Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.

12 Month Chart for NYSE:MOV

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