Movado Group (NYSE:MOV) posted its earnings results on Tuesday. The company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.35, MarketWatch Earnings reports. Movado Group had a net margin of 11.25% and a return on equity of 15.73%. During the same quarter in the previous year, the firm earned $0.70 EPS. Movado Group updated its FY 2022 guidance to $3.350-$3.450 EPS.
Shares of Movado Group stock opened at $44.58 on Wednesday. Movado Group has a twelve month low of $16.01 and a twelve month high of $44.92. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 14.20 and a beta of 1.29. The company’s fifty day moving average is $34.63 and its 200 day moving average is $32.34.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 22nd. Investors of record on Wednesday, September 8th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.79%. Movado Group’s dividend payout ratio is 25.48%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its holdings in shares of Movado Group by 11.6% in the 3rd quarter. Morgan Stanley now owns 186,140 shares of the company’s stock worth $5,861,000 after acquiring an additional 19,358 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Movado Group by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 170,228 shares of the company’s stock worth $5,360,000 after acquiring an additional 865 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Movado Group by 85.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 22,407 shares of the company’s stock worth $706,000 after acquiring an additional 10,325 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Movado Group by 4.3% in the 3rd quarter. Royal Bank of Canada now owns 18,229 shares of the company’s stock worth $574,000 after acquiring an additional 752 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Movado Group in the 3rd quarter worth about $239,000. Hedge funds and other institutional investors own 63.11% of the company’s stock.
A number of analysts have weighed in on MOV shares. TheStreet raised shares of Movado Group from a “c” rating to a “b-” rating in a research note on Thursday, August 26th. Zacks Investment Research cut shares of Movado Group from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 28th.
Movado Group Company Profile
Movado Group, Inc engages in the design, manufacture, and distribution of watches. It operates through Watch and Accessory Brands and Company Stores segments. The Watch and Accessory Brands segment include distribution of watches and, to a lesser extent, jewelry and other accessories, of owned and licensed brands, in addition to revenue generated from after-sales service activities and shipping.
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