Movado Group (NYSE:MOV) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Movado Group Inc. (NYSE:MOV)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $21.33 and traded as high as $24.57. Movado Group shares last traded at $24.2750, with a volume of 157,190 shares trading hands.

Wall Street Analysts Forecast Growth

MOV has been the topic of several analyst reports. Wall Street Zen upgraded shares of Movado Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. BWS Financial reiterated a “buy” rating and set a $31.50 price target on shares of Movado Group in a report on Friday, March 20th. Northland Securities assumed coverage on shares of Movado Group in a research report on Wednesday, January 7th. They set an “outperform” rating and a $30.00 price target for the company. Zacks Research upgraded shares of Movado Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Movado Group in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Movado Group Stock Performance

The firm has a market cap of $535.99 million, a PE ratio of 20.93 and a beta of 0.92. The stock has a 50-day simple moving average of $24.01 and a two-hundred day simple moving average of $21.33.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Movado Group had a net margin of 3.96% and a return on equity of 6.09%. The firm had revenue of $191.58 million for the quarter, compared to the consensus estimate of $182.02 million. As a group, sell-side analysts anticipate that Movado Group Inc. will post 1.05 EPS for the current fiscal year.

Movado Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 2nd will be issued a $0.35 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $1.40 annualized dividend and a yield of 5.8%. Movado Group’s dividend payout ratio (DPR) is currently 120.69%.

Institutional Investors Weigh In On Movado Group

A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Movado Group by 39.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock valued at $33,000 after buying an additional 449 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Movado Group by 70.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock worth $36,000 after acquiring an additional 724 shares during the period. Comerica Bank grew its holdings in shares of Movado Group by 99.0% in the third quarter. Comerica Bank now owns 1,785 shares of the company’s stock worth $34,000 after acquiring an additional 888 shares during the period. Laurel Wealth Advisors LLC purchased a new stake in Movado Group during the fourth quarter valued at $42,000. Finally, State of Wyoming purchased a new stake in Movado Group during the second quarter valued at $40,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

Movado Group Company Profile

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.