Movado Group (NYSE:MOV) Issues Earnings Results, Beats Estimates By $0.19 EPS

Movado Group (NYSE:MOV) released its quarterly earnings results on Wednesday. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.19, FiscalAI reports. Movado Group had a return on equity of 7.13% and a net margin of 4.70%.The business had revenue of $169.75 million during the quarter, compared to analysts’ expectations of $164.20 million.

Movado Group Stock Performance

NYSE MOV opened at $35.02 on Wednesday. The company has a market cap of $773.29 million, a P/E ratio of 25.02 and a beta of 0.97. The business’s 50 day moving average price is $37.55 and its 200-day moving average price is $31.06. Movado Group has a fifty-two week low of $16.75 and a fifty-two week high of $40.50.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MOV. BWS Financial reiterated a “buy” rating and set a $45.00 target price on shares of Movado Group in a research report on Monday, July 27th. Weiss Ratings downgraded shares of Movado Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 28th. Northland Securities set a $35.00 price objective on shares of Movado Group in a research report on Wednesday, May 27th. Finally, Zacks Research raised shares of Movado Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $40.00.

Institutional Trading of Movado Group

Institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in Movado Group by 39.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock worth $33,000 after purchasing an additional 449 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Movado Group by 70.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock valued at $36,000 after acquiring an additional 724 shares during the period. Comerica Bank increased its stake 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. State of Wyoming lifted its position in Movado Group by 23.5% during the fourth quarter. State of Wyoming now owns 5,443 shares of the company’s stock valued at $112,000 after purchasing an additional 1,036 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Movado Group by 4.1% in the first quarter. Royal Bank of Canada now owns 26,524 shares of the company’s stock valued at $444,000 after purchasing an additional 1,042 shares during the last quarter. 72.08% of the stock is currently owned by 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.