KeyCorp Research Analysts Increase Earnings Estimates for Movado Group, Inc (MOV)
Movado Group, Inc (NYSE:MOV) – Equities research analysts at KeyCorp lifted their Q4 2019 earnings per share (EPS) estimates for shares of Movado Group in a report issued on Wednesday. KeyCorp analyst E. Yruma now anticipates that the company will post earnings of $0.31 per share for the quarter, up from their previous estimate of $0.30.
A number of other brokerages also recently issued reports on MOV. Zacks Investment Research downgraded Movado Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. ValuEngine raised Movado Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Movado Group has a consensus rating of “Hold” and a consensus price target of $28.50.
Movado Group (NYSE:MOV) last announced its quarterly earnings data on Tuesday, November 21st. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. The company had revenue of $190.69 million for the quarter, compared to the consensus estimate of $176.33 million. Movado Group had a return on equity of 8.34% and a net margin of 4.35%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS.
A number of institutional investors have recently modified their holdings of MOV. PNC Financial Services Group Inc. increased its position in Movado Group by 1.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,855 shares of the company’s stock valued at $122,000 after buying an additional 78 shares in the last quarter. Northern Trust Corp increased its position in Movado Group by 31.5% in the 2nd quarter. Northern Trust Corp now owns 400,216 shares of the company’s stock valued at $10,105,000 after buying an additional 95,967 shares in the last quarter. FMR LLC increased its position in Movado Group by 62.5% in the 2nd quarter. FMR LLC now owns 588,709 shares of the company’s stock valued at $14,865,000 after buying an additional 226,510 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Movado Group by 10.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 48,548 shares of the company’s stock valued at $1,226,000 after buying an additional 4,760 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in Movado Group by 4.3% in the 2nd quarter. Voya Investment Management LLC now owns 35,217 shares of the company’s stock valued at $889,000 after buying an additional 1,453 shares in the last quarter. 63.50% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Sallie A. Demarsilis sold 5,401 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $28.44, for a total value of $153,604.44. Following the completion of the sale, the chief financial officer now directly owns 31,978 shares of the company’s stock, valued at approximately $909,454.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Cote sold 1,600 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $33.46, for a total value of $53,536.00. Following the completion of the sale, the director now directly owns 395,296 shares of the company’s stock, valued at $13,226,604.16. The disclosure for this sale can be found here. Insiders sold a total of 15,751 shares of company stock valued at $485,837 over the last ninety days. 33.30% of the stock is currently owned by corporate insiders.
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About Movado Group
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.
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