Movado Group, Inc. Plans Quarterly Dividend of $0.35 (NYSE:MOV)

Movado Group, Inc. (NYSE:MOV) declared a quarterly dividend on Thursday, May 30th, Zacks reports. Investors of record on Wednesday, June 12th will be paid a dividend of 0.35 per share on Wednesday, June 26th. This represents a $1.40 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date is Wednesday, June 12th.

Movado Group has a dividend payout ratio of 36.1% indicating that its dividend is sufficiently covered by earnings.

Movado Group Price Performance

Shares of Movado Group stock opened at $25.44 on Tuesday. The stock has a market cap of $565.02 million, a price-to-earnings ratio of 14.21 and a beta of 1.05. The firm’s 50-day moving average is $26.45 and its 200 day moving average is $27.69. Movado Group has a 1 year low of $23.94 and a 1 year high of $31.44.

Movado Group (NYSE:MOV) last posted its earnings results on Tuesday, March 26th. The company reported $0.55 earnings per share (EPS) for the quarter. The business had revenue of $179.62 million for the quarter. Movado Group had a net margin of 6.09% and a return on equity of 8.18%. On average, equities analysts expect that Movado Group will post 1.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Benchmark restated a “buy” rating and set a $41.00 target price on shares of Movado Group in a research note on Friday, May 31st.

Movado Group Company Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.