Movado Group’s (MOV) Buy Rating Reiterated at BWS Financial

BWS Financial reaffirmed their buy rating on shares of Movado Group (NYSE:MOV) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $45.00 price objective on the stock.

A number of other research firms have also recently commented on MOV. Northland Securities set a $35.00 price objective on Movado Group in a research report on Wednesday, May 27th. Zacks Research upgraded Movado Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Movado Group in a research note on Tuesday, August 25th. Finally, Wall Street Zen lowered shares of Movado Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Movado Group has an average rating of “Buy” and a consensus target price of $40.00.

Movado Group Stock Down 0.4%

NYSE:MOV opened at $33.56 on Tuesday. Movado Group has a 52 week low of $17.24 and a 52 week high of $40.50. The stock’s 50-day moving average price is $36.97 and its 200-day moving average price is $31.54. The stock has a market capitalization of $741.00 million, a PE ratio of 18.64 and a beta of 0.92.

Movado Group (NYSE:MOV) last released its quarterly earnings results on Wednesday, August 26th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.19. The company had revenue of $169.75 million during the quarter, compared to analysts’ expectations of $164.20 million. Movado Group had a return on equity of 8.49% and a net margin of 6.00%. Sell-side analysts expect that Movado Group will post 1.94 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, September 8th. Movado Group’s payout ratio is presently 88.89%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOV. California State Teachers Retirement System boosted its stake in Movado Group by 906.6% during the 2nd quarter. California State Teachers Retirement System now owns 8,294 shares of the company’s stock worth $326,000 after purchasing an additional 7,470 shares during the last quarter. BTG Pactual Asset Management US LLC acquired a new stake in shares of Movado Group in the second quarter valued at about $264,000. Hsbc Holdings PLC lifted its stake in shares of Movado Group by 87.4% in the second quarter. Hsbc Holdings PLC now owns 16,759 shares of the company’s stock worth $657,000 after buying an additional 7,814 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Movado Group in the second quarter worth about $4,063,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Movado Group in the second quarter worth about $1,032,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

About Movado Group

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.