Movado Group (NYSE:MOV) Cut to “Sell (D+)” at Weiss Ratings

Weiss Ratings downgraded shares of Movado Group (NYSE:MOV) from a hold (c-) rating to a sell (d+) rating in a research note published on Saturday morning,Weiss Ratings reports.

Other research analysts have also recently issued reports about the company. BWS Financial reissued a “buy” rating and set a $31.50 price objective on shares of Movado Group in a report on Friday, August 29th. Wall Street Zen raised Movado Group from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Finally, Zacks Research cut Movado Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $31.50.

Movado Group Stock Performance

Shares of NYSE MOV opened at $18.37 on Friday. The stock has a market cap of $406.60 million, a PE ratio of 23.85 and a beta of 1.22. The business has a fifty day moving average of $18.63 and a two-hundred day moving average of $16.68. Movado Group has a 52-week low of $12.85 and a 52-week high of $22.20.

Movado Group (NYSE:MOV) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.08). The company had revenue of $161.83 million for the quarter, compared to the consensus estimate of $156.84 million. Movado Group had a net margin of 2.66% and a return on equity of 5.45%. Analysts predict that Movado Group will post 1.05 earnings per share for the current year.

Movado Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Monday, September 8th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $1.40 dividend on an annualized basis and a yield of 7.6%. Movado Group’s dividend payout ratio is 181.82%.

Institutional Investors Weigh In On Movado Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Coppell Advisory Solutions LLC raised its stake in Movado Group by 14,191.7% in the 1st quarter. Coppell Advisory Solutions LLC now owns 1,715 shares of the company’s stock valued at $29,000 after acquiring an additional 1,703 shares during the period. CWM LLC grew its holdings in shares of Movado Group by 49.9% during the 2nd quarter. CWM LLC now owns 2,588 shares of the company’s stock worth $39,000 after purchasing an additional 862 shares in the last quarter. State of Wyoming acquired a new stake in shares of Movado Group during the 2nd quarter worth $40,000. Harbor Capital Advisors Inc. grew its holdings in shares of Movado Group by 20.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 4,655 shares of the company’s stock worth $88,000 after purchasing an additional 790 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Movado Group during the 2nd quarter worth $173,000. Institutional investors own 72.08% of the company’s stock.

About Movado Group

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.