Movado Group (NYSE:MOV) Issues Earnings Results, Beats Expectations By $0.12 EPS

Movado Group (NYSE:MOV) posted its quarterly earnings results on Wednesday. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.12, Zacks reports. Movado Group had a net margin of 3.62% and a return on equity of 5.38%.

Movado Group Trading Down 4.3 %

Shares of Movado Group stock opened at $13.04 on Wednesday. The stock has a market capitalization of $288.74 million, a price-to-earnings ratio of 12.54 and a beta of 0.92. Movado Group has a 1-year low of $12.85 and a 1-year high of $27.80. The firm has a fifty day simple moving average of $17.59 and a 200-day simple moving average of $18.86.

Movado Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $1.40 annualized dividend and a dividend yield of 10.74%. Movado Group’s dividend payout ratio (DPR) is presently 134.62%.

Analysts Set New Price Targets

Several equities research analysts recently commented on MOV shares. StockNews.com downgraded shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. BWS Financial initiated coverage on Movado Group in a report on Thursday, January 2nd. They issued a “buy” rating and a $31.50 target price for the company.

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.