Movado Group (NYSE:MOV) Sets New 52-Week High – Time to Buy?

Shares of Movado Group Inc. (NYSE:MOV) hit a new 52-week high on Tuesday . The company traded as high as $27.03 and last traded at $27.0050, with a volume of 10589 shares. The stock had previously closed at $26.78.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Northland Securities assumed coverage on Movado Group in a report on Wednesday, January 7th. They set an “outperform” rating and a $30.00 price objective on the stock. BWS Financial reissued a “buy” rating and issued a $31.50 target price on shares of Movado Group in a report on Friday, March 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Movado Group in a report on Monday, December 29th. Wall Street Zen raised Movado Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Finally, Zacks Research raised Movado Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

Movado Group Stock Up 0.6%

The company has a market cap of $594.78 million, a price-to-earnings ratio of 23.23 and a beta of 0.85. The company has a fifty day simple moving average of $24.51 and a two-hundred day simple moving average of $21.73.

Movado Group (NYSE:MOV) last posted its earnings results on Thursday, March 19th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.05. The company had revenue of $191.58 million for the quarter, compared to analyst estimates of $182.02 million. Movado Group had a return on equity of 6.09% and a net margin of 3.96%. On average, research analysts predict that Movado Group Inc. will post 1.05 EPS for the current year.

Movado Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Thursday, April 2nd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Thursday, April 2nd. Movado Group’s dividend payout ratio is currently 120.69%.

Institutional Trading of Movado Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Teton Advisors LLC purchased a new stake in shares of Movado Group in the third quarter valued at $1,178,000. Deprince Race & Zollo Inc. lifted its position in shares of Movado Group by 27.6% in the fourth quarter. Deprince Race & Zollo Inc. now owns 258,478 shares of the company’s stock valued at $5,330,000 after acquiring an additional 55,967 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Movado Group in the third quarter valued at $458,000. Versor Investments LP purchased a new stake in shares of Movado Group in the third quarter valued at $495,000. Finally, State of Wyoming lifted its position in shares of Movado Group by 23.5% in the fourth quarter. State of Wyoming now owns 5,443 shares of the company’s stock valued at $112,000 after acquiring an additional 1,036 shares in the last quarter. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

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.