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

Key Points

• Movado Group Inc. has announced a quarterly dividend of $0.35 per share, with stockholders of record set to receive the payment on September 22nd.
• The company's recent quarterly earnings showed an EPS of $0.23, which fell short of analysts' expectations of $0.57.
• Analysts have a consensus rating of "Buy" for Movado Group, with a target price of $31.50, signifying potential growth for the stock.

Movado Group Inc. (NYSE:MOV - Get Free Report) announced a quarterly dividend on Thursday, August 28th, RTT News reports. Stockholders of record on Monday, September 8th will be paid a dividend of 0.35 per share on Monday, September 22nd. This represents a c) annualized dividend and a dividend yield of 8.0%.

Movado Group Price Performance

Movado Group stock opened at $17.49 on Thursday. Movado Group has a 1-year low of $12.85 and a 1-year high of $24.67. The business has a fifty day moving average price of $16.14 and a 200-day moving average price of $16.40. The stock has a market capitalization of $389.04 million, a price-to-earnings ratio of 21.87 and a beta of 1.24.

Movado Group (NYSE:MOV - Get Free Report) last released its quarterly earnings results on Thursday, August 28th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.34). Movado Group had a net margin of 2.78% and a return on equity of 5.10%. On average, equities research analysts anticipate that Movado Group will post 1.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MOV shares. Wall Street Zen upgraded shares of Movado Group from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. BWS Financial reaffirmed a "buy" rating and issued a $31.50 price target on shares of Movado Group in a report on Monday, June 2nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $31.50.

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.

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