Movado Group (NYSE:MOV) Hits New 1-Year High - Time to Buy?

Key Points

• Movado Group shares reached a new 52-week high of $39.87 and were recently trading near $39.62, up 1.1% during the session.
• Analyst sentiment is generally positive, with a consensus “Buy” rating and a $40 price target; individual targets range from $35 to $45.
• The company beat quarterly earnings and revenue expectations, while increasing its quarterly dividend to $0.40, equivalent to a 4.1% yield—though its 114.29% payout ratio exceeds reported earnings.

Movado Group Inc. (NYSE:MOV - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $39.87 and last traded at $39.6210, with a volume of 30220 shares traded. The stock had previously closed at $38.94.

Analyst Ratings Changes

MOV has been the subject of several recent analyst reports. Zacks Research raised shares of Movado Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 29th. Northland Securities set a $35.00 target price on shares of Movado Group in a research note on Wednesday, May 27th. Weiss Ratings downgraded shares of Movado Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 28th. Finally, BWS Financial reaffirmed a "buy" rating and issued a $45.00 price target on shares of Movado Group in a report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $40.00.

Movado Group Trading Up 1.1%

The stock has a market capitalization of $869.29 million, a P/E ratio of 28.17 and a beta of 0.97. The stock's fifty day moving average price is $37.60 and its two-hundred day moving average price is $29.54.

Movado Group (NYSE:MOV - Get Free Report) last issued its earnings results on Wednesday, May 27th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.26. The company had revenue of $142.40 million for the quarter, compared to analysts' expectations of $135.12 million. Movado Group had a net margin of 4.70% and a return on equity of 7.13%. During the same quarter last year, the company earned $0.06 EPS. As a group, analysts expect that Movado Group Inc. will post 1.87 earnings per share for the current fiscal year.

Movado Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 10th were issued a $0.40 dividend. This is an increase from Movado Group's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Wednesday, June 10th. Movado Group's dividend payout ratio (DPR) is presently 114.29%.

Institutional Investors Weigh In On Movado Group

Several institutional investors have recently bought and sold shares of MOV. Royal Bank of Canada increased its stake in Movado Group by 64.7% in the 1st quarter. Royal Bank of Canada now owns 18,892 shares of the company's stock worth $461,000 after purchasing an additional 7,423 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Movado Group by 24.9% during the first quarter. Quantinno Capital Management LP now owns 54,274 shares of the company's stock valued at $1,325,000 after purchasing an additional 10,821 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Movado Group by 120.8% during the first quarter. Lazard Asset Management LLC now owns 124,643 shares of the company's stock valued at $3,044,000 after purchasing an additional 68,201 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Movado Group by 125.6% during the first quarter. Renaissance Technologies LLC now owns 139,198 shares of the company's stock valued at $3,399,000 after purchasing an additional 77,500 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of Movado Group by 248.8% in the first quarter. Sei Investments Co. now owns 86,669 shares of the company's stock worth $2,116,000 after purchasing an additional 61,822 shares during 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.

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