Movado Group (NYSE:MOV) Announces Earnings Results, Misses Expectations By $0.31 EPS

Movado Group (NYSE:MOV - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.31), Zacks reports. Movado Group had a return on equity of 5.38% and a net margin of 3.62%. The firm had revenue of $131.77 million for the quarter, compared to the consensus estimate of $142.11 million.

Movado Group Trading Down 0.1%

NYSE:MOV traded down $0.01 on Friday, hitting $16.20. The company had a trading volume of 222,578 shares, compared to its average volume of 209,878. The stock has a market capitalization of $360.24 million, a price-to-earnings ratio of 15.58 and a beta of 1.17. The firm has a 50 day moving average of $15.28 and a two-hundred day moving average of $18.02. Movado Group has a 52 week low of $12.85 and a 52 week high of $26.96.

Movado Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 8.64%. The ex-dividend date is Thursday, June 12th. Movado Group's payout ratio is 160.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MOV. BWS Financial reaffirmed a "buy" rating and set a $31.50 price target on shares of Movado Group in a report on Monday, April 21st. Wall Street Zen downgraded shares of Movado Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 30th.

Hedge Funds Weigh In On Movado Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its holdings in Movado Group by 4.1% in the first quarter. Royal Bank of Canada now owns 26,524 shares of the company's stock valued at $444,000 after acquiring an additional 1,042 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Movado Group by 11.4% in the first quarter. Jane Street Group LLC now owns 104,188 shares of the company's stock valued at $1,742,000 after purchasing an additional 10,670 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Movado Group by 5.5% in the first quarter. Empowered Funds LLC now owns 108,377 shares of the company's stock valued at $1,812,000 after purchasing an additional 5,697 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Movado Group by 26.5% in the first quarter. AQR Capital Management LLC now owns 129,746 shares of the company's stock valued at $2,169,000 after purchasing an additional 27,182 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Movado Group by 212.8% in the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company's stock valued at $11,226,000 after purchasing an additional 456,727 shares in the last quarter. 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.