Movado Group (NYSE:MOV) Releases Earnings Results, Misses Estimates By $0.31 EPS

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

Movado Group Price Performance

Shares of NYSE MOV traded up $0.17 during mid-day trading on Monday, hitting $16.37. 117,172 shares of the company's stock traded hands, compared to its average volume of 209,396. The company's 50-day moving average is $15.28 and its two-hundred day moving average is $18.00. The company has a market capitalization of $364.02 million, a P/E ratio of 15.74 and a beta of 1.17. Movado Group has a 1 year low of $12.85 and a 1 year high of $26.96.

Movado Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 8.55%. The ex-dividend date of this dividend is Thursday, June 12th. Movado Group's payout ratio is currently 160.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BWS Financial restated a "buy" rating and issued a $31.50 price objective on shares of Movado Group in a report on Monday. Wall Street Zen cut shares of Movado Group from a "buy" rating to a "hold" rating in a report on Wednesday, April 30th.

Hedge Funds Weigh In On Movado Group

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in shares of Movado Group by 212.8% during the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company's stock worth $11,226,000 after acquiring an additional 456,727 shares during the period. AQR Capital Management LLC increased its position in shares of Movado Group by 26.5% during the first quarter. AQR Capital Management LLC now owns 129,746 shares of the company's stock worth $2,169,000 after acquiring an additional 27,182 shares during the period. Jane Street Group LLC increased its position in shares of Movado Group by 11.4% during the first quarter. Jane Street Group LLC now owns 104,188 shares of the company's stock worth $1,742,000 after acquiring an additional 10,670 shares during the period. Empowered Funds LLC increased its position in shares of Movado Group by 5.5% during the first quarter. Empowered Funds LLC now owns 108,377 shares of the company's stock worth $1,812,000 after acquiring an additional 5,697 shares during the period. Finally, Royal Bank of Canada increased its position in shares of Movado Group by 4.1% during the first quarter. Royal Bank of Canada now owns 26,524 shares of the company's stock worth $444,000 after acquiring an additional 1,042 shares during the period. Hedge funds and other 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.