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

Key Points

• Movado Group hit a new 52-week high of $27.03 (last trade $27.0050) and has a market cap of about $594.8M, with 50- and 200-day moving averages at $24.51 and $21.73 respectively.
• The company beat quarterly expectations — $0.57 EPS vs. $0.52 expected and $191.6M revenue vs. $182.0M — and analysts maintain a "Moderate Buy" consensus with a $30.75 average price target.
• Movado offers a quarterly dividend of $0.35 (annualized yield ~5.2%), but the payout ratio is high (~120.7%), which raises questions about dividend sustainability.

Movado Group Inc. (NYSE:MOV - Get Free Report) 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 trading hands. The stock had previously closed at $26.78.

Analyst Ratings Changes

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

Movado Group Price Performance

The company has a 50 day moving average price of $24.51 and a 200 day moving average price of $21.73. The firm has a market cap of $594.78 million, a PE ratio of 23.23 and a beta of 0.85.

Movado Group (NYSE:MOV - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. Movado Group had a return on equity of 6.09% and a net margin of 3.96%.The business had revenue of $191.58 million during the quarter, compared to analysts' expectations of $182.02 million. On average, equities analysts anticipate that Movado Group Inc. will post 1.05 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Thursday, April 2nd will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Movado Group's dividend payout ratio is currently 120.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in Movado Group by 39.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company's stock worth $33,000 after acquiring an additional 449 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in Movado Group by 70.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company's stock worth $36,000 after acquiring an additional 724 shares during the period. CWM LLC grew its holdings in Movado Group by 28.2% during the third quarter. CWM LLC now owns 3,318 shares of the company's stock worth $63,000 after acquiring an additional 730 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Movado Group by 20.4% during the third quarter. Harbor Capital Advisors Inc. now owns 4,655 shares of the company's stock worth $88,000 after acquiring an additional 790 shares during the period. Finally, Comerica Bank grew its holdings in Movado Group by 99.0% during the third quarter. Comerica Bank now owns 1,785 shares of the company's stock worth $34,000 after acquiring an additional 888 shares during the period. Institutional investors and hedge funds own 72.08% of the company's stock.

Movado Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.