Movado Group (NYSE:MOV) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Movado Group shares jumped above their 200-day moving average, trading as high as $39.26 before last changing hands at $38.67. The move comes after the stock recently traded below that long-term trend line of $28.24.
• Analysts are broadly positive on the stock, with a consensus rating of “Buy” and an average price target of $40.00. Recent actions included an upgrade from Zacks Research and a higher target from BWS Financial to $45.00.
• The company posted better-than-expected quarterly results and raised its dividend, reporting EPS of $0.32 versus estimates of $0.06 and revenue of $142.4 million. Movado also increased its quarterly dividend to $0.40 per share, boosting the annualized yield to 4.1%.

Movado Group Inc. (NYSE:MOV - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.24 and traded as high as $39.26. Movado Group shares last traded at $38.67, with a volume of 221,329 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MOV shares. Northland Securities set a $35.00 price target on shares of Movado Group in a research report on Wednesday, May 27th. Zacks Research upgraded Movado Group from a "hold" rating to a "strong-buy" rating in a report on Friday, May 29th. Weiss Ratings cut Movado Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 28th. Finally, BWS Financial lifted their price target on Movado Group from $31.50 to $45.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Two equities 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 presently has an average rating of "Buy" and a consensus price target of $40.00.

Movado Group Trading Down 2.8%

The business's 50-day simple moving average is $35.31 and its 200-day simple moving average is $28.24. The company has a market cap of $853.83 million, a PE ratio of 27.62 and a beta of 0.96.

Movado Group (NYSE:MOV - Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.26. The business had revenue of $142.40 million for the quarter, compared to the consensus estimate of $135.12 million. Movado Group had a net margin of 4.70% and a return on equity of 7.13%. During the same period in the prior year, the business posted $0.06 earnings per share. On average, research analysts predict that Movado Group Inc. will post 1.83 earnings per share for the current fiscal year.

Movado Group Increases Dividend

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

Institutional Investors Weigh In On Movado Group

Several institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in Movado Group by 39.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company's stock worth $33,000 after buying an additional 449 shares during the last quarter. Comerica Bank lifted its stake in Movado Group by 99.0% in the third quarter. Comerica Bank now owns 1,785 shares of the company's stock valued at $34,000 after acquiring an additional 888 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Movado Group by 70.2% in 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 in the last quarter. Fifth Third Bancorp grew its position in Movado Group by 16,040.0% in the first quarter. Fifth Third Bancorp now owns 1,614 shares of the company's stock worth $39,000 after acquiring an additional 1,604 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Movado Group during the 2nd quarter worth $40,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.

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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