Movado Group (NYSE:MOV) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Movado Group's stock recently crossed above its 200-day moving average of $16.45, reaching a high of $17.55 before closing at $17.32, with a trading volume of 227,546 shares.
• Analysts have upgraded MOV shares, with Wall Street Zen moving their rating from "sell" to "hold," while BWS Financial set a price target of $31.50 with a "buy" rating.
• The company reported disappointing quarterly earnings, with EPS of $0.08, significantly missing market expectations of $0.39, and revenues of $131.77 million below the projected $142.11 million.

Movado Group Inc. (NYSE:MOV - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $16.45 and traded as high as $17.55. Movado Group shares last traded at $17.32, with a volume of 227,546 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on MOV shares. Wall Street Zen upgraded shares of Movado Group from a "sell" rating to a "hold" rating in a report on Friday, June 27th. BWS Financial restated a "buy" rating and issued a $31.50 price objective on shares of Movado Group in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Movado Group currently has an average rating of "Buy" and an average price target of $31.50.

Movado Group Price Performance

The company has a market capitalization of $385.08 million, a PE ratio of 21.65 and a beta of 1.24. The stock's 50 day simple moving average is $16.02 and its 200-day simple moving average is $16.45.

Movado Group (NYSE:MOV - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.31). The business had revenue of $131.77 million for the quarter, compared to analysts' expectations of $142.11 million. Movado Group had a return on equity of 5.10% and a net margin of 2.78%. On average, equities analysts predict that Movado Group Inc. will post 1.05 earnings per share for the current year.

Movado Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.1%. Movado Group's payout ratio is currently 175.00%.

Hedge Funds Weigh In On Movado Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG grew its position in shares of Movado Group by 0.8% during the first quarter. Deutsche Bank AG now owns 92,226 shares of the company's stock worth $1,542,000 after buying an additional 726 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in shares of Movado Group by 1.7% during the first quarter. Linden Thomas Advisory Services LLC now owns 47,681 shares of the company's stock worth $797,000 after buying an additional 784 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Movado Group by 3.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,395 shares of the company's stock worth $500,000 after buying an additional 848 shares in the last quarter. CWM LLC grew its position in shares of Movado Group by 49.9% during the second quarter. CWM LLC now owns 2,588 shares of the company's stock worth $39,000 after buying an additional 862 shares in the last quarter. Finally, Royal Bank of Canada grew 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 buying an additional 1,042 shares in the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

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.

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