Movado Group (NYSE:MOV) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

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)'s share price crossed 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.

Wall Street Analysts Forecast Growth

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

Movado Group Stock Performance

The company has a 50 day moving average price of $16.14 and a 200-day moving average price of $16.40. The company has a market cap of $389.64 million, a P/E ratio of 21.84 and a beta of 1.24.

Movado Group (NYSE:MOV - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.31). Movado Group had a net margin of 2.78% and a return on equity of 5.10%. The firm had revenue of $131.77 million for the quarter, compared to analyst estimates of $142.11 million. Equities analysts expect that Movado Group Inc. will post 1.05 earnings per share for the current year.

Movado Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Monday, September 8th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 8.0%. Movado Group's dividend payout ratio (DPR) is 175.00%.

Institutional Investors Weigh In On Movado Group

Several hedge funds have recently modified their holdings of MOV. Goldman Sachs Group Inc. boosted its holdings in shares of Movado Group by 212.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company's stock valued at $11,226,000 after acquiring an additional 456,727 shares in the last quarter. Brandes Investment Partners LP acquired a new stake in shares of Movado Group during the 2nd quarter valued at $5,540,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Movado Group by 174.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 307,790 shares of the company's stock valued at $6,057,000 after acquiring an additional 195,465 shares in the last quarter. Numerai GP LLC acquired a new stake in shares of Movado Group during the 4th quarter valued at $3,186,000. Finally, Royce & Associates LP boosted its holdings in shares of Movado Group by 10.3% during the 1st quarter. Royce & Associates LP now owns 1,628,031 shares of the company's stock valued at $27,221,000 after acquiring an additional 152,677 shares in the last quarter. Institutional investors and hedge funds 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.