Movado Group (NYSE:MOV) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Key Points

• Movado's share price moved above its 200-day moving average of $22.36, trading as high as $27.70 and last at $27.36 on the session reported (volume ~111,839 shares).
• Wall Street consensus is a Moderate Buy with a $30.75 average price target, following recent analyst actions ranging from Strong Buy/Outperform to Hold.
• The company beat quarterly estimates (EPS $0.57 vs. $0.52; revenue $191.6M vs. $182.0M) and pays a $0.35 quarterly dividend (about a 5.1% yield), but the payout ratio is ~120.7%, which raises sustainability concerns.

Movado Group Inc. (NYSE:MOV - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.36 and traded as high as $27.70. Movado Group shares last traded at $27.36, with a volume of 111,839 shares traded.

Wall Street Analyst Weigh In

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

Movado Group Trading Down 1.3%

The firm has a market cap of $604.11 million, a PE ratio of 23.59 and a beta of 0.85. The firm has a fifty day simple moving average of $25.20 and a two-hundred day simple moving average of $22.36.

Movado Group (NYSE:MOV - Get Free Report) last posted its earnings results on Thursday, March 19th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. The firm had revenue of $191.58 million for the quarter, compared to analysts' expectations of $182.02 million. Movado Group had a return on equity of 6.09% and a net margin of 3.96%. Equities analysts expect that Movado Group Inc. will post 1.53 earnings per share for the current fiscal year.

Movado Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd were issued a $0.35 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $1.40 annualized dividend and a yield of 5.1%. Movado Group's dividend payout ratio is 120.69%.

Institutional Investors Weigh In On Movado Group

Large investors have recently modified their holdings of the stock. Strs Ohio lifted its holdings in Movado Group by 671.9% in the first quarter. Strs Ohio now owns 24,700 shares of the company's stock worth $603,000 after buying an additional 21,500 shares during the period. MQS Management LLC purchased a new position in shares of Movado Group during the 1st quarter worth approximately $243,000. North Star Investment Management Corp. grew its holdings in shares of Movado Group by 39.4% during the 1st quarter. North Star Investment Management Corp. now owns 131,025 shares of the company's stock worth $3,200,000 after acquiring an additional 37,000 shares during the period. Ritholtz Wealth Management bought a new position in shares of Movado Group in the 1st quarter worth approximately $797,000. Finally, Invesco Ltd. raised its position in shares of Movado Group by 4.8% in the 4th quarter. Invesco Ltd. now owns 37,133 shares of the company's stock worth $766,000 after acquiring an additional 1,699 shares in the last quarter. Institutional investors 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.

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