Wall Street Zen Downgrades Movado Group (NYSE:MOV) to Sell

Wall Street Zen cut shares of Movado Group (NYSE:MOV - Free Report) from a hold rating to a sell rating in a research report report published on Friday morning.

Separately, BWS Financial reiterated a "buy" rating and issued a $31.50 price target on shares of Movado Group in a report on Monday, June 2nd.

Movado Group Price Performance

Shares of Movado Group stock traded up $0.16 on Friday, hitting $15.62. The company had a trading volume of 186,718 shares, compared to its average volume of 211,172. The firm has a market capitalization of $347.34 million, a P/E ratio of 15.02 and a beta of 1.21. Movado Group has a twelve month low of $12.85 and a twelve month high of $26.59. The stock has a 50-day moving average of $15.15 and a 200-day moving average of $17.90.

Movado Group (NYSE:MOV - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $131.77 million during the quarter, compared to analyst estimates of $142.11 million. Movado Group had a net margin of 3.62% and a return on equity of 5.38%. Equities analysts predict that Movado Group will post 1.05 EPS for the current year.

Movado Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 8.96%. The ex-dividend date of this dividend is Thursday, June 12th. Movado Group's payout ratio is 175.00%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MOV. Goldman Sachs Group Inc. boosted its holdings in Movado Group by 212.8% during the first quarter. Goldman Sachs Group Inc. now owns 671,397 shares of the company's stock worth $11,226,000 after purchasing an additional 456,727 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Movado Group by 202.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 478,342 shares of the company's stock worth $9,414,000 after purchasing an additional 320,103 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Movado Group by 174.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 307,790 shares of the company's stock worth $6,057,000 after purchasing an additional 195,465 shares during the last quarter. Numerai GP LLC acquired a new position in Movado Group during the fourth quarter worth $3,186,000. Finally, Royce & Associates LP boosted its holdings in Movado Group by 10.3% during the first quarter. Royce & Associates LP now owns 1,628,031 shares of the company's stock worth $27,221,000 after purchasing an additional 152,677 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company's stock.

Movado Group Company Profile

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.