Zacks Research Downgrades Movado Group (NYSE:MOV) to Strong Sell

Key Points

• Movado Group has been downgraded from a "hold" rating to a "strong sell" rating by Zacks Research, indicating a negative outlook on the stock.
• Despite this downgrade, Wall Street Zen recently upgraded the stock to a "hold" rating, while BWS Financial maintained a "buy" rating with a target price of $31.50.
• Movado Group's latest earnings report showed a net loss compared to analyst expectations, reporting $0.23 EPS against a consensus estimate of $0.31.

Zacks Research cut shares of Movado Group (NYSE:MOV - Free Report) from a hold rating to a strong sell rating in a report released on Tuesday morning,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. BWS Financial restated a "buy" rating and set a $31.50 price objective on shares of Movado Group in a research note on Friday, August 29th. Wall Street Zen upgraded shares of Movado Group from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $31.50.

Movado Group Trading Up 0.8%

Shares of Movado Group stock traded up $0.15 during trading hours on Tuesday, reaching $19.45. 354,013 shares of the company's stock were exchanged, compared to its average volume of 150,798. The company has a 50 day moving average of $16.61 and a two-hundred day moving average of $16.32. Movado Group has a fifty-two week low of $12.85 and a fifty-two week high of $22.20. The stock has a market cap of $432.55 million, a P/E ratio of 25.26 and a beta of 1.24.

Movado Group (NYSE:MOV - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.08). Movado Group had a return on equity of 5.45% and a net margin of 2.66%.The business had revenue of $161.83 million for the quarter, compared to analyst estimates of $156.84 million. As a group, analysts expect that Movado Group will post 1.05 earnings per share for the current fiscal year.

Movado Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Monday, September 8th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, September 8th. This represents a $1.40 annualized dividend and a yield of 7.2%. Movado Group's dividend payout ratio (DPR) is 181.82%.

Institutional Investors Weigh In On Movado Group

Several hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC lifted its position in Movado Group by 41.1% during the second quarter. Squarepoint Ops LLC now owns 59,496 shares of the company's stock worth $907,000 after acquiring an additional 17,337 shares during the last quarter. State of Wyoming bought a new position in shares of Movado Group during the second quarter worth approximately $40,000. Tidal Investments LLC increased its holdings in shares of Movado Group by 33.0% during the second quarter. Tidal Investments LLC now owns 28,405 shares of the company's stock worth $433,000 after purchasing an additional 7,049 shares during the period. Lazard Asset Management LLC bought a new position in shares of Movado Group during the second quarter worth approximately $707,000. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Movado Group by 7.3% during the second quarter. Bridgeway Capital Management LLC now owns 270,757 shares of the company's stock worth $4,129,000 after purchasing an additional 18,327 shares during the period. 72.08% of the stock is currently 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.