Movado Group, Inc. designs, sources, markets, and distributes watches worldwide. The company operates in two segments, Watch and Accessory Brands, and Company Stores. It offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands, such as Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, Calvin Klein, and Scuderia Ferrari. The company also provides after-sales and shipping services. Its customers include jewelry store chains, department stores, independent regional jewelers, network of independent distributors, online marketplaces, licensors' retail stores, and third-party e-commerce retailers. The company also sells directly to consumers through its e-commerce platforms. As of January 31, 2022, it operated 51 retail outlet locations. The company was formerly known as North American Watch Corporation and changed its name to Movado Group, Inc. in 1996. Movado Group, Inc. was founded in 1961 and is based in Paramus, New Jersey.
Movado Group Stock Performance
Shares of Movado Group stock traded down $0.22 on Friday, reaching $35.92. 92,885 shares of the stock were exchanged, compared to its average volume of 103,185. The firm's 50 day moving average is $33.20 and its 200-day moving average is $35.64. Movado Group has a one year low of $29.79 and a one year high of $48.66. The firm has a market cap of $810.36 million, a PE ratio of 8.41 and a beta of 1.15.
Movado Group (NYSE:MOV - Get Rating) last issued its quarterly earnings results on Thursday, May 26th. The company reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.36. Movado Group had a net margin of 13.23% and a return on equity of 22.38%. The company had revenue of $163.42 million during the quarter. During the same period last year, the company posted $0.43 EPS. On average, equities research analysts expect that Movado Group will post 4.08 EPS for the current fiscal year.
Movado Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Stockholders of record on Wednesday, June 8th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Tuesday, June 7th. Movado Group's dividend payout ratio (DPR) is presently 32.79%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com raised shares of Movado Group from a "buy" rating to a "strong-buy" rating in a report on Thursday, July 21st.