Movado Group Inc. (MOV) Stock Price Up 3.4%
Shares of Movado Group Inc. (NYSE:MOV) rose 3.4% during trading on Thursday . The stock traded as high as $24.62 and last traded at $24.18, with a volume of 222,810 shares traded. The stock had previously closed at $23.39.
MOV has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Movado Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Cowen and Company restated a “hold” rating on shares of Movado Group in a research note on Sunday, May 29th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $29.00.
The company’s 50 day moving average is $22.58 and its 200 day moving average is $25.14. The company has a market capitalization of $556.36 million and a PE ratio of 12.68.
Movado Group (NYSE:MOV) last posted its quarterly earnings results on Thursday, May 26th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. The company earned $114.10 million during the quarter, compared to analyst estimates of $115.59 million. The company’s revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. On average, equities analysts forecast that Movado Group Inc. will post $1.63 EPS for the current fiscal year.
In related news, CEO Efraim Grinberg purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 10th. The shares were purchased at an average cost of $19.62 per share, with a total value of $98,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 102,144 shares of the company’s stock, valued at approximately $2,004,065.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Movado Group, Inc (Movado Group) is engaged in designing, sourcing, marketing and distributing watches. The Company operates through two business segments: Wholesale and Retail. The Company’s Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping.
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