Movado Group Inc. (MOV) Shares Up 3.4%
Movado Group Inc. (NYSE:MOV) shot up 3.4% during trading on Thursday . The company traded as high as $24.62 and last traded at $24.18, with a volume of 222,810 shares changing hands. The stock had previously closed at $23.39.
A number of research firms have commented on MOV. Zacks Investment Research raised Movado Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Cowen and Company reissued a “hold” rating on shares of Movado Group in a report on Sunday, May 29th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $29.00.
The stock has a market capitalization of $566.02 million and a PE ratio of 12.90. The firm’s 50-day moving average price is $22.66 and its 200 day moving average price is $25.14.
Movado Group (NYSE:MOV) last announced its quarterly earnings data on Thursday, May 26th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. During the same period last year, the firm earned $0.25 earnings per share. The company had revenue of $114.10 million for the quarter, compared to analysts’ expectations of $115.59 million. Movado Group’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities research analysts forecast that Movado Group Inc. will post $1.63 EPS for the current year.
In other Movado Group news, CEO Efraim Grinberg purchased 5,000 shares of the stock in a transaction on Friday, June 10th. The shares were bought 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 owns 102,144 shares in the company, valued at $2,004,065.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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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