Movado Group (NYSE:MOV) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Movado Group Inc. (NYSE:MOV)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.18 and traded as high as $27.76. Movado Group shares last traded at $26.57, with a volume of 155,675 shares.

Analysts Set New Price Targets

MOV has been the topic of a number of research reports. Wall Street Zen upgraded Movado Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Zacks Research upgraded Movado Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Finally, BWS Financial restated a “buy” rating and issued a $31.50 target price on shares of Movado Group in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Movado Group Trading Up 2.7%

The stock has a market capitalization of $597.93 million, a price-to-earnings ratio of 23.35 and a beta of 0.86. The firm has a 50-day moving average of $25.92 and a 200 day moving average of $23.30.

Movado Group (NYSE:MOV) last posted its earnings results on Thursday, March 19th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.52 by $0.05. Movado Group had a return on equity of 6.09% and a net margin of 3.96%.The firm had revenue of $191.58 million for the quarter, compared to analysts’ expectations of $182.02 million. Equities research analysts predict that Movado Group Inc. will post 1.53 EPS for the current fiscal year.

Movado Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 16th. Shareholders of record on Thursday, April 2nd were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Thursday, April 2nd. Movado Group’s dividend payout ratio (DPR) is presently 120.69%.

Hedge Funds Weigh In On Movado Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOV. PNC Financial Services Group Inc. boosted its stake in Movado Group by 39.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,598 shares of the company’s stock valued at $33,000 after purchasing an additional 449 shares in the last quarter. Comerica Bank boosted its stake in Movado Group by 99.0% during the 3rd quarter. Comerica Bank now owns 1,785 shares of the company’s stock valued at $34,000 after purchasing an additional 888 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Movado Group by 70.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,756 shares of the company’s stock valued at $36,000 after purchasing an additional 724 shares in the last quarter. Fifth Third Bancorp boosted its stake in Movado Group by 16,040.0% during the 1st quarter. Fifth Third Bancorp now owns 1,614 shares of the company’s stock valued at $39,000 after purchasing an additional 1,604 shares in the last quarter. Finally, State of Wyoming bought a new position in Movado Group during the 2nd quarter valued at $40,000. 72.08% of the stock is owned by institutional investors.

About Movado Group

Movado Group, Inc is a global designer, manufacturer and distributor of watches and related jewelry products. The company’s portfolio encompasses both owned and licensed brands, offering a wide range of timepieces from luxury to accessible price points. Major owned brands include Movado, Concord, and Ebel, alongside newer acquisitions such as MVMT and Olivia Burton. In addition, Movado Group holds licensing agreements to produce watches under fashion names like Hugo Boss, Tommy Hilfiger, Coach, Lacoste and Scuderia Ferrari.

Movado Group’s product line spans classic dress watches, sport and dive models, fashion-forward designs and limited-edition collections.