Analysts expect Movado Group, Inc (NYSE:MOV) to announce earnings of $1.13 per share for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Movado Group’s earnings. Movado Group posted earnings of $1.04 per share during the same quarter last year, which would suggest a positive year over year growth rate of 8.7%. The business is expected to issue its next quarterly earnings results on Tuesday, November 20th.
On average, analysts expect that Movado Group will report full-year earnings of $2.54 per share for the current year. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Movado Group.
Movado Group (NYSE:MOV) last released its quarterly earnings results on Wednesday, August 29th. The company reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $144.10 million for the quarter, compared to analyst estimates of $137.50 million. Movado Group had a net margin of 0.12% and a return on equity of 11.81%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share.
Several research firms recently commented on MOV. Sidoti upgraded shares of Movado Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 22nd. Zacks Investment Research lowered shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Cowen upgraded shares of Movado Group from a “market perform” rating to an “outperform” rating in a research report on Monday, October 8th.
MOV stock opened at $40.54 on Friday. The firm has a market cap of $930.82 million, a P/E ratio of 20.27 and a beta of -0.06. Movado Group has a one year low of $26.09 and a one year high of $53.72.
In related news, Director Stephen I. Sadove acquired 6,000 shares of the firm’s stock in a transaction on Friday, August 31st. The shares were acquired at an average cost of $42.81 per share, with a total value of $256,860.00. Following the completion of the acquisition, the director now directly owns 6,000 shares in the company, valued at approximately $256,860. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard D. Isserman sold 3,970 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $40.64, for a total transaction of $161,340.80. Following the transaction, the director now directly owns 8,342 shares in the company, valued at $339,018.88. The disclosure for this sale can be found here. Company insiders own 30.56% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Movado Group by 11.5% during the second quarter. BlackRock Inc. now owns 2,283,297 shares of the company’s stock valued at $110,284,000 after purchasing an additional 234,854 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Movado Group by 51.2% in the third quarter. Acadian Asset Management LLC now owns 622,486 shares of the company’s stock worth $26,081,000 after buying an additional 210,834 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Movado Group by 1.3% in the second quarter. Northern Trust Corp now owns 468,268 shares of the company’s stock worth $22,617,000 after buying an additional 6,202 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Movado Group by 73.4% in the second quarter. Renaissance Technologies LLC now owns 287,000 shares of the company’s stock worth $13,862,000 after buying an additional 121,500 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Movado Group by 262.9% in the second quarter. Millennium Management LLC now owns 232,780 shares of the company’s stock worth $11,243,000 after buying an additional 168,641 shares in the last quarter. 67.56% of the stock is currently owned by institutional investors and hedge funds.
Movado Group Company Profile
Movado Group, Inc designs, develops, sources, markets, and distributes fine watches in the United States and internationally. The company operates in two segments, Wholesale and Retail. The company offers its watches under the Coach, Concord, Ebel, Olivia Burton, Rebecca Minkoff and Uri Minkoff, Scuderia Ferrari, HUGO BOSS, Juicy Couture, Lacoste, Movado, and Tommy Hilfiger brand names.
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