Zacks Investment Research upgraded shares of Movado Group (NYSE:MOV) from a sell rating to a hold rating in a research note released on Tuesday, Zacks.com reports.
According to Zacks, “Movado Group, Inc. is one of the world’s premier watchmakers. Movado Group designs, manufactures and distributes watches from ten of the most recognized and respected names in time: Movado, Concord, EBEL and ESQ Movado along with their Coach, HUGO BOSS, Juicy Couture, Lacoste, Tommy Hilfiger and Scuderia Ferrari licensed watch brands. From their Swiss luxury timepieces to our accessible fashion watches, each of their brands is recognized for its inherent quality and distinctive image within its price category. Collectively, their timepieces are sold throughout North and South America, Europe, Asia and the Far East. Between their manufacturing facilities in Switzerland, corporate headquarters in Paramus, New Jersey, USA and Bienne, Switzerland and their sales and distribution offices around the world, Movado Group. “
Separately, TheStreet cut shares of Worthington Industries from a b- rating to a c+ rating in a research report on Monday, June 10th.
Shares of Movado Group stock opened at $25.98 on Tuesday. The business’s fifty day simple moving average is $26.40. The company has a current ratio of 3.99, a quick ratio of 2.40 and a debt-to-equity ratio of 0.26. Movado Group has a twelve month low of $24.48 and a twelve month high of $52.10. The stock has a market cap of $580.35 million, a PE ratio of 9.73 and a beta of 0.44.
Movado Group (NYSE:MOV) last announced its quarterly earnings results on Thursday, May 30th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). Movado Group had a return on equity of 12.43% and a net margin of 8.22%. The business had revenue of $146.55 million for the quarter, compared to analysts’ expectations of $148.70 million. During the same period last year, the company posted $0.37 earnings per share. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, analysts predict that Movado Group will post 2.75 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the business. Comerica Bank lifted its holdings in Movado Group by 2.5% in the 1st quarter. Comerica Bank now owns 16,285 shares of the company’s stock worth $557,000 after buying an additional 391 shares in the last quarter. Texas Permanent School Fund lifted its holdings in Movado Group by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 11,203 shares of the company’s stock worth $408,000 after buying an additional 406 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Movado Group by 1.5% in the 4th quarter. Two Sigma Advisers LP now owns 48,900 shares of the company’s stock worth $1,546,000 after buying an additional 700 shares in the last quarter. United Services Automobile Association lifted its holdings in Movado Group by 15.4% in the 4th quarter. United Services Automobile Association now owns 6,733 shares of the company’s stock worth $213,000 after buying an additional 896 shares in the last quarter. Finally, NumerixS Investment Technologies Inc lifted its holdings in Movado Group by 54.5% in the 1st quarter. NumerixS Investment Technologies Inc now owns 3,400 shares of the company’s stock worth $136,000 after buying an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.
About Movado Group
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.
