Movado Group, Inc (MOV) Updates FY18 Earnings Guidance

Movado Group, Inc (NYSE:MOV) updated its FY18 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.40-1.55 for the period, compared to the Thomson Reuters consensus estimate of $1.74. The company issued revenue guidance of $515-530 million, compared to the consensus revenue estimate of $575.73 million.

Several brokerages recently issued reports on MOV. Zacks Investment Research raised Movado Group from a hold rating to a strong-buy rating and set a $34.00 price objective for the company in a report on Tuesday, November 29th. Sidoti set a $34.00 price objective on Movado Group and gave the stock a buy rating in a report on Tuesday, November 22nd. Finally, TheStreet raised Movado Group from a hold rating to a buy rating in a report on Wednesday, December 7th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Movado Group has an average rating of Hold and a consensus target price of $30.67.

Earnings History and Estimates for Movado Group (NYSE:MOV)

Shares of Movado Group, Inc (NYSE:MOV) opened at 23.60 on Monday. Movado Group, Inc has a 12 month low of $19.14 and a 12 month high of $31.95. The stock has a 50 day moving average price of $24.83 and a 200-day moving average price of $25.02. The stock has a market cap of $541.20 million, a P/E ratio of 14.51 and a beta of 0.47.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Monday, March 20th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $130.80 million for the quarter, compared to the consensus estimate of $137.11 million. Movado Group had a net margin of 6.67% and a return on equity of 8.97%. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. On average, analysts forecast that Movado Group, Inc will post $1.60 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.20%. Movado Group’s payout ratio is currently 32.10%.

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Movado Group Company Profile

Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains, department stores and independent jewelers.

5 Day Chart for NYSE:MOV

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