Movado Group, Inc (NYSE:MOV) updated its FY18 earnings guidance on Monday. The company provided earnings per share guidance of $1.40-1.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.74. The company issued revenue guidance of $515-530 million, compared to the consensus revenue estimate of $575.73 million.
Several equities analysts have recently issued reports on the company. Sidoti raised Movado Group from a neutral rating to a buy rating and set a $34.00 price target for the company in a research report on Monday, January 30th. Zacks Investment Research lowered Movado Group from a strong-buy rating to a hold rating in a research report on Tuesday, January 24th. TheStreet lowered Movado Group from a b- rating to a c+ rating in a research report on Friday, March 10th. Finally, Cowen and Company decreased their target price on Movado Group to $25.00 in a research report on Monday. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $31.00.
Shares of Movado Group, Inc (NYSE:MOV) opened at 25.00 on Tuesday. The firm’s 50 day moving average price is $24.83 and its 200-day moving average price is $25.02. The company has a market capitalization of $573.30 million, a P/E ratio of 15.38 and a beta of 0.47. Movado Group, Inc has a 1-year low of $19.14 and a 1-year high of $31.95.
Movado Group (NYSE:MOV) last posted 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. Movado Group had a return on equity of 8.97% and a net margin of 6.67%. The firm had revenue of $130.80 million for the quarter, compared to the consensus estimate of $137.11 million. During the same period in the previous year, the company posted $0.40 EPS. Movado Group’s quarterly revenue was down 8.7% compared to the same quarter last year. Analysts expect that Movado Group, Inc will post $1.60 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.08%. Movado Group’s payout ratio is currently 32.10%.
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About Movado Group
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.
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