Movado Group, Inc (NYSE:MOV) Expected to Announce Earnings of $0.48 Per Share

Brokerages predict that Movado Group, Inc (NYSE:MOV) will report $0.48 earnings per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Movado Group’s earnings. Movado Group reported earnings per share of $0.82 in the same quarter last year, which would suggest a negative year-over-year growth rate of 41.5%. The firm is scheduled to announce its next earnings report on Tuesday, November 24th.

On average, analysts expect that Movado Group will report full-year earnings of $0.05 per share for the current financial year. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Movado Group.

Movado Group (NYSE:MOV) last announced its earnings results on Thursday, August 27th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.24. Movado Group had a negative net margin of 24.39% and a positive return on equity of 1.76%.

Several research firms have commented on MOV. Zacks Investment Research upgraded Movado Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. TheStreet lowered Movado Group from a “c-” rating to a “d” rating in a research report on Tuesday, June 9th.

Several institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Movado Group by 4.0% during the second quarter. FMR LLC now owns 26,000 shares of the company’s stock valued at $282,000 after purchasing an additional 1,000 shares during the last quarter. Comerica Bank boosted its stake in Movado Group by 6.4% during the 2nd quarter. Comerica Bank now owns 18,418 shares of the company’s stock valued at $195,000 after purchasing an additional 1,106 shares during the period. US Bancorp DE boosted its stake in Movado Group by 17.3% during the 2nd quarter. US Bancorp DE now owns 11,328 shares of the company’s stock valued at $123,000 after purchasing an additional 1,667 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Movado Group by 10.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 25,129 shares of the company’s stock worth $271,000 after acquiring an additional 2,396 shares during the period. Finally, Pacer Advisors Inc. bought a new stake in shares of Movado Group in the 2nd quarter worth approximately $28,000. Institutional investors and hedge funds own 66.80% of the company’s stock.

Movado Group stock traded down $0.06 during midday trading on Friday, reaching $10.25. 172,744 shares of the company were exchanged, compared to its average volume of 260,859. The company has a market capitalization of $237.61 million, a price-to-earnings ratio of -1.75 and a beta of 0.66. The firm’s 50-day simple moving average is $11.06 and its 200-day simple moving average is $10.89. Movado Group has a 1 year low of $8.12 and a 1 year high of $28.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.38 and a current ratio of 3.96.

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.

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