News articles about Movado Group (NYSE:MOV) have been trending somewhat positive on Sunday, according to Accern Sentiment. The research group identifies positive and negative media coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Movado Group earned a news impact score of 0.10 on Accern’s scale. Accern also assigned news headlines about the company an impact score of 47.3361902900522 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news headlines that may have impacted Accern Sentiment’s rankings:
- MOVADO GROUP, INC : ex-dividend day (4-traders.com)
- Movado Group, Inc (MOV) Given Average Recommendation of “Buy” by Analysts (americanbankingnews.com)
- Insider Selling: Movado Group, Inc (MOV) CFO Sells 5,401 Shares of Stock (americanbankingnews.com)
- MOVADO GROUP INC : Entry into a Material Definitive Agreement (form 8-K) (4-traders.com)
- BRIEF-Movado Group Says Entered Into An Amended And Restated License Agreement With Ferrari S.P.A. (reuters.com)
Several analysts have weighed in on MOV shares. ValuEngine upgraded Movado Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded Movado Group from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research note on Saturday, September 2nd. KeyCorp reiterated a “hold” rating on shares of Movado Group in a research note on Wednesday, October 11th. Finally, BidaskClub downgraded Movado Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.33.
Movado Group (NYSE:MOV) last issued its earnings results on Tuesday, November 21st. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Movado Group had a return on equity of 8.34% and a net margin of 4.35%. The firm had revenue of $190.69 million for the quarter, compared to the consensus estimate of $176.33 million. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. analysts expect that Movado Group will post 1.74 EPS for the current fiscal year.
Movado Group announced that its Board of Directors has approved a share repurchase program on Tuesday, August 29th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.13 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.78%. Movado Group’s payout ratio is 50.49%.
In other news, Director Nathan Leventhal sold 3,130 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $28.05, for a total value of $87,796.50. Following the sale, the director now owns 14,565 shares in the company, valued at $408,548.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sallie A. Demarsilis sold 5,401 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $28.44, for a total value of $153,604.44. Following the completion of the sale, the chief financial officer now owns 31,978 shares in the company, valued at approximately $909,454.32. The disclosure for this sale can be found here. Insiders sold 20,012 shares of company stock worth $565,805 in the last 90 days. Company insiders own 32.98% of the company’s stock.
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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 and department stores, as well as independent jewelers.
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