Movado Group (NYSE:MOV) Issues Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Movado Group (NYSE:MOV) announced its quarterly earnings data on Tuesday. The company reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.21), Briefing.com reports. Movado Group had a net margin of 9.23% and a return on equity of 11.74%. The firm had revenue of $205.62 million during the quarter, compared to analyst estimates of $220.00 million. During the same period last year, the business posted $1.18 EPS. The company’s revenue was down 1.6% on a year-over-year basis. Movado Group updated its FY20 guidance to $1.55-1.70 EPS.

Shares of NYSE MOV traded down $5.15 during midday trading on Tuesday, reaching $20.05. The company had a trading volume of 1,382,539 shares, compared to its average volume of 212,748. Movado Group has a one year low of $18.78 and a one year high of $44.39. The company has a quick ratio of 2.05, a current ratio of 3.64 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $25.19 and its 200-day moving average price is $26.13. The stock has a market cap of $556.09 million, a PE ratio of 7.51 and a beta of 0.53.

Several research analysts recently issued reports on MOV shares. Zacks Investment Research cut Movado Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 5th. Cowen cut Movado Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $40.00 to $22.00 in a research report on Thursday, August 29th.

In related news, Director Maurice S. Reznik bought 3,002 shares of the stock in a transaction dated Friday, August 30th. The stock was bought at an average price of $21.25 per share, with a total value of $63,792.50. Following the purchase, the director now owns 35,732 shares in the company, valued at approximately $759,305. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 29.92% 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.

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Earnings History for Movado Group (NYSE:MOV)

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