Movado Group, Inc. (MOV) To Go Ex-Dividend on September 16th

Movado Group, Inc. (NYSE:MOV) announced a quarterly dividend on Thursday, September 5th, RTT News reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.35 per share on Monday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date of this dividend is Monday, September 16th.

Movado Group has a payout ratio of 36.1% indicating that its dividend is sufficiently covered by earnings.

Movado Group Stock Down 1.9 %

MOV stock opened at $18.90 on Friday. Movado Group has a 12-month low of $18.71 and a 12-month high of $31.44. The company has a market cap of $419.77 million, a price-to-earnings ratio of 10.56 and a beta of 1.00. The company has a 50 day moving average of $24.33 and a two-hundred day moving average of $25.81.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.03). The firm had revenue of $159.31 million for the quarter. Movado Group had a net margin of 6.09% and a return on equity of 8.18%. During the same period last year, the company posted $0.38 EPS. On average, research analysts anticipate that Movado Group will post 1.25 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MOV. Benchmark reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Movado Group in a research note on Friday, May 31st. StockNews.com downgraded Movado Group from a “buy” rating to a “hold” rating in a research note on Friday.

Insider Buying and Selling

In other news, SVP Michelle Kennedy sold 1,245 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $26.05, for a total value of $32,432.25. Following the sale, the senior vice president now directly owns 12,202 shares of the company’s stock, valued at $317,862.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 30.11% of the stock is owned by insiders.

About Movado Group

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.