Zacks Investment Research downgraded shares of Movado Group (NYSE:MOV) from a hold rating to a sell rating in a report published on Tuesday morning, Zacks.com reports.

According to Zacks, “Movado Group, Inc. is one of the world’s premier watchmakers. Movado Group designs, manufactures and distributes watches from ten of the most recognized and respected names in time: Movado, Concord, EBEL and ESQ Movado along with their Coach, HUGO BOSS, Juicy Couture, Lacoste, Tommy Hilfiger and Scuderia Ferrari licensed watch brands. From their Swiss luxury timepieces to our accessible fashion watches, each of their brands is recognized for its inherent quality and distinctive image within its price category. Collectively, their timepieces are sold throughout North and South America, Europe, Asia and the Far East. Between their manufacturing facilities in Switzerland, corporate headquarters in Paramus, New Jersey, USA and Bienne, Switzerland and their sales and distribution offices around the world, Movado Group. “

Separately, TheStreet downgraded Worthington Industries from a b- rating to a c+ rating in a report on Monday, June 10th.

Shares of NYSE:MOV traded up $0.16 on Tuesday, hitting $26.72. 292 shares of the company traded hands, compared to its average volume of 169,888. Movado Group has a 52 week low of $24.48 and a 52 week high of $52.10. The company has a current ratio of 3.99, a quick ratio of 2.40 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $27.36. The company has a market capitalization of $612.21 million, a P/E ratio of 9.95 and a beta of 0.44.

Movado Group (NYSE:MOV) last issued its quarterly earnings results on Thursday, May 30th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.06). Movado Group had a net margin of 8.22% and a return on equity of 12.43%. The company had revenue of $146.55 million for the quarter, compared to the consensus estimate of $148.70 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. Movado Group’s revenue was up 15.3% compared to the same quarter last year. On average, equities analysts anticipate that Movado Group will post 2.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 11th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 2.99%. Movado Group’s payout ratio is 29.96%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Movado Group by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,389,807 shares of the company’s stock worth $43,945,000 after buying an additional 27,091 shares in the last quarter. Janus Henderson Group PLC boosted its position in Movado Group by 20.5% in the first quarter. Janus Henderson Group PLC now owns 677,628 shares of the company’s stock worth $24,652,000 after purchasing an additional 115,305 shares during the last quarter. Tributary Capital Management LLC purchased a new position in Movado Group in the second quarter worth about $13,221,000. Bank of New York Mellon Corp boosted its position in Movado Group by 6.2% in the fourth quarter. Bank of New York Mellon Corp now owns 290,411 shares of the company’s stock worth $9,183,000 after purchasing an additional 16,883 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in Movado Group by 109.1% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 230,000 shares of the company’s stock worth $8,367,000 after purchasing an additional 120,000 shares during the last quarter. Institutional investors own 70.97% of the company’s stock.

Movado Group Company Profile

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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