Movado Group, Inc. (MOV) to Issue Quarterly Dividend of $0.35 on May 6th

Movado Group, Inc. (NYSE:MOV) declared a quarterly dividend on Monday, April 14th, Wall Street Journal reports. Shareholders of record on Tuesday, April 22nd will be given a dividend of 0.35 per share on Tuesday, May 6th. This represents a $1.40 dividend on an annualized basis and a yield of 10.51%. The ex-dividend date of this dividend is Tuesday, April 22nd.

Movado Group has raised its dividend by an average of 13.8% per year over the last three years.

Movado Group Stock Down 2.3 %

Shares of MOV stock opened at $13.32 on Friday. Movado Group has a 52-week low of $12.85 and a 52-week high of $27.80. The stock’s 50-day moving average price is $17.21 and its 200 day moving average price is $18.74. The stock has a market capitalization of $294.83 million, a PE ratio of 12.80 and a beta of 0.92.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Wednesday, April 16th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.12. The firm had revenue of $181.48 million during the quarter, compared to analysts’ expectations of $180.62 million. Movado Group had a net margin of 3.62% and a return on equity of 5.38%. Analysts expect that Movado Group will post 1.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MOV has been the subject of a number of research analyst reports. BWS Financial began coverage on shares of Movado Group in a research report on Thursday, January 2nd. They set a “buy” rating and a $31.50 price target for the company. StockNews.com downgraded shares of Movado Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th.

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.