Movado Group Inc. (NYSE: MOV) On Wednesday – Up 66.41 Percent From Lows, What To Expect Going Ahead? – Marketing Sentinel
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Movado Group Inc. (NYSE: MOV) On Wednesday – Up 66.41 Percent From Lows, What To Expect Going Ahead?

During the last session, Movado Group Inc. (NYSE:MOV)’s traded shares were 0.68 million, with the beta value of the company hitting 1.26. At the end of the trading day, the stock’s price was $47.66, reflecting an intraday gain of 6.91% or $3.08. The 52-week high for the MOV share is $44.92, that puts it up 5.75 from that peak though still a striking 66.41% gain since the share price plummeted to a 52-week low of $16.01. The company’s market capitalization is $1.10B, and the average trade volume was 144.67K shares over the past three months.

Movado Group Inc. (MOV) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 3.00. MOV has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.01.

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Movado Group Inc. (NYSE:MOV) trade information

Movado Group Inc. (MOV) registered a 6.91% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 6.91% in intraday trading to $47.66 this Wednesday, 11/24/21, hitting a weekly high. The stock’s 5-day price performance is 27.88%, and it has moved by 39.52% in 30 days. Based on these gigs, the overall price performance for the year is 158.18%.

The consensus price target of analysts on Wall Street is $48.00, which implies an increase of 0.71% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $48.00 and $48.00 respectively. As a result, MOV is trading at a discount of -0.71% off the target high and -0.71% off the low.

Movado Group Inc. (MOV) estimates and forecasts

Statistics show that Movado Group Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Movado Group Inc. (MOV) shares have gone up 59.72% during the last six months, with a year-to-date growth rate more than the industry average at 220.65% against 45.30. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 44.30% this quarter and then drop -19.00% in the quarter after that. In the rating firms’ projections, revenue will increase 41.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $211 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $196 million by the end of Jan 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -36.60%. While earnings are projected to return -386.00% in 2021, the next five years will return 15.00% per annum.

MOV Dividends

Movado Group Inc. is due to release its next quarterly earnings between November 22 and November 26. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Movado Group Inc. is 0.80, with the dividend yield indicating at 1.68 percent, continuing the trend of increasing dividends in recent years.

Movado Group Inc. (NYSE:MOV)’s Major holders

Movado Group Inc. insiders own 2.61% of total outstanding shares while institutional holders control 91.68%, with the float percentage being 94.13%. Blackrock Inc. is the largest shareholder of the company, while 220 institutions own stock in it. As of Jun 29, 2021, the company held over 2.68 million shares (or 16.25% of all shares), a total value of $84.41 million in shares.

The next largest institutional holding, with 1.23 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 7.46% of outstanding shares. At the market price on Jun 29, 2021, these shares were valued at $38.76 million.

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Also, the Mutual Funds coming in first place with the largest holdings of Movado Group Inc. (MOV) shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. Data provided on Jul 30, 2021 indicates that iShares Core S&P Smallcap ETF owns about 1.12 million shares. This amounts to just over 6.76 percent of the company’s overall shares, with a $33.57 million market value. The same data shows that the other fund manager holds slightly less at 0.45 million, or about 2.72% of the stock, which is worth about $14.13 million.

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