Movado Group, Inc. (NYSE:MOV) Declares $0.35 Quarterly Dividend

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 paid 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% annually over the last three years.

Movado Group Trading Down 2.3 %

Movado Group stock opened at $13.32 on Friday. The stock has a market cap of $294.83 million, a P/E ratio of 12.80 and a beta of 0.92. Movado Group has a 52 week low of $12.85 and a 52 week high of $27.80. The stock has a 50 day moving average of $17.21 and a 200-day moving average of $18.74.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MOV. BWS Financial began coverage on Movado Group in a report on Thursday, January 2nd. They set a “buy” rating and a $31.50 target price for the company. StockNews.com lowered shares of Movado Group from a “buy” rating to a “hold” rating in a research report 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.