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

Movado Group, Inc. (NYSE:MOV) announced a quarterly dividend on Friday, December 6th,Wall Street Journal reports. Stockholders of record on Monday, December 16th will be given a dividend of 0.35 per share on Monday, December 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date is Monday, December 16th.

Movado Group has a dividend payout ratio of 55.1% indicating that its dividend is sufficiently covered by earnings.

Movado Group Stock Up 0.3 %

Shares of MOV traded up $0.06 during midday trading on Friday, hitting $20.86. The company’s stock had a trading volume of 208,507 shares, compared to its average volume of 201,424. The stock has a market capitalization of $463.55 million, a price-to-earnings ratio of 13.55 and a beta of 1.04. Movado Group has a one year low of $17.86 and a one year high of $31.44. The company’s fifty day simple moving average is $19.36 and its two-hundred day simple moving average is $22.41.

Movado Group (NYSE:MOV) last announced its 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 company had revenue of $159.31 million for the quarter. Movado Group had a return on equity of 7.23% and a net margin of 5.45%. During the same period in the prior year, the company posted $0.38 earnings per share. On average, research analysts predict that Movado Group will post 0.95 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Movado Group from a “buy” rating to a “hold” rating in a research report on Friday, September 6th.

Movado Group Company Profile

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.