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

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

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

Movado Group Price Performance

Shares of MOV traded up $0.06 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 company has a 50 day moving average price of $19.36 and a 200 day moving average price of $22.41. The company has a market capitalization of $463.55 million, a PE ratio of 13.55 and a beta of 1.04. Movado Group has a fifty-two week low of $17.86 and a fifty-two week high of $31.44.

Movado Group (NYSE:MOV - Get Free Report) last issued 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 business had revenue of $159.31 million during the quarter. Movado Group had a net margin of 5.45% and a return on equity of 7.23%. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, equities analysts forecast that Movado Group will post 0.95 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Movado Group from a "buy" rating to a "hold" rating in a research note on Friday, September 6th.

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.

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