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

Movado Group, Inc. (NYSE:MOV - Get Free Report) 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 is Tuesday, April 22nd.

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

Movado Group Price Performance

Shares of NYSE:MOV traded down $0.32 during midday trading on Friday, reaching $13.32. The company's stock had a trading volume of 483,352 shares, compared to its average volume of 198,892. The business's fifty day simple moving average is $17.21 and its 200-day simple moving average is $18.75. Movado Group has a fifty-two week low of $12.85 and a fifty-two week high of $27.80. The company has a market capitalization of $294.83 million, a P/E ratio of 12.80 and a beta of 0.92.

Movado Group (NYSE:MOV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.12. Movado Group had a net margin of 3.62% and a return on equity of 5.38%. The firm had revenue of $181.48 million during the quarter, compared to analysts' expectations of $180.62 million. On average, analysts forecast 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 recent research reports. StockNews.com downgraded Movado Group from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. 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 target price on the stock.

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.