Movado Group (MOV) Receiving Favorable Media Coverage, Report Shows

News headlines about Movado Group (NYSE:MOV) have trended positive this week, AlphaOne Sentiment reports. AlphaOne, a subsidiary of Accern, identifies negative and positive press coverage by analyzing more than 20 million news and blog sources. AlphaOne ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Movado Group earned a daily sentiment score of 0.50 on AlphaOne’s scale. AlphaOne also assigned media stories about the company an impact score of 84 out of 100, indicating that recent press coverage is very likely to have an impact on the stock’s share price in the near term.

Movado Group (NYSE:MOV) last posted its quarterly earnings results on Monday, March 20th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by $0.01. The company had revenue of $130.80 million during the quarter, compared to the consensus estimate of $137.11 million. Movado Group had a net margin of 6.67% and a return on equity of 8.97%. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period last year, the firm posted $0.40 earnings per share.

MOV has been the subject of several recent analyst reports. Sidoti raised Movado Group from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Monday, January 30th. TheStreet cut Movado Group from a “b-” rating to a “c+” rating in a research report on Friday, March 10th. Zacks Investment Research cut Movado Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 24th. Finally, Cowen and Company reduced their price objective on Movado Group from $27.00 to $25.00 and set a “market perform” rating for the company in a research report on Monday, March 20th.

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About Movado Group

Movado Group, Inc designs, sources, markets and distributes watches. The Company operates through two segments: Wholesale and Retail. The Wholesale segment includes the design, development, sourcing, marketing and distribution of watches, and after-sales service activities and shipping. It sells all of its brands to jewelry store chains and department stores, as well as independent jewelers.

12 Month Chart for NYSE:MOV

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