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MOV $19.34

MOV target price
19.34
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0
Movado Group, Inc.
Type
Public
Traded as NYSE: MOV
S&P 600 Component
Russell 2000 Component
Founded La Chaux-de-Fonds, Switzerland (1881)
Founder Achille Ditesheim
Gedalio Grinberg (1983)
Headquarters Paramus, New Jersey, United States
Key people
Efraim Grinberg, Chairman and CEO; Ricardo Quintero, President.
Products Watches
Revenue DecreaseUS$460,857,000 (2009)
Operating income
DecreaseUS$3,288,000 (2009)
Net income
DecreaseUS$2,552,000 (2009)
Total assets DecreaseUS$440,000,000 (2009)
Website movado.com

Movado is a Swiss watchmaker best known for its Museum Watch. Designed in 1947 by Bauhaus-influenced artist Nathan George Horwitt, the watch dial has a very simple design dial defined by a solitary dot at 12, symbolizing the sun at high noon. It was first made by Vacheron & Constantin-Le Coultre Watches, Inc., and later produced by Movado. Horwitt's dial was selected for the permanent design collection of the Museum of Modern Art, New York, in 1960, the first watch dial awarded this distinction. The single dot dial now appears in many of Movado's timepieces.

Movado was founded as LAI Ditescheim & Freres SA in 1881 in La Chaux-de-Fonds, Switzerland, by Léopold Achille Isidore Ditesheim. In 1983, the company was purchased by Gedalio Grinberg, a Cuban-born Jew, who fled Fidel Castro's Marxist Revolution in 1960 with his family.

His son, Efraim Grinberg, is the Chairman and Chief Executive Officer of Movado Group, Inc. The North American President of Movado is Alan Chinich. In 2006, Movado celebrated its 125th year of watchmaking.

On February 23, 1999, Movado Group, Inc. completed the sale of Piaget business to VLG North America, Inc., for approximately $30 million.

The company markets the Museum Watch, designed by the American designer Nathan George Horwitt in 1947. It was first manufactured by Vacheron & Constantin-Le Coultre Watches, Inc., Switzerland. Movado started producing an unauthorized version starting in 1948, copying Horwitt's design. It was added to the permanent collection of the Museum of Modern Art in 1960. Movado finally settled with Horwitt in 1975 with a payment of $29,000 ($128,000 in 2015 dollars). Following Horwitt's death, Movado started heavy promotion of Horwitt and the design of the Museum Watch. Photographer Edward Steichen called Horwitt's design "the only truly original and beautiful one for such an object".

Some Movado watch models have Esperanto names such as Bela ("beautiful"), Belamodo ("beautiful fashion"), Fiero ("pride"), Brila ("brilliant"), Linio ("line"), and Verto. The company's name means "movement" in that language.

In November 2015, Movado announced the release of the Movado Motion collection of fine Swiss made watches, powered by the Manufacture Modules Technologies (MMT) MotionX technology platform. The collection includes the women’s Bellina and the men’s Museum Sport models.

Movado commissioned Time Sculpture by architect Philip Johnson. The bronze sculpture with granite base, located outside Lincoln Center in New York City, was dedicated May 19, 1999.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2023 2022-11-21 Future report Set alerts
Q2 2023 2022-08-25 1.07 1.07
Q1 2023 2022-05-26 0.82 0.82
Q4 2022 2022-03-24 1.32 1.32
Q3 2022 2021-11-23 1.36 1.36
Q2 2022 2021-08-26 0.85 0.85
Q1 2022 2021-05-27 0.43 0.43
Q4 2021 2021-03-25 0.84 0.84
Q3 2021 2020-11-24 0.70 0.70
Q3 2020 2020-11-24 0.70 0.00

Ratings

2016-05-29 Reiterated Rating Cowen and Company Hold
2016-05-27 Lower Price Target Cowen and Company $24.00
2016-04-19 Reiterated Rating Pacific Crest Equal Weight
2016-02-19 Initiated Coverage Sidoti Buy $34.00
2015-11-26 Reiterated Rating Barrington Research Hold
2015-11-24 Reiterated Rating Cowen and Company Hold
2015-08-28 Reiterated Rating Cowen and Company Market Perform $28.00 to $29.00
2014-12-16 Initiated Coverage Cowen and Company Market Perform $29.00
2014-11-19 Downgrade Barrington Research Outperform to Market Perform
2014-11-14 Downgrade Dougherty & Co Buy to Neutral
2014-08-27 Downgrade Stephens Overweight to Equal Weight
2014-06-23 Initiated Coverage Barrington Research Outperform $49.00
2014-03-26 Boost Price Target Brean Capital Buy $50.00 to $54.00
2013-12-12 Initiated Dougherty & Company Buy $56
2013-12-12 Initiated Coverage Dougherty & Co Buy $56.00
2013-11-11 Initiated Coverage KeyBanc Hold
2012-08-29 Downgrade Capstone Investments Buy to Hold
2012-08-15 Initiated Capstone Investments Buy $31
2009-09-04 Upgrade Morgan Joseph Hold to Buy $16
2008-12-05 Downgrade Morgan Joseph Buy to Hold
2008-10-15 Downgrade JMP Securities Mkt Outperform to Mkt Perform
2008-09-05 Reiterated Morgan Joseph Buy $23 to $28
2008-04-16 Upgrade Morgan Joseph Hold to Buy $23
2008-02-26 Reiterated JMP Securities Mkt Outperform $36 to $28
2007-06-01 Reiterated Morgan Joseph Buy $34 to $36
2007-02-15 Reiterated JMP Securities Mkt Outperform $28 to $36
2016-05-29 Reiterated Rating Cowen and Company Hold
2016-05-27 Lower Price Target Cowen and Company $24.00
2016-04-19 Reiterated Rating Pacific Crest Equal Weight
2016-02-19 Initiated Coverage Sidoti Buy $34.00
2015-11-26 Reiterated Rating Barrington Research Hold

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
GRINBERG EFRAIM Chairman - CEO 1.04%  (194173) MOV /
Morelli Francis Anthony Sr. VP Global Bus. Proc. & CIO 0.25%  (46342) MOV /
HOWARD ALAN H 0.25%  (45979) MOV /
COTE RICHARD President - COO 0.24%  (44733) MOV /
Quintero Perez Ricardo President 0.23%  (42538) MOV /
ADAME MARGARET HAYES 0.21%  (38667) MOV /
DEMARSILIS SALLIE A Chief Financial Officer 0.19%  (36195) MOV /
PHALEN MIRIAM GRINBERG 0.18%  (34046) MOV /
Reznik Maurice S 0.16%  (29539) KS / MOV /
ORESMAN DONALD 0.12%  (22991) MOV /
DElia Vivian Senior VP Human Resources 0.12%  (21507) MOV /
BRIDGMAN PETER A 0.09%  (17400) MOV /
LEVENTHAL NATHAN 0.09%  (17193) MOV /
Sussis Mitchell Cole Senior VP and General Counsel 0.08%  (15758) MOV /
Isserman Richard D 0.07%  (12312) MOV /
GRINBERG ALEXANDER 0.05%  (9544) MOV /
SILVERSTEIN LEONARD L 0.03%  (4930) MOV /