Why Movado Group Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
Movado Group Inc. (NYSE:MOV) shares fell after reporting Q4 earnings that beat expectations but provided a weaker FY25 EPS outlook than consensus. Despite beating Q4 earnings and revenue forecasts, the company's adjusted operating income declined year-over-year, and its FY25 EPS guidance of $1.20-$1.30 is significantly below the consensus of $2.06. Movado also announced a dividend payment and share repurchase progress, expecting flat net sales for the first half of FY25.
March 26, 2024 | 2:02 pm
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Movado Group Inc. shares fell after reporting better-than-expected Q4 earnings but a weaker FY25 EPS outlook. The company also announced a dividend and shared details on its share repurchase program.
Movado's share price decline is directly related to its FY25 earnings per share guidance, which fell short of analyst expectations despite strong Q4 performance. The announcement of a dividend and progress in share repurchases may provide some support, but the lower EPS outlook is likely the primary driver of the negative short-term impact on the stock price.
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