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In the latest trading session, Movado (MOV) closed at $30.11, marking a -0.95% move from the previous day. This change lagged the S&P 500's daily loss of 0.87%.
Heading into today, shares of the watchmaker had lost 0.36% over the past month, lagging the Retail-Wholesale sector's gain of 1.76% and the S&P 500's gain of 1.61% in that time.
Wall Street will be looking for positivity from MOV as it approaches its next earnings report date.
Any recent changes to analyst estimates for MOV should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MOV currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, MOV is holding a Forward P/E ratio of 11.34. For comparison, its industry has an average Forward P/E of 13.31, which means MOV is trading at a discount to the group.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MOV in the coming trading sessions, be sure to utilize Zacks.com.
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Movado Group Inc. (MOV) : Free Stock Analysis Report
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