Movado Group Raises FY19 Outlook; Declares Dividend - Quick Facts

(RTTNews) - While reporting its first-quarter financial results on Wednesday, Movado Group, Inc. (MOV) raised its financial outlook for fiscal 2019 and its board of directors declared a quarterly dividend.

The company now expects full-year 2019 earnings in a range of $2.35 to $2.40 per share on net sales between $615.0 million and $625.0 million.

Earlier, the company projected full-year earnings in the range of $2.15 to $2.25 per share on net sales between $605 million and $615 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.23 per share for the year on revenues of $608.87 million. Analysts' estimates typically exclude special items.

Movado also announced that its board of directors approved the payment of a cash dividend of $0.13 for each share of the company's outstanding common stock and class A common stock, payable on June 25, 2018 to shareholders of record as of the close of business on June 11, 2018.