StockNews.com Lowers Signet Jewelers (NYSE:SIG) to Hold

StockNews.com lowered shares of Signet Jewelers (NYSE:SIG) from a buy rating to a hold rating in a report released on Wednesday morning.

A number of other equities analysts have also recently weighed in on SIG. Telsey Advisory Group reaffirmed a market perform rating and issued a $105.00 price target on shares of Signet Jewelers in a report on Wednesday, July 24th. Citigroup reaffirmed a buy rating and set a $119.00 target price on shares of Signet Jewelers in a research note on Friday, June 14th. Finally, Wells Fargo & Company dropped their price target on shares of Signet Jewelers from $125.00 to $105.00 and set an overweight rating on the stock in a research note on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $116.20.

Signet Jewelers Trading Down 0.8 %

Shares of NYSE:SIG opened at $76.95 on Wednesday. Signet Jewelers has a 12-month low of $65.12 and a 12-month high of $112.06. The business has a 50 day moving average of $82.02 and a two-hundred day moving average of $93.09. The company has a market capitalization of $3.43 billion, a PE ratio of 6.26, a PEG ratio of 0.90 and a beta of 2.11.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Thursday, June 13th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.29. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The business’s revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 EPS. Equities research analysts predict that Signet Jewelers will post 10.6 earnings per share for the current fiscal year.

Signet Jewelers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Friday, July 26th. Signet Jewelers’s payout ratio is 9.43%.

Insider Activity at Signet Jewelers

In other Signet Jewelers news, insider Joan M. Hilson sold 8,000 shares of Signet Jewelers stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $91.81, for a total transaction of $734,480.00. Following the sale, the insider now owns 189,231 shares of the company’s stock, valued at approximately $17,373,298.11. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Signet Jewelers news, insider Oded Edelman sold 9,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $74.55, for a total value of $670,950.00. Following the completion of the sale, the insider now owns 28,398 shares in the company, valued at approximately $2,117,070.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $91.81, for a total value of $734,480.00. Following the transaction, the insider now owns 189,231 shares in the company, valued at $17,373,298.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,439 shares of company stock valued at $4,809,869. 3.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Signet Jewelers

Several hedge funds and other institutional investors have recently made changes to their positions in SIG. Khrom Capital Management LLC purchased a new stake in Signet Jewelers in the 2nd quarter valued at $58,357,000. Norges Bank acquired a new stake in Signet Jewelers during the fourth quarter worth about $52,976,000. Eminence Capital LP increased its position in Signet Jewelers by 71.3% during the second quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock worth $75,644,000 after purchasing an additional 351,588 shares during the last quarter. Select Equity Group L.P. raised its stake in Signet Jewelers by 2.9% during the second quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock worth $622,562,000 after purchasing an additional 193,977 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Signet Jewelers by 38.2% in the 1st quarter. Janus Henderson Group PLC now owns 656,005 shares of the company’s stock valued at $65,646,000 after purchasing an additional 181,207 shares during the last quarter.

Signet Jewelers Company Profile

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.