Signet Jewelers Limited (NYSE:SIG) Increases Dividend to $0.32 Per Share

Signet Jewelers Limited (NYSE:SIG) announced a quarterly dividend on Thursday, March 20th, Wall Street Journal reports. Investors of record on Friday, April 25th will be paid a dividend of 0.32 per share on Friday, May 23rd. This represents a $1.28 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, April 25th. This is a 10.3% increase from Signet Jewelers’s previous quarterly dividend of $0.29.

Signet Jewelers has raised its dividend payment by an average of 29.0% per year over the last three years. Signet Jewelers has a payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Signet Jewelers to earn $8.91 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 14.4%.

Signet Jewelers Stock Up 3.8 %

Shares of NYSE:SIG opened at $58.46 on Friday. Signet Jewelers has a 1 year low of $45.55 and a 1 year high of $112.06. The firm has a market capitalization of $2.54 billion, a PE ratio of 6.73, a price-to-earnings-growth ratio of 3.43 and a beta of 2.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 0.25. The firm’s 50-day moving average is $54.52 and its two-hundred day moving average is $78.32.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 earnings per share for the quarter, beating analysts’ consensus estimates of $6.39 by $0.23. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the business earned $6.73 earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts predict that Signet Jewelers will post 8.73 EPS for the current year.

Wall Street Analyst Weigh In

SIG has been the topic of a number of analyst reports. UBS Group increased their price objective on Signet Jewelers from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com downgraded Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Wells Fargo & Company dropped their target price on Signet Jewelers from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday. Telsey Advisory Group restated a “market perform” rating and set a $55.00 price objective on shares of Signet Jewelers in a research note on Wednesday. Finally, Bank of America decreased their target price on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.60.

Insider Activity at Signet Jewelers

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $54.13, for a total transaction of $180,415.29. Following the transaction, the director now owns 22,752 shares of the company’s stock, valued at approximately $1,231,565.76. This represents a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.26% of the stock is owned by insiders.

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.