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

StockNews.com cut shares of Signet Jewelers (NYSE:SIG) from a buy rating to a hold rating in a research note released on Wednesday.

Other analysts have also issued reports about the company. Citigroup reiterated a buy rating and set a $119.00 price target on shares of Signet Jewelers in a report on Friday, June 14th. Wells Fargo & Company lowered their target price on Signet Jewelers from $125.00 to $105.00 and set an overweight rating on the stock in a research note on Tuesday, August 27th. Telsey Advisory Group restated a market perform rating and set a $87.00 price objective on shares of Signet Jewelers in a report on Wednesday. Bank of America dropped their target price on shares of Signet Jewelers from $108.00 to $100.00 and set a neutral rating on the stock in a research note on Friday, September 13th. Finally, UBS Group decreased their price target on shares of Signet Jewelers from $145.00 to $132.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $108.60.

Signet Jewelers Price Performance

NYSE SIG opened at $98.07 on Wednesday. The company has a fifty day moving average price of $84.71 and a 200-day moving average price of $92.00. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 1.07 and a beta of 2.10. Signet Jewelers has a 1 year low of $65.12 and a 1 year high of $112.06.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Thursday, September 12th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 EPS. On average, research analysts anticipate that Signet Jewelers will post 10.8 EPS for the current fiscal year.

Signet Jewelers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 annualized dividend and a dividend yield of 1.18%. Signet Jewelers’s payout ratio is 9.43%.

Insider Activity at Signet Jewelers

In other Signet Jewelers news, insider Jamie Singleton sold 18,105 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $83.11, for a total transaction of $1,504,706.55. Following the sale, the insider now owns 162,942 shares of the company’s stock, valued at $13,542,109.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Oded Edelman sold 1,398 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $94.53, for a total transaction of $132,152.94. Following the completion of the transaction, the insider now owns 32,666 shares of the company’s stock, valued at approximately $3,087,916.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jamie Singleton sold 18,105 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $83.11, for a total transaction of $1,504,706.55. Following the completion of the sale, the insider now owns 162,942 shares in the company, valued at $13,542,109.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,892 shares of company stock worth $6,536,982. 3.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SIG. Brown Brothers Harriman & Co. bought a new stake in Signet Jewelers during the second quarter valued at $51,000. Hexagon Capital Partners LLC raised its holdings in shares of Signet Jewelers by 33.4% in the 2nd quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock valued at $63,000 after acquiring an additional 175 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Signet Jewelers by 15.3% during the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after acquiring an additional 122 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Signet Jewelers during the second quarter worth about $180,000. Finally, Lazard Asset Management LLC increased its position in shares of Signet Jewelers by 6.8% in the first quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock worth $183,000 after purchasing an additional 116 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.