StockNews.com lowered shares of Signet Jewelers (NYSE:SIG – Free Report) from a buy rating to a hold rating in a research note published on Thursday morning.
A number of other research firms have also recently weighed in on SIG. Telsey Advisory Group reaffirmed a “market perform” rating and set a $87.00 target price on shares of Signet Jewelers in a research note on Wednesday, October 2nd. UBS Group reduced their price objective on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Wells Fargo & Company increased their target price on shares of Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Bank of America lowered their price objective on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $109.60.
Check Out Our Latest Stock Analysis on Signet Jewelers
Signet Jewelers Stock Performance
Signet Jewelers (NYSE:SIG – Get Free Report) last released its quarterly earnings results on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The business’s revenue was down 7.6% on a year-over-year basis. During the same period last year, the business earned $1.55 EPS. As a group, equities analysts expect that Signet Jewelers will post 10.8 earnings per share 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. Shareholders of record on Friday, October 25th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, October 25th. Signet Jewelers’s dividend payout ratio (DPR) is currently 13.43%.
Insider Transactions at Signet Jewelers
In other news, Director Eugenia Ulasewicz sold 3,333 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $99.63, for a total transaction of $332,066.79. Following the completion of the sale, the director now directly owns 26,085 shares of the company’s stock, valued at $2,598,848.55. This represents a 11.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joan M. Hilson sold 8,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $94.57, for a total value of $756,560.00. Following the completion of the transaction, the insider now directly owns 200,844 shares in the company, valued at approximately $18,993,817.08. The trade was a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,957 shares of company stock valued at $5,239,306 in the last 90 days. 3.26% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Signet Jewelers
Several hedge funds and other institutional investors have recently modified their holdings of SIG. Harbor Capital Advisors Inc. acquired a new position in shares of Signet Jewelers during the third quarter worth about $25,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Signet Jewelers in the 2nd quarter valued at $51,000. Hexagon Capital Partners LLC boosted its holdings in shares of Signet Jewelers by 33.4% during 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. Erste Asset Management GmbH bought a new position in Signet Jewelers during the 3rd quarter worth $77,000. Finally, Blue Trust Inc. raised its position in Signet Jewelers by 15.3% during the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after purchasing an additional 122 shares during the last quarter.
About Signet Jewelers
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.
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