Signet Jewelers (NYSE:SIG) Announces Earnings Results, Beats Expectations By $0.11 EPS

Signet Jewelers (NYSE:SIG) issued its earnings results on Thursday. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11, Briefing.com reports. Signet Jewelers had a return on equity of 32.51% and a net margin of 10.91%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The business’s revenue for the quarter was down 7.6% compared to the same quarter last year.

Signet Jewelers Trading Up 4.8 %

NYSE SIG traded up $4.21 during trading hours on Friday, hitting $91.15. 1,625,114 shares of the company’s stock were exchanged, compared to its average volume of 800,351. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 0.85 and a beta of 2.10. The stock has a 50-day simple moving average of $81.40 and a 200 day simple moving average of $92.26. Signet Jewelers has a 1-year low of $65.12 and a 1-year high of $112.06.

Signet Jewelers Dividend Announcement

The firm also recently disclosed 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, October 25th. Signet Jewelers’s dividend payout ratio is 9.43%.

Wall Street Analysts Forecast Growth

SIG has been the subject of several recent research reports. StockNews.com downgraded Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Telsey Advisory Group dropped their price target on shares of Signet Jewelers from $105.00 to $87.00 and set a “market perform” rating for the company in a research note on Monday, September 9th. Citigroup reissued a “buy” rating and issued a $119.00 price objective on shares of Signet Jewelers in a research note 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 for the company in a research report on Tuesday, August 27th. Finally, Bank of America reduced their price target on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Signet Jewelers presently has a consensus rating of “Moderate Buy” and an average price target of $108.60.

Insiders Place Their Bets

In other Signet Jewelers news, insider Mary Elizabeth Finn sold 8,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $80.00, for a total value of $640,000.00. Following the completion of the sale, the insider now directly owns 46,821 shares in the company, valued at $3,745,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Signet Jewelers news, insider Mary Elizabeth Finn sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $80.00, for a total value of $640,000.00. Following the completion of the sale, the insider now owns 46,821 shares of the company’s stock, valued at $3,745,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rebecca Wooters sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $90.34, for a total value of $271,020.00. Following the sale, the insider now owns 90,494 shares of the company’s stock, valued at approximately $8,175,227.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,439 shares of company stock worth $4,809,869. Corporate insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

Several hedge funds and other institutional investors have recently made changes to their positions in SIG. Select Equity Group L.P. grew its holdings 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 buying an additional 193,977 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Signet Jewelers by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock worth $213,809,000 after acquiring an additional 149,934 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Signet Jewelers by 6.5% in the second quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock valued at $185,347,000 after purchasing an additional 126,726 shares during the last quarter. Eminence Capital LP lifted its position in shares of Signet Jewelers by 71.3% during the second quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock valued at $75,644,000 after purchasing an additional 351,588 shares in the last quarter. Finally, Anomaly Capital Management LP boosted its holdings in Signet Jewelers by 12.4% during the second quarter. Anomaly Capital Management LP now owns 691,451 shares of the company’s stock worth $61,940,000 after purchasing an additional 76,534 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.