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 published on Wednesday morning.

Several other research firms have also issued reports on SIG. Telsey Advisory Group reiterated a market perform rating and issued a $105.00 target price on shares of Signet Jewelers in a research note on Wednesday, July 24th. Wells Fargo & Company dropped their price target 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. Finally, Citigroup restated a buy rating and set a $119.00 price target on shares of Signet Jewelers in a research note on Friday, June 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $116.20.

Signet Jewelers Trading Down 0.8 %

Shares of Signet Jewelers stock opened at $76.95 on Wednesday. The firm has a market cap of $3.43 billion, a P/E ratio of 6.26, a P/E/G ratio of 0.90 and a beta of 2.10. Signet Jewelers has a 12 month low of $65.12 and a 12 month high of $112.06. The stock’s fifty day moving average price is $82.02 and its 200-day moving average price is $92.99.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings results on Thursday, June 13th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.82 by $0.29. Signet Jewelers had a return on equity of 32.51% and a net margin of 10.91%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm posted $1.78 earnings per share. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. Analysts forecast that Signet Jewelers will post 10.6 earnings per share for the current year.

Signet Jewelers Dividend Announcement

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

Insider Buying and Selling

In related news, insider Mary Elizabeth Finn sold 8,000 shares of Signet Jewelers stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $80.00, for a total transaction 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 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 business’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 transaction, the insider now directly owns 46,821 shares of the company’s stock, valued at $3,745,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Oded Edelman sold 9,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 28,398 shares of the company’s stock, valued at $2,117,070.90. The disclosure for this sale can be found here. Insiders sold 57,439 shares of company stock valued at $4,809,869 over the last quarter. 3.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Select Equity Group L.P. increased its position in shares of Signet Jewelers by 2.9% in the second quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock valued at $622,562,000 after buying an additional 193,977 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Signet Jewelers by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock valued at $213,809,000 after buying an additional 149,934 shares in the last quarter. Pacer Advisors Inc. increased its position 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 buying an additional 126,726 shares in the last quarter. Eminence Capital LP increased its position in shares of Signet Jewelers by 71.3% in the second quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock valued at $75,644,000 after buying an additional 351,588 shares in the last quarter. Finally, Anomaly Capital Management LP increased its position in shares of Signet Jewelers by 12.4% in the second quarter. Anomaly Capital Management LP now owns 691,451 shares of the company’s stock valued at $61,940,000 after buying an additional 76,534 shares in 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.