Signet Jewelers (NYSE:SIG) Trading Down 3.2% – Here’s Why

Signet Jewelers Limited (NYSE:SIG) shares traded down 3.2% during trading on Thursday . The stock traded as low as $77.77 and last traded at $78.14. 319,934 shares were traded during trading, a decline of 63% from the average session volume of 857,751 shares. The stock had previously closed at $80.71.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SIG. UBS Group decreased their price target on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Bank of America decreased their price objective on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Telsey Advisory Group restated a “market perform” rating and set a $87.00 price target on shares of Signet Jewelers in a research note on Thursday, December 5th. Finally, Wells Fargo & Company increased their price objective 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.60.

Signet Jewelers Stock Down 0.8 %

The business’s 50-day simple moving average is $90.69 and its 200 day simple moving average is $88.65. The firm has a market cap of $3.36 billion, a PE ratio of 8.90, a P/E/G ratio of 1.04 and a beta of 2.13. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14.

Signet Jewelers (NYSE:SIG) last announced its earnings results on Thursday, December 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the business posted $0.24 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts expect that Signet Jewelers Limited will post 9.88 earnings per share for the current year.

Signet Jewelers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, January 24th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.16 dividend on an annualized basis and a yield of 1.50%. Signet Jewelers’s payout ratio is 13.35%.

Insiders Place Their Bets

In other Signet Jewelers news, CEO Virginia Drosos sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $101.25, for a total transaction of $60,750.00. Following the completion of the transaction, the chief executive officer now directly owns 728,220 shares of the company’s stock, valued at approximately $73,732,275. This trade represents a 0.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joan M. Hilson sold 8,000 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $94.57, for a total transaction of $756,560.00. Following the completion of the sale, the insider now directly owns 200,844 shares in the company, valued at $18,993,817.08. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,170 shares of company stock valued at $1,573,500. 3.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new position in shares of Signet Jewelers during the third quarter valued at approximately $25,000. Brown Brothers Harriman & Co. purchased a new position in Signet Jewelers during the second quarter worth approximately $51,000. Erste Asset Management GmbH acquired a new position in Signet Jewelers during the third quarter worth $77,000. CWM LLC boosted its position in shares of Signet Jewelers by 177.3% during the 3rd quarter. CWM LLC now owns 1,148 shares of the company’s stock valued at $118,000 after acquiring an additional 734 shares during the last quarter. Finally, KBC Group NV raised its stake in Signet Jewelers by 25.5% during the third quarter. KBC Group NV now owns 1,293 shares of the company’s stock worth $133,000 after purchasing an additional 263 shares during the period.

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.