Signet Jewelers’ (SIG) “Market Perform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Signet Jewelers (NYSE:SIG) in a report issued on Wednesday,Benzinga reports. Telsey Advisory Group currently has a $87.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company boosted their price target on Signet Jewelers from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com lowered Signet Jewelers from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. 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 report on Wednesday, September 11th. 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Signet Jewelers currently has an average rating of “Moderate Buy” and an average price target of $109.60.

Signet Jewelers Stock Performance

SIG opened at $100.32 on Wednesday. The company has a market cap of $4.42 billion, a P/E ratio of 11.60, a PEG ratio of 1.13 and a beta of 2.12. The business’s 50-day simple moving average is $97.22 and its 200-day simple moving average is $91.73. Signet Jewelers has a one year low of $72.26 and a one year high of $112.06.

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

Signet Jewelers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.16 annualized dividend and a dividend yield of 1.16%. Signet Jewelers’s dividend payout ratio is currently 13.43%.

Insider Activity at Signet Jewelers

In related news, CEO Virginia Drosos sold 3,475 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $101.67, for a total value of $353,303.25. Following the completion of the sale, the chief executive officer now owns 775,345 shares in the company, valued at $78,829,326.15. This trade represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rebecca Wooters sold 22,151 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $99.00, for a total transaction of $2,192,949.00. Following the sale, the insider now directly owns 68,343 shares in the company, valued at approximately $6,765,957. This represents a 24.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,957 shares of company stock worth $4,599,306 over the last three months. 3.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Signet Jewelers

Hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in Signet Jewelers during the third quarter worth $25,000. Brown Brothers Harriman & Co. acquired a new position in shares of Signet Jewelers during the 2nd quarter worth $51,000. Hexagon Capital Partners LLC boosted its position 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 worth $63,000 after buying an additional 175 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Signet Jewelers in the 3rd quarter valued at about $77,000. Finally, Blue Trust Inc. increased its holdings in 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 in 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.