StockNews.com Lowers Signet Jewelers (NYSE:SIG) to Hold

by · The Markets Daily

StockNews.com lowered shares of Signet Jewelers (NYSE:SIG – Free Report) from a buy rating to a hold rating in a research report released on Wednesday.

Several other research firms have also recently weighed in on SIG. Citigroup restated a buy rating and set a $119.00 price target on shares of Signet Jewelers in a report on Friday, June 14th. Telsey Advisory Group reissued a market perform rating and set a $87.00 target price on shares of Signet Jewelers in a report on Wednesday. UBS Group dropped their price target on shares of Signet Jewelers from $145.00 to $132.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Bank of America reduced 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 note on Friday, September 13th. Finally, 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Signet Jewelers currently has a consensus rating of Moderate Buy and a consensus price target of $108.60.

Check Out Our Latest Stock Analysis on Signet Jewelers

Signet Jewelers Trading Up 2.9 %

Shares of NYSE SIG opened at $98.07 on Wednesday. The company has a market cap of $4.32 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 1.07 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 has a 50-day moving average price of $84.71 and a two-hundred day moving average price of $92.00.

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

Signet Jewelers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 1.18%. Signet Jewelers’s dividend payout ratio (DPR) is currently 9.43%.

Insider Transactions at Signet Jewelers

In other Signet Jewelers news, insider Jamie Singleton sold 18,105 shares of Signet Jewelers stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $83.11, for a total value of $1,504,706.55. Following the completion of the sale, the insider now directly owns 162,942 shares in the company, valued at approximately $13,542,109.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Jamie Singleton sold 18,105 shares of Signet Jewelers stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $83.11, for a total value of $1,504,706.55. Following the completion of the sale, the insider now owns 162,942 shares in the company, valued at $13,542,109.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Oded Edelman sold 1,398 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $94.53, for a total transaction of $132,152.94. Following the transaction, the insider now directly owns 32,666 shares in the company, valued at approximately $3,087,916.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,892 shares of company stock valued at $6,536,982. Corporate insiders own 3.26% of the company’s stock.

Institutional Trading of Signet Jewelers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new stake in shares of Signet Jewelers during the second quarter valued at approximately $51,000. Hexagon Capital Partners LLC raised its holdings in Signet Jewelers by 33.4% during the second quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock worth $63,000 after buying an additional 175 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Signet Jewelers by 15.3% in the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after buying an additional 122 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Signet Jewelers during the second quarter valued at about $180,000. Finally, Lazard Asset Management LLC increased its position in shares of Signet Jewelers by 6.8% during the first quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock worth $183,000 after acquiring an additional 116 shares in the last quarter.

Signet Jewelers Company Profile

(Get Free Report)

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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