Signet Jewelers Limited (NYSE:SIG) Plans Dividend Increase – $0.32 Per Share

by · The Markets Daily

Signet Jewelers Limited (NYSE:SIG – Get Free Report) announced a quarterly dividend on Thursday, March 20th, Wall Street Journal reports. Shareholders of record on Friday, April 25th will be paid a dividend of 0.32 per share on Friday, May 23rd. This represents a $1.28 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Friday, April 25th. This is a 10.3% increase from Signet Jewelers’s previous quarterly dividend of $0.29.

Signet Jewelers has raised its dividend by an average of 29.0% annually over the last three years. Signet Jewelers has a payout ratio of 11.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Signet Jewelers to earn $8.91 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 13.0%.

Signet Jewelers Price Performance

Shares of SIG traded down $0.34 on Thursday, hitting $56.31. The company’s stock had a trading volume of 2,293,428 shares, compared to its average volume of 1,062,951. The company has a market capitalization of $2.45 billion, a PE ratio of 6.48, a PEG ratio of 3.43 and a beta of 2.20. Signet Jewelers has a fifty-two week low of $45.55 and a fifty-two week high of $112.06. The company has a 50 day moving average price of $55.25 and a 200 day moving average price of $78.66. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 0.25.

Signet Jewelers (NYSE:SIG – Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 EPS for the quarter, topping analysts’ consensus estimates of $6.39 by $0.23. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the firm earned $6.73 earnings per share. The business’s revenue was down 5.8% on a year-over-year basis. On average, research analysts anticipate that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Signet Jewelers

In related news, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $54.13, for a total value of $180,415.29. Following the sale, the director now directly owns 22,752 shares in the company, valued at $1,231,565.76. This trade represents a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.26% of the company’s stock.

Analysts Set New Price Targets

SIG has been the topic of a number of research reports. UBS Group upped their target price on shares of Signet Jewelers from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com lowered Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Bank of America dropped their target price on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Wells Fargo & Company decreased their price target on Signet Jewelers from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $55.00 price objective on shares of Signet Jewelers in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.60.

Check Out Our Latest Stock Analysis on Signet Jewelers

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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