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

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

Analyst Ratings Changes

SIG has been the topic of several recent research reports. Wells Fargo & Company increased their price target on Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $87.00 price objective on shares of Signet Jewelers in a report on Thursday, December 5th. UBS Group reduced 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 report on Wednesday, September 11th. Finally, Bank of America lowered their price objective on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.60.

Signet Jewelers Trading Down 3.4 %

The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average is $91.28 and its 200-day moving average is $88.82. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 1.04 and a beta of 2.10.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.37 billion. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the company earned $0.24 EPS. Research analysts anticipate that Signet Jewelers Limited will post 9.88 earnings per share for the current fiscal year.

Signet Jewelers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, January 24th will be issued a $0.29 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.16 annualized dividend and a yield of 1.49%. Signet Jewelers’s dividend payout ratio (DPR) is presently 13.35%.

Insider Buying and Selling at Signet Jewelers

In related news, insider Joan M. Hilson sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $94.57, for a total value of $756,560.00. Following the sale, the insider now owns 200,844 shares of the company’s stock, valued at $18,993,817.08. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mary Elizabeth Finn sold 4,237 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $100.10, for a total transaction of $424,123.70. Following the transaction, the insider now owns 38,821 shares of the company’s stock, valued at $3,885,982.10. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,170 shares of company stock valued at $1,573,500 over the last quarter. 3.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Signet Jewelers

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MidWestOne Financial Group Inc. boosted its position in shares of Signet Jewelers by 63.3% in the 2nd quarter. MidWestOne Financial Group Inc. now owns 16,974 shares of the company’s stock valued at $1,521,000 after purchasing an additional 6,579 shares during the period. Van ECK Associates Corp acquired a new stake in Signet Jewelers during the 2nd quarter worth approximately $1,797,000. Blueshift Asset Management LLC acquired a new position in shares of Signet Jewelers in the third quarter valued at approximately $2,853,000. Ensign Peak Advisors Inc raised its stake in shares of Signet Jewelers by 94.1% during the second quarter. Ensign Peak Advisors Inc now owns 30,483 shares of the company’s stock worth $2,731,000 after purchasing an additional 14,775 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in shares of Signet Jewelers in the 3rd quarter worth $977,000.

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.