Signet Jewelers (NYSE:SIG) Sees Strong Trading Volume Following Better-Than-Expected Earnings

Shares of Signet Jewelers Limited (NYSE:SIG) saw unusually-strong trading volume on Friday following a better than expected earnings announcement. Approximately 1,367,407 shares were traded during trading, an increase of 85% from the previous session’s volume of 737,228 shares.The stock last traded at $87.04 and had previously closed at $92.25.

The company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.82 by $0.29. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. Signet Jewelers had a net margin of 11.30% and a return on equity of 32.26%. The firm’s revenue was down 9.4% compared to the same quarter last year. During the same period last year, the company earned $1.78 EPS.

Signet Jewelers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be given a $0.29 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.33%. Signet Jewelers’s dividend payout ratio (DPR) is currently 7.74%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SIG shares. Citigroup restated a “buy” rating and issued a $119.00 price target on shares of Signet Jewelers in a research report on Friday. UBS Group boosted their price target on shares of Signet Jewelers from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Bank of America dropped their price target on shares of Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, March 21st. StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $110.00 price target on shares of Signet Jewelers in a research report on Thursday. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.20.

Insider Activity

In other news, Director H. Todd Stitzer sold 10,000 shares of Signet Jewelers stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $100.09, for a total value of $1,000,900.00. Following the completion of the sale, the director now owns 41,678 shares in the company, valued at approximately $4,171,551.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Signet Jewelers news, insider William Brace sold 3,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $99.00, for a total transaction of $297,000.00. Following the completion of the sale, the insider now owns 75,664 shares in the company, valued at approximately $7,490,736. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director H. Todd Stitzer sold 10,000 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $100.09, for a total transaction of $1,000,900.00. Following the sale, the director now owns 41,678 shares of the company’s stock, valued at approximately $4,171,551.02. The disclosure for this sale can be found here. Insiders sold 35,431 shares of company stock worth $3,444,267 in the last quarter. 3.26% of the stock is owned by corporate insiders.

Institutional Trading of Signet Jewelers

Hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Partners bought a new stake in shares of Signet Jewelers in the 1st quarter worth $1,088,000. Cetera Advisors LLC bought a new stake in shares of Signet Jewelers in the 1st quarter worth $1,093,000. Tidal Investments LLC bought a new stake in shares of Signet Jewelers in the 1st quarter worth $293,000. Janus Henderson Group PLC grew its stake in shares of Signet Jewelers by 38.2% in the 1st quarter. Janus Henderson Group PLC now owns 656,005 shares of the company’s stock worth $65,646,000 after acquiring an additional 181,207 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Signet Jewelers in the 1st quarter worth $228,000.

Signet Jewelers Stock Performance

The stock has a market cap of $3.88 billion, a P/E ratio of 5.81, a price-to-earnings-growth ratio of 1.20 and a beta of 2.12. The company’s 50 day moving average price is $100.57 and its 200-day moving average price is $99.76.

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.