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

StockNews.com downgraded shares of Signet Jewelers (NYSE:SIG) from a buy rating to a hold rating in a report released on Thursday morning.

A number of other research analysts have also commented on SIG. UBS Group decreased their price objective on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $87.00 price target on shares of Signet Jewelers in a report on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Bank of America reduced their target price 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Signet Jewelers has a consensus rating of “Moderate Buy” and a consensus price target of $109.60.

Signet Jewelers Stock Performance

Shares of SIG stock opened at $97.16 on Thursday. Signet Jewelers has a 52 week low of $72.26 and a 52 week high of $112.06. The stock has a market capitalization of $4.28 billion, a PE ratio of 11.25, a PEG ratio of 1.10 and a beta of 2.12. The stock’s fifty day moving average is $95.01 and its 200-day moving average is $91.46.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Thursday, September 12th. The company reported $1.25 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 firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The company’s revenue was down 7.6% on a year-over-year basis. As a group, analysts forecast that Signet Jewelers will post 10.8 earnings per share for the current fiscal year.

Signet Jewelers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, October 25th. Signet Jewelers’s dividend payout ratio (DPR) is currently 13.43%.

Insider Transactions at Signet Jewelers

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $99.63, for a total transaction of $332,066.79. Following the transaction, the director now directly owns 26,085 shares in the company, valued at approximately $2,598,848.55. The trade was a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Virginia Drosos sold 3,475 shares of the stock in a transaction dated Thursday, September 26th. The stock was 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 of the company’s stock, valued at $78,829,326.15. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,957 shares of company stock worth $5,239,306. 3.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Signet Jewelers

Several institutional investors and hedge funds have recently modified their holdings of SIG. Khrom Capital Management LLC acquired a new position in Signet Jewelers during the 2nd quarter worth approximately $58,357,000. Eminence Capital LP grew its position in Signet Jewelers by 71.3% in the second quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock valued at $75,644,000 after purchasing an additional 351,588 shares in the last quarter. Select Equity Group L.P. grew its position in Signet Jewelers by 2.9% in the second quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock valued at $622,562,000 after purchasing an additional 193,977 shares in the last quarter. Janus Henderson Group PLC increased its stake in Signet Jewelers by 38.2% in the 1st quarter. Janus Henderson Group PLC now owns 656,005 shares of the company’s stock valued at $65,646,000 after buying an additional 181,207 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Signet Jewelers by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock worth $213,809,000 after buying an additional 149,934 shares in the last quarter.

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.