Telsey Advisory Group Reiterates “Market Perform” Rating for Signet Jewelers (NYSE:SIG)

Telsey Advisory Group reiterated their market perform rating on shares of Signet Jewelers (NYSE:SIG) in a report published on Wednesday morning,Benzinga reports. They currently have a $87.00 target price on the stock.

A number of other research firms also recently commented on SIG. Wells Fargo & Company upped their price objective on Signet Jewelers from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America dropped their price objective on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. StockNews.com cut Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, UBS Group reduced their price objective 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $109.60.

Signet Jewelers Stock Performance

Shares of SIG stock opened at $99.98 on Wednesday. Signet Jewelers has a 52 week low of $72.26 and a 52 week high of $112.06. The stock’s fifty day moving average is $97.03 and its 200-day moving average is $91.61. The stock has a market capitalization of $4.40 billion, a PE ratio of 11.57, a PEG ratio of 1.18 and a beta of 2.12.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Thursday, September 12th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the company earned $1.55 EPS. As a group, analysts forecast that Signet Jewelers will post 10.8 earnings per share for the current fiscal year.

Signet Jewelers Announces Dividend

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

Insider Activity at Signet Jewelers

In other Signet Jewelers news, insider Mary Elizabeth Finn sold 3,763 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $92.32, for a total transaction of $347,400.16. Following the transaction, the insider now owns 43,058 shares in the company, valued at $3,975,114.56. This represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Virginia Drosos sold 3,475 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $101.67, for a total value of $353,303.25. Following the transaction, the chief executive officer now owns 775,345 shares in the company, valued at approximately $78,829,326.15. This trade represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,957 shares of company stock worth $4,599,306. Insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIG. Select Equity Group L.P. increased its position in Signet Jewelers by 2.9% during the 2nd quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock worth $622,562,000 after purchasing an additional 193,977 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 during the period. Pacer Advisors Inc. boosted its holdings in Signet Jewelers by 6.5% in the second quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock valued at $185,347,000 after acquiring an additional 126,726 shares during the last quarter. State Street Corp boosted its stake in shares of Signet Jewelers by 1.0% in the 3rd quarter. State Street Corp now owns 1,756,075 shares of the company’s stock valued at $181,122,000 after purchasing an additional 16,912 shares during the last quarter. Finally, Eminence Capital LP grew its holdings in Signet Jewelers by 71.3% during the 2nd quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock worth $75,644,000 after acquiring an additional 351,588 shares during the period.

About Signet Jewelers

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.