Signet Jewelers (NYSE:SIG) Stock Rating Reaffirmed by Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Signet Jewelers (NYSE:SIG) in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $87.00 price target on the stock.

Several other brokerages have also recently issued reports on SIG. 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 research note on Friday, September 13th. Citigroup reissued a buy rating and issued a $119.00 price target on shares of Signet Jewelers in a report on Friday, June 14th. UBS Group lowered their price target on shares of Signet Jewelers from $145.00 to $132.00 and set a buy rating on the stock in a research note on Wednesday, September 11th. StockNews.com upgraded shares of Signet Jewelers from a hold rating to a buy rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company lowered their target price on shares of Signet Jewelers from $125.00 to $105.00 and set an overweight rating on the stock in a research report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $108.60.

Signet Jewelers Price Performance

Shares of NYSE:SIG opened at $98.07 on Wednesday. The firm’s 50-day moving average is $84.71 and its two-hundred day moving average is $92.00. Signet Jewelers has a 1 year low of $65.12 and a 1 year high of $112.06. The firm has a market capitalization of $4.32 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 1.07 and a beta of 2.10.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Thursday, September 12th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The firm’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.55 EPS. Analysts expect that Signet Jewelers will post 10.8 EPS for the current fiscal year.

Signet Jewelers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 1.18%. Signet Jewelers’s payout ratio is 9.43%.

Insiders Place Their Bets

In other news, insider Oded Edelman sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $74.55, for a total value of $670,950.00. Following the sale, the insider now directly owns 28,398 shares in the company, valued at $2,117,070.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Signet Jewelers news, CEO Virginia Drosos sold 3,475 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $101.67, for a total value of $353,303.25. Following the transaction, the chief executive officer now directly owns 775,345 shares in the company, valued at approximately $78,829,326.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Oded Edelman sold 9,000 shares of Signet Jewelers stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $74.55, for a total transaction of $670,950.00. Following the sale, the insider now owns 28,398 shares of the company’s stock, valued at approximately $2,117,070.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,892 shares of company stock worth $6,536,982. Insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

Institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC raised its holdings in Signet Jewelers by 6.8% in the 1st quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after acquiring an additional 116 shares during the last quarter. Blue Trust Inc. grew its position in shares of Signet Jewelers by 15.3% in the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after purchasing an additional 122 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Signet Jewelers by 1.4% in the second quarter. SummerHaven Investment Management LLC now owns 10,405 shares of the company’s stock valued at $932,000 after purchasing an additional 144 shares during the period. PNC Financial Services Group Inc. increased its stake in Signet Jewelers by 5.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock valued at $303,000 after purchasing an additional 156 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in Signet Jewelers by 33.4% during the second quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock worth $63,000 after buying an additional 175 shares during the period.

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.