Signet Jewelers (NYSE:SIG) Trading Up 11.3%

Shares of Signet Jewelers Ltd. (NYSE:SIG) were up 11.3% during mid-day trading on Thursday . The stock traded as high as $13.92 and last traded at $13.84, approximately 4,292,010 shares traded hands during trading. An increase of 129% from the average daily volume of 1,873,630 shares. The stock had previously closed at $12.44.

A number of equities research analysts have recently weighed in on SIG shares. Nomura lowered their price target on Signet Jewelers from $28.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Bank of America lowered their price target on Signet Jewelers from $30.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Zacks Investment Research upgraded Signet Jewelers from a “sell” rating to a “hold” rating and set a $15.00 price target for the company in a report on Monday, August 12th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $22.00 price target (down from $28.00) on shares of Signet Jewelers in a report on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $26.68.

The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.31 and a current ratio of 2.07. The firm has a market capitalization of $649.26 million, a P/E ratio of 3.55, a P/E/G ratio of 0.64 and a beta of 0.93. The stock has a fifty day moving average price of $16.25 and a two-hundred day moving average price of $21.43.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, June 6th. The company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.32. Signet Jewelers had a positive return on equity of 16.90% and a negative net margin of 2.76%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business earned $0.10 EPS. The business’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, research analysts anticipate that Signet Jewelers Ltd. will post 3.01 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 2nd will be issued a $0.37 dividend. The ex-dividend date is Thursday, August 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 11.85%. Signet Jewelers’s dividend payout ratio (DPR) is 39.78%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board boosted its position in Signet Jewelers by 65.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,119,035 shares of the company’s stock valued at $20,008,000 after purchasing an additional 444,017 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Signet Jewelers by 89.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 741,588 shares of the company’s stock valued at $13,261,000 after purchasing an additional 349,327 shares during the period. Atria Investments LLC acquired a new position in Signet Jewelers during the 2nd quarter valued at approximately $71,822,000. Vanguard Group Inc. boosted its position in Signet Jewelers by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,121,445 shares of the company’s stock valued at $109,453,000 after purchasing an additional 243,959 shares during the period. Finally, Nuveen Asset Management LLC acquired a new position in Signet Jewelers during the 2nd quarter valued at approximately $3,886,000. Institutional investors and hedge funds own 99.56% of the company’s stock.

Signet Jewelers Company Profile (NYSE:SIG)

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. As of February 02, 2019, it operated 3,334 stores and kiosks. The company operates through three segments: North America, International, and Other. The North America segment operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, Peoples Jewellers, Gordon's Jewelers, and Mappins Jewellers regional banners; and JamesAllen.com, an online jewelry retailer Website.

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