Signet Jewelers (NYSE:SIG) Announces Quarterly Earnings Results

Signet Jewelers (NYSE:SIGGet Rating) posted its quarterly earnings results on Thursday. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.48, Briefing.com reports. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. Signet Jewelers had a net margin of 9.84% and a return on equity of 51.76%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 earnings per share.

Shares of SIG traded down $5.99 during mid-day trading on Friday, hitting $61.84. 16,294 shares of the company’s stock traded hands, compared to its average volume of 1,269,937. The business’s 50-day moving average price is $67.29 and its 200-day moving average price is $77.40. Signet Jewelers has a 1 year low of $48.31 and a 1 year high of $111.92. The firm has a market capitalization of $3.08 billion, a P/E ratio of 5.12, a PEG ratio of 0.69 and a beta of 2.39. The company has a quick ratio of 0.81, a current ratio of 1.80 and a debt-to-equity ratio of 0.09.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, July 29th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.29%. The ex-dividend date is Thursday, July 28th. Signet Jewelers’s dividend payout ratio (DPR) is currently 6.56%.

Several research firms have recently weighed in on SIG. Wells Fargo & Company cut their price target on Signet Jewelers from $140.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, April 5th. Citigroup reduced their price objective on shares of Signet Jewelers from $94.00 to $76.00 in a research note on Friday. Telsey Advisory Group dropped their target price on Signet Jewelers from $100.00 to $85.00 and set a “market perform” rating on the stock in a research report on Friday. StockNews.com raised Signet Jewelers from a “hold” rating to a “buy” rating in a report on Saturday, March 26th. Finally, Zacks Investment Research lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating and set a $66.00 price target for the company. in a research report on Thursday, May 19th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Signet Jewelers presently has a consensus rating of “Hold” and a consensus price target of $88.43.

In other Signet Jewelers news, CEO Virginia Drosos sold 20,000 shares of the stock in a transaction on Monday, March 21st. The stock was sold at an average price of $80.80, for a total value of $1,616,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian A. Tilzer sold 2,750 shares of the business’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $83.86, for a total transaction of $230,615.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,939 shares of company stock worth $5,832,962. 1.76% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd lifted its stake in shares of Signet Jewelers by 249.0% in the first quarter. Dynamic Technology Lab Private Ltd now owns 10,750 shares of the company’s stock worth $782,000 after buying an additional 7,670 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Signet Jewelers in the first quarter worth $620,000. Lombard Odier Asset Management USA Corp bought a new position in shares of Signet Jewelers during the fourth quarter valued at $528,000. LPL Financial LLC raised its position in Signet Jewelers by 30.9% in the 4th quarter. LPL Financial LLC now owns 5,611 shares of the company’s stock worth $488,000 after buying an additional 1,323 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new stake in shares of Signet Jewelers during the 1st quarter valued at about $479,000. 94.80% of the stock is owned by institutional investors.

Signet Jewelers Company Profile (Get Rating)

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 Jewelers, Zales Outlet, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through JamesAllen.com and Rocksbox.

Recommended Stories

Earnings History for Signet Jewelers (NYSE:SIG)

Receive News & Ratings for Signet Jewelers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signet Jewelers and related companies with MarketBeat.com's FREE daily email newsletter.