Signet Jewelers (NYSE:SIG) Hits New 52-Week Low – What’s Next?

Signet Jewelers Limited (NYSE:SIG) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $59.67 and last traded at $61.08, with a volume of 1429714 shares traded. The stock had previously closed at $74.04.

Analysts Set New Price Targets

SIG has been the subject of several research reports. StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Telsey Advisory Group decreased their price target on shares of Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday. Wells Fargo & Company dropped their price objective on shares of Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Bank of America reduced their price objective on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Signet Jewelers has an average rating of “Moderate Buy” and an average target price of $95.20.

Signet Jewelers Stock Up 1.6 %

The firm’s 50 day moving average price is $87.24 and its 200-day moving average price is $87.61. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The company has a market cap of $2.56 billion, a P/E ratio of 6.78, a price-to-earnings-growth ratio of 0.95 and a beta of 2.13.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Thursday, December 5th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company earned $0.24 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities research analysts expect that Signet Jewelers Limited will post 9.88 EPS for the current year.

Signet Jewelers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, January 24th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.97%. Signet Jewelers’s dividend payout ratio (DPR) is presently 13.35%.

Insider Activity at Signet Jewelers

In related news, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $94.57, for a total transaction of $756,560.00. Following the completion of the transaction, the insider now owns 200,844 shares in the company, valued at approximately $18,993,817.08. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $99.63, for a total transaction of $332,066.79. Following the completion of the sale, the director now owns 26,085 shares in the company, valued at approximately $2,598,848.55. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Khrom Capital Management LLC bought a new stake in shares of Signet Jewelers in the second quarter worth about $58,357,000. Eminence Capital LP grew its position in shares of Signet Jewelers by 71.3% in the 2nd 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 during the period. Select Equity Group L.P. increased its stake 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 raised 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. Finally, Pacer Advisors Inc. lifted its stake 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 buying an additional 126,726 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.