Shares of Signet Jewelers Ltd. (NYSE:SIG) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $78.79, but opened at $88.88. Signet Jewelers shares last traded at $90.79, with a volume of 5,864,000 shares traded.

The company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.10. Signet Jewelers had a return on equity of 18.70% and a net margin of 7.86%. The firm earned $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Friday, October 28th will be given a $0.26 dividend. The ex-dividend date is Wednesday, October 26th. This represents a $1.04 annualized dividend and a yield of 1.15%. Signet Jewelers’s payout ratio is currently 15.90%.

Several analysts have weighed in on SIG shares. Johnson Rice downgraded Signet Jewelers from a “buy” rating to an “accumulate” rating in a research report on Monday, August 29th. Nomura reissued a “buy” rating and set a $104.00 target price on shares of Signet Jewelers in a research note on Monday, August 29th. Deutsche Bank AG reduced their target price on Signet Jewelers from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, August 23rd. Vetr cut Signet Jewelers from a “strong-buy” rating to a “buy” rating and set a $91.00 target price on the stock. in a research note on Wednesday, August 31st. Finally, Bank of America Corp. reissued a “buy” rating and set a $110.00 target price on shares of Signet Jewelers in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $106.59.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its position in shares of Signet Jewelers by 6.8% in the second quarter. Pacer Advisors Inc. now owns 1,561 shares of the company’s stock worth $129,000 after buying an additional 100 shares during the last quarter. SRB Corp increased its position in Signet Jewelers by 27.0% in the third quarter. SRB Corp now owns 1,654 shares of the company’s stock worth $123,000 after buying an additional 352 shares in the last quarter. MU Investments Co. Ltd. purchased a new position in Signet Jewelers during the second quarter worth $148,000. Virtus Investment Advisers Inc. purchased a new position in Signet Jewelers during the third quarter worth $146,000. Finally, Toronto Dominion Bank increased its position in Signet Jewelers by 429.6% in the third quarter. Toronto Dominion Bank now owns 2,198 shares of the company’s stock worth $164,000 after buying an additional 1,783 shares in the last quarter. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

The firm’s 50-day moving average price is $83.00 and its 200-day moving average price is $86.87. The stock has a market cap of $6.86 billion, a P/E ratio of 13.84 and a beta of 1.17.

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Signet Jewelers Company Profile

Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s segments are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment.

5 Day Chart for NYSE:SIG

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