Signet Jewelers Limited (SIG) Declares $0.31 Quarterly Dividend
Signet Jewelers Limited (NYSE:SIG) announced a quarterly dividend on Thursday, August 24th, Zacks reports. Investors of record on Friday, October 27th will be given a dividend of 0.31 per share on Thursday, November 30th. This represents a $1.24 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, October 26th.
Signet Jewelers Limited has raised its dividend by an average of 20.6% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Signet Jewelers Limited has a payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Signet Jewelers Limited to earn $7.10 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 17.5%.
Signet Jewelers Limited (NYSE:SIG) traded up 5.75% during midday trading on Friday, hitting $64.02. The company had a trading volume of 2,987,532 shares. Signet Jewelers Limited has a 52-week low of $46.09 and a 52-week high of $101.46. The stock has a market cap of $4.38 billion, a PE ratio of 10.17 and a beta of 1.00. The stock’s 50-day moving average price is $58.55 and its 200-day moving average price is $63.04. Signet Jewelers Limited also saw unusually large options trading activity on Wednesday. Stock traders purchased 13,585 put options on the company. This represents an increase of approximately 501% compared to the typical volume of 2,261 put options.
Signet Jewelers Limited (NYSE:SIG) last released its earnings results on Thursday, August 24th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Signet Jewelers Limited had a net margin of 7.46% and a return on equity of 19.20%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts expect that Signet Jewelers Limited will post $6.68 EPS for the current fiscal year.
A number of research analysts have recently weighed in on the stock. Instinet restated a “buy” rating and set a $70.00 price target on shares of Signet Jewelers Limited in a report on Wednesday, June 21st. Wells Fargo & Company restated an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of Signet Jewelers Limited in a report on Thursday. Needham & Company LLC set a $69.00 price target on shares of Signet Jewelers Limited and gave the company a “buy” rating in a report on Friday. Telsey Advisory Group raised their price target on shares of Signet Jewelers Limited from $60.00 to $66.00 and gave the company a “market perform” rating in a report on Friday. Finally, Buckingham Research raised their price target on shares of Signet Jewelers Limited from $51.00 to $55.00 and gave the company a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $71.94.
In other Signet Jewelers Limited news, Director H. Todd Stitzer bought 2,090 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $47.91 per share, for a total transaction of $100,131.90. Following the transaction, the director now owns 16,823 shares in the company, valued at $805,989.93. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.
About Signet Jewelers Limited
Signet Jewelers Limited is a retailer of diamond jewelry. The Company’s segments include the Sterling Jewelers division; the Zale division, which consists of the Zale Jewelry and Piercing Pagoda segments; the UK Jewelry division, and Other. The Sterling Jewelers division’s stores operate in the United States principally as Kay Jewelers (Kay), Kay Jewelers Outlet, Jared The Galleria Of Jewelry (Jared) and Jared Vault.
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