Signet Jewelers Limited (SIG) Trading Up 6.3% on Earnings Beat
Shares of Signet Jewelers Limited (NYSE:SIG) were up 6.3% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $63.99 and last traded at $64.34, with a volume of 3,555,704 shares trading hands. The stock had previously closed at $60.54.
The company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the prior year, the business posted $1.14 earnings per share. Signet Jewelers Limited’s revenue was up 1.9% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, October 27th will be issued a $0.31 dividend. The ex-dividend date is Thursday, October 26th. This represents a $1.24 annualized dividend and a yield of 1.98%. Signet Jewelers Limited’s dividend payout ratio is currently 19.97%.
Several research firms have weighed in on SIG. BidaskClub lowered shares of Signet Jewelers Limited from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Bank of America Corp reiterated a “buy” rating and issued a $75.00 target price (down from $90.00) on shares of Signet Jewelers Limited in a report on Sunday, May 28th. Telsey Advisory Group cut their target price on shares of Signet Jewelers Limited from $75.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, May 26th. Needham & Company LLC set a $69.00 target price on shares of Signet Jewelers Limited and gave the stock a “buy” rating in a report on Saturday, August 19th. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $75.00 target price (up from $70.00) on shares of Signet Jewelers Limited in a report on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $72.13.
In related news, Director H. Todd Stitzer acquired 2,090 shares of the stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $47.91 per share, with a total value of $100,131.90. Following the completion of the transaction, the director now directly owns 16,823 shares of the company’s stock, valued at $805,989.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Commonwealth Bank of Australia increased its stake in shares of Signet Jewelers Limited by 5.6% in the second quarter. Commonwealth Bank of Australia now owns 1,609 shares of the company’s stock valued at $101,000 after buying an additional 85 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Signet Jewelers Limited during the first quarter worth $115,000. Capstone Investment Advisors Netherlands B.V. acquired a new position in Signet Jewelers Limited during the second quarter worth $121,000. Tower Research Capital LLC TRC increased its position in Signet Jewelers Limited by 19.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,016 shares of the company’s stock worth $128,000 after buying an additional 335 shares during the period. Finally, James Investment Research Inc. acquired a new position in Signet Jewelers Limited during the first quarter worth $133,000.
The firm’s 50-day moving average price is $58.58 and its 200-day moving average price is $62.96. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 9.96 and a beta of 1.00. Signet Jewelers Limited also was the target of some unusual options trading on Wednesday. Investors bought 13,585 put options on the company. This is an increase of approximately 501% compared to the average daily volume of 2,261 put options.
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.
Receive News & Stock Ratings for Signet Jewelers Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signet Jewelers Limited and related stocks with our FREE daily email newsletter.