Signet Jewelers (NYSE:SIG) Updates FY 2024 Earnings Guidance

Signet Jewelers (NYSE:SIG – Get Rating) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of $11.07-$11.59 for the period, compared to the consensus earnings per share estimate of $10.68. The company issued revenue guidance of $7.67 billion-$7.84 billion, compared to the consensus revenue estimate of $7.89 billion. Signet Jewelers also updated its FY24 guidance to $11.07 to $11.59 EPS.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Signet Jewelers from $90.00 to $100.00 in a report on Friday. Citigroup increased their price objective on Signet Jewelers from $60.00 to $77.00 in a report on Wednesday, December 7th. Bank of America increased their price objective on Signet Jewelers from $65.00 to $75.00 and gave the company a neutral rating in a report on Wednesday, December 7th. Telsey Advisory Group reissued a market perform rating and issued a $75.00 price objective on shares of Signet Jewelers in a report on Thursday. Finally, UBS Group increased their price objective on Signet Jewelers from $92.00 to $98.00 in a report on Friday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $85.00.

Signet Jewelers Trading Down 2.9 %

Shares of Signet Jewelers stock opened at $73.30 on Friday. The business has a fifty day simple moving average of $74.56 and a two-hundred day simple moving average of $66.60. Signet Jewelers has a 1 year low of $48.31 and a 1 year high of $84.11. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 0.83 and a beta of 2.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.37.

Signet Jewelers (NYSE:SIG – Get Rating) last announced its quarterly earnings results on Thursday, March 16th. The company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.35 by $0.17. Signet Jewelers had a return on equity of 46.64% and a net margin of 4.80%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter last year, the firm posted $5.01 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis. Research analysts forecast that Signet Jewelers will post 11.45 EPS for the current year.

Signet Jewelers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, April 28th will be given a dividend of $0.23 per share. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $0.92 annualized dividend and a yield of 1.26%. Signet Jewelers’s dividend payout ratio (DPR) is presently 12.68%.

Insiders Place Their Bets

In other Signet Jewelers news, insider Stash Ptak sold 1,000 shares of the stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the transaction, the insider now owns 34,333 shares in the company, valued at approximately $2,574,975. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Signet Jewelers news, insider Stash Ptak sold 1,000 shares of the stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the transaction, the insider now owns 34,333 shares in the company, valued at approximately $2,574,975. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Virginia Drosos sold 10,000 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $73.62, for a total value of $736,200.00. Following the transaction, the chief executive officer now owns 925,305 shares in the company, valued at approximately $68,120,954.10. The disclosure for this sale can be found here. Insiders have sold 21,000 shares of company stock worth $1,570,000 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Advisor Partners II LLC increased its position in shares of Signet Jewelers by 8.5% in the fourth quarter. Advisor Partners II LLC now owns 4,995 shares of the company’s stock worth $340,000 after purchasing an additional 393 shares during the period. Royal Bank of Canada grew its position in Signet Jewelers by 36.2% in the third quarter. Royal Bank of Canada now owns 5,444 shares of the company’s stock valued at $311,000 after acquiring an additional 1,447 shares during the last quarter. Mariner LLC bought a new position in Signet Jewelers in the fourth quarter valued at about $299,000. XTX Topco Ltd bought a new position in Signet Jewelers in the first quarter valued at about $280,000. Finally, Pathstone Family Office LLC grew its position in Signet Jewelers by 9.7% in the third quarter. Pathstone Family Office LLC now owns 4,856 shares of the company’s stock valued at $278,000 after acquiring an additional 430 shares during the last quarter. Institutional investors own 97.88% of the company’s stock.

Signet Jewelers Company Profile

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Signet Jewelers Ltd. engages in the retail of diamond jewelry. It operates through the following business segments: North America, International, and Others. The North America segment operates jewelry stores in malls, mall-based kiosks, and off-mall locations throughout the U.S. and Canada. The International sells primarily in the UK and Ireland under the H.