Signet Jewelers (NYSE:SIG) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Signet Jewelers (NYSE:SIG) from a buy rating to a hold rating in a report released on Wednesday.

A number of other brokerages have also issued reports on SIG. Wells Fargo & Company reduced their target price on shares of Signet Jewelers from $125.00 to $105.00 and set an overweight rating on the stock in a research report on Tuesday, August 27th. Telsey Advisory Group reiterated a market perform rating and set a $87.00 price objective on shares of Signet Jewelers in a report on Wednesday. Bank of America cut their price objective on shares of Signet Jewelers from $108.00 to $100.00 and set a neutral rating on the stock in a research report on Friday, September 13th. UBS Group reduced their price target on Signet Jewelers from $145.00 to $132.00 and set a buy rating for the company in a research report on Wednesday, September 11th. Finally, Citigroup reissued a buy rating and issued a $119.00 price objective on shares of Signet Jewelers in a research report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $108.60.

Signet Jewelers Price Performance

Shares of SIG opened at $98.07 on Wednesday. The firm’s 50 day moving average is $84.41 and its 200-day moving average is $92.02. The stock has a market capitalization of $4.37 billion, a P/E ratio of 7.97, a P/E/G ratio of 1.14 and a beta of 2.10. Signet Jewelers has a 12-month low of $65.12 and a 12-month high of $112.06.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, September 12th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.11. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The firm’s revenue was down 7.6% compared to the same quarter last year. During the same period last year, the business posted $1.55 earnings per share. As a group, equities research analysts forecast that Signet Jewelers will post 10.8 EPS for the current fiscal year.

Signet Jewelers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, October 25th. Signet Jewelers’s dividend payout ratio is currently 9.43%.

Insider Buying and Selling at Signet Jewelers

In related news, insider Rebecca Wooters sold 22,151 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $99.00, for a total transaction of $2,192,949.00. Following the sale, the insider now owns 68,343 shares of the company’s stock, valued at $6,765,957. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Signet Jewelers news, insider Rebecca Wooters sold 22,151 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $99.00, for a total transaction of $2,192,949.00. Following the sale, the insider now directly owns 68,343 shares in the company, valued at $6,765,957. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Oded Edelman sold 1,398 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $94.53, for a total transaction of $132,152.94. Following the completion of the transaction, the insider now directly owns 32,666 shares in the company, valued at approximately $3,087,916.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,892 shares of company stock valued at $6,536,982 in the last quarter. Company insiders own 3.26% of the company’s stock.

Institutional Trading of Signet Jewelers

Several institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its position in Signet Jewelers by 5.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock valued at $303,000 after buying an additional 156 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Signet Jewelers during the 4th quarter worth $1,370,000. TD Asset Management Inc increased its holdings in Signet Jewelers by 8.3% in the 4th quarter. TD Asset Management Inc now owns 23,500 shares of the company’s stock worth $2,521,000 after purchasing an additional 1,800 shares in the last quarter. Allianz Asset Management GmbH raised its position in Signet Jewelers by 52.3% in the fourth quarter. Allianz Asset Management GmbH now owns 19,445 shares of the company’s stock valued at $2,086,000 after purchasing an additional 6,679 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Signet Jewelers during the fourth quarter valued at about $694,000.

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.