Signet Jewelers (NYSE:SIG) Reaches New 1-Year Low – Should You Sell?

Signet Jewelers Limited (NYSE:SIG) hit a new 52-week low on Tuesday . The company traded as low as $59.67 and last traded at $61.08, with a volume of 1429714 shares. The stock had previously closed at $74.04.

Wall Street Analysts Forecast Growth

SIG has been the subject of a number of research reports. StockNews.com cut Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Bank of America decreased their price objective on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday. Telsey Advisory Group dropped their target price on Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company reduced their price target on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday. Three investment 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 has a consensus rating of “Moderate Buy” and an average target price of $95.20.

Signet Jewelers Trading Up 1.6 %

The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 6.78, a P/E/G ratio of 0.95 and a beta of 2.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.55 and a quick ratio of 0.25. The business has a 50-day moving average of $87.24 and a 200-day moving average of $87.61.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.05). Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the business earned $0.24 EPS. The business’s revenue was down 3.1% compared to the same quarter last year. Research analysts anticipate that Signet Jewelers Limited will post 9.88 EPS for the current year.

Signet Jewelers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, January 24th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, January 24th. Signet Jewelers’s dividend payout ratio is 13.35%.

Insider Buying and Selling at Signet Jewelers

In related news, insider Joan M. Hilson sold 8,000 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $94.57, for a total value of $756,560.00. Following the transaction, the insider now owns 200,844 shares in the company, valued at approximately $18,993,817.08. This represents a 3.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eugenia Ulasewicz sold 3,333 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $99.63, for a total value of $332,066.79. Following the sale, the director now owns 26,085 shares of the company’s stock, valued at approximately $2,598,848.55. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

Hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in Signet Jewelers during the third quarter worth about $25,000. Brown Brothers Harriman & Co. bought a new stake in Signet Jewelers in the 2nd quarter valued at about $51,000. Erste Asset Management GmbH acquired a new position in shares of Signet Jewelers during the 3rd quarter worth approximately $77,000. CWM LLC increased its holdings in shares of Signet Jewelers by 177.3% during the third quarter. CWM LLC now owns 1,148 shares of the company’s stock worth $118,000 after purchasing an additional 734 shares during the period. Finally, KBC Group NV raised its position in shares of Signet Jewelers by 25.5% in the third quarter. KBC Group NV now owns 1,293 shares of the company’s stock valued at $133,000 after buying an additional 263 shares in the last quarter.

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.