Signet Jewelers Limited (NYSE:SIG) Announces Quarterly Dividend of $0.29

Signet Jewelers Limited (NYSE:SIG) announced a quarterly dividend on Thursday, September 12th, Zacks reports. Stockholders of record on Friday, October 25th will be paid a dividend of 0.29 per share on Friday, November 22nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, October 25th.

Signet Jewelers has raised its dividend payment by an average of 34.0% annually over the last three years. Signet Jewelers has a payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Signet Jewelers to earn $11.41 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 10.2%.

Signet Jewelers Price Performance

Signet Jewelers stock opened at $86.94 on Friday. The firm’s 50 day moving average price is $81.33 and its 200-day moving average price is $92.36. Signet Jewelers has a 1 year low of $65.12 and a 1 year high of $112.06. The stock has a market cap of $3.88 billion, a P/E ratio of 7.07, a PEG ratio of 0.85 and a beta of 2.10.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings results on Thursday, September 12th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.13 by $0.12. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company earned $1.55 EPS. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, equities analysts expect that Signet Jewelers will post 10.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SIG. Telsey Advisory Group reduced their price objective on Signet Jewelers from $105.00 to $87.00 and set a “market perform” rating on the stock in a research note on Monday. Wells Fargo & Company decreased their price target on shares of Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. UBS Group decreased their target price on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Citigroup reiterated a “buy” rating and issued a $119.00 price target on shares of Signet Jewelers in a research report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Signet Jewelers presently has a consensus rating of “Moderate Buy” and an average target price of $108.60.

Insider Buying and Selling at Signet Jewelers

In related news, insider Joan M. Hilson sold 8,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $91.81, for a total value of $734,480.00. Following the sale, the insider now directly owns 189,231 shares of the company’s stock, valued at approximately $17,373,298.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Rebecca Wooters sold 3,000 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $90.34, for a total transaction of $271,020.00. Following the completion of the sale, the insider now directly owns 90,494 shares of the company’s stock, valued at $8,175,227.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joan M. Hilson sold 8,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $91.81, for a total transaction of $734,480.00. Following the completion of the transaction, the insider now directly owns 189,231 shares in the company, valued at approximately $17,373,298.11. The disclosure for this sale can be found here. Insiders have sold 57,439 shares of company stock worth $4,809,869 over the last quarter. Insiders own 3.26% of the company’s stock.

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.