Signet Jewelers (NYSE:SIG) Sees Large Volume Increase After Earnings Beat

Shares of Signet Jewelers Limited (NYSE:SIGGet Free Report) saw an uptick in trading volume on Friday following a better than expected earnings announcement. 1,367,407 shares traded hands during trading, an increase of 85% from the previous session’s volume of 737,228 shares.The stock last traded at $87.04 and had previously closed at $92.25.

The company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.82 by $0.29. Signet Jewelers had a net margin of 11.30% and a return on equity of 32.26%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company earned $1.78 EPS. Signet Jewelers’s revenue was down 9.4% on a year-over-year basis.

Signet Jewelers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, July 26th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.33%. The ex-dividend date is Friday, July 26th. Signet Jewelers’s payout ratio is 7.74%.

Analyst Upgrades and Downgrades

SIG has been the subject of several analyst reports. Citigroup restated a “buy” rating and set a $119.00 target price on shares of Signet Jewelers in a research report on Friday. Wells Fargo & Company upped their target price on shares of Signet Jewelers from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Telsey Advisory Group restated a “market perform” rating and issued a $110.00 price objective on shares of Signet Jewelers in a research report on Thursday. Finally, Bank of America reduced their target price on Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Signet Jewelers presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.20.

Get Our Latest Stock Analysis on Signet Jewelers

Insider Buying and Selling at Signet Jewelers

In related news, CAO Vincent Ciccolini sold 4,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $101.64, for a total transaction of $406,560.00. Following the transaction, the chief accounting officer now directly owns 46,076 shares in the company, valued at $4,683,164.64. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $92.69, for a total transaction of $741,520.00. Following the transaction, the insider now directly owns 187,377 shares of the company’s stock, valued at approximately $17,367,974.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Vincent Ciccolini sold 4,000 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $101.64, for a total value of $406,560.00. Following the completion of the sale, the chief accounting officer now owns 46,076 shares in the company, valued at approximately $4,683,164.64. The disclosure for this sale can be found here. Insiders sold a total of 35,431 shares of company stock worth $3,444,267 over the last ninety days. 3.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Signet Jewelers

Several hedge funds have recently bought and sold shares of SIG. Dimensional Fund Advisors LP lifted its holdings in shares of Signet Jewelers by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,323,982 shares of the company’s stock worth $249,272,000 after buying an additional 51,397 shares in the last quarter. Pacer Advisors Inc. raised its stake in Signet Jewelers by 38.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,262,773 shares of the company’s stock worth $135,445,000 after purchasing an additional 349,771 shares in the last quarter. FMR LLC boosted its holdings in Signet Jewelers by 8.4% in the 3rd quarter. FMR LLC now owns 1,201,134 shares of the company’s stock valued at $86,253,000 after purchasing an additional 93,136 shares during the period. Eminence Capital LP grew its position in shares of Signet Jewelers by 33.1% during the 4th quarter. Eminence Capital LP now owns 759,439 shares of the company’s stock worth $81,457,000 after purchasing an additional 189,019 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Signet Jewelers by 38.2% during the first quarter. Janus Henderson Group PLC now owns 656,005 shares of the company’s stock worth $65,646,000 after purchasing an additional 181,207 shares during the period.

Signet Jewelers Price Performance

The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 5.89, a P/E/G ratio of 1.20 and a beta of 2.12. The business’s 50-day moving average price is $100.57 and its two-hundred day moving average price is $99.76.

About Signet Jewelers

(Get Free Report)

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.

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