Signet Jewelers Ltd. (SIG) Shares Down 2.7%
Signet Jewelers Ltd. (NYSE:SIG)’s share price dropped 2.7% during trading on Thursday . The company traded as low as $87.06 and last traded at $87.12, with a volume of 1,403,980 shares traded. The stock had previously closed at $89.55.
SIG has been the subject of a number of research analyst reports. Topeka Capital Markets boosted their price target on Signet Jewelers from $169.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, March 24th. Goldman Sachs Group Inc. boosted their price target on Signet Jewelers from $186.00 to $192.00 and gave the stock a “buy” rating in a report on Monday, March 28th. Cowen and Company reissued an “outperform” rating on shares of Signet Jewelers in a report on Monday, March 28th. Bank of America Corp. reissued a “buy” rating on shares of Signet Jewelers in a report on Tuesday, March 29th. Finally, Zacks Investment Research cut Signet Jewelers from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $135.85.
The firm has a market cap of $6.82 billion and a P/E ratio of 13.98. The company’s 50 day moving average is $86.03 and its 200 day moving average is $105.50.
Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Thursday, May 26th. The company reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.94 by $0.01. The business earned $1.58 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business posted $1.62 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Equities research analysts forecast that Signet Jewelers Ltd. will post $8.27 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, July 29th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $1.04 dividend on an annualized basis and a yield of 1.19%.
In other news, insider Mark Andrew Jenkins purchased 325 shares of the stock in a transaction on Tuesday, June 14th. The shares were acquired at an average price of $84.75 per share, for a total transaction of $27,543.75. Following the completion of the transaction, the insider now directly owns 14,639 shares of the company’s stock, valued at approximately $1,240,655.25. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Virginia Drosos purchased 1,135 shares of the stock in a transaction on Friday, June 10th. The shares were purchased at an average price of $88.23 per share, for a total transaction of $100,141.05. Following the transaction, the director now directly owns 7,221 shares of the company’s stock, valued at $637,108.83. The disclosure for this purchase can be found here.
Other large investors have recently added to or reduced their stakes in the company. Aberdeen Asset Management PLC UK increased its stake in Signet Jewelers by 26.4% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 15,398 shares of the company’s stock worth $2,273,000 after buying an additional 3,220 shares during the last quarter. Cowen Group Inc. increased its stake in Signet Jewelers by 6.7% in the fourth quarter. Cowen Group Inc. now owns 45,049 shares of the company’s stock worth $5,572,000 after buying an additional 2,833 shares during the last quarter. Wells Fargo & Company MN increased its stake in Signet Jewelers by 8.4% in the fourth quarter. Wells Fargo & Company MN now owns 239,570 shares of the company’s stock worth $29,633,000 after buying an additional 18,559 shares during the last quarter. Bank of Montreal Can increased its stake in Signet Jewelers by 3.0% in the fourth quarter. Bank of Montreal Can now owns 58,517 shares of the company’s stock worth $7,239,000 after buying an additional 1,698 shares during the last quarter. Finally, Financial Counselors Inc. increased its stake in Signet Jewelers by 201.5% in the fourth quarter. Financial Counselors Inc. now owns 13,936 shares of the company’s stock worth $1,724,000 after buying an additional 9,314 shares during the last quarter.
Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s segments are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment.
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