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

Signet Jewelers Limited (NYSE:SIG) announced a quarterly dividend on Thursday, September 12th, Zacks reports. Investors 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 yield of 1.33%. The ex-dividend date is Friday, October 25th.

Signet Jewelers has increased its dividend by an average of 34.0% per year over the last three years. Signet Jewelers has a dividend 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

NYSE:SIG opened at $86.94 on Friday. The company has a market cap of $3.88 billion, a PE ratio of 7.07, a PEG ratio of 0.85 and a beta of 2.10. Signet Jewelers has a one year low of $65.12 and a one year high of $112.06. The firm has a 50-day moving average of $81.33 and a 200-day moving average of $92.36.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Thursday, September 12th. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.12. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. Signet Jewelers had a return on equity of 32.51% and a net margin of 10.91%. Signet Jewelers’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 EPS. On average, equities research analysts expect that Signet Jewelers will post 10.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, insider Rebecca Wooters sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $90.34, for a total value of $271,020.00. Following the completion of the sale, the insider now owns 90,494 shares in the company, valued at $8,175,227.96. The sale 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 company’s stock in a transaction dated 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 transaction, 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 SEC, which is accessible through this hyperlink. 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 value of $734,480.00. Following the completion of the sale, the insider now directly owns 189,231 shares in the company, valued at $17,373,298.11. The disclosure for this sale can be found here. Insiders sold a total of 57,439 shares of company stock worth $4,809,869 over the last three months. Company insiders own 3.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.