Signet Jewelers (NYSE:SIG) Issues Earnings Results, Beats Estimates By $0.11 EPS

Signet Jewelers (NYSE:SIG) posted its earnings results on Thursday. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11, Briefing.com reports. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. The firm’s quarterly revenue was down 7.6% on a year-over-year basis.

Signet Jewelers Stock Performance

SIG opened at $91.14 on Friday. The company’s 50 day simple moving average is $81.40 and its 200 day simple moving average is $92.26. Signet Jewelers has a 1 year low of $65.12 and a 1 year high of $112.06. The stock has a market capitalization of $4.07 billion, a PE ratio of 7.41, a P/E/G ratio of 0.85 and a beta of 2.10.

Signet Jewelers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.27%. Signet Jewelers’s dividend payout ratio (DPR) is presently 9.43%.

Analyst Ratings Changes

SIG has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Telsey Advisory Group decreased their target price on shares of Signet Jewelers from $105.00 to $87.00 and set a “market perform” rating on the stock in a report on Monday, September 9th. UBS Group decreased their price objective on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America cut their target price on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Citigroup reaffirmed a “buy” rating and set a $119.00 target price 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 assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $108.60.

Insider Buying and Selling at Signet Jewelers

In other news, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $91.81, for a total transaction of $734,480.00. Following the transaction, the insider now directly owns 189,231 shares of the company’s stock, valued at $17,373,298.11. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Signet Jewelers news, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $91.81, for a total transaction of $734,480.00. Following the completion of the sale, the insider now owns 189,231 shares in the company, valued at $17,373,298.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider now owns 90,494 shares of the company’s stock, valued at approximately $8,175,227.96. The disclosure for this sale can be found here. Insiders have sold a total of 57,439 shares of company stock valued at $4,809,869 over the last ninety days. Corporate insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SIG. Khrom Capital Management LLC purchased a new stake in Signet Jewelers in the 2nd quarter worth approximately $58,357,000. Norges Bank acquired a new position in Signet Jewelers in the 4th quarter valued at $52,976,000. Eminence Capital LP grew its stake in Signet Jewelers by 71.3% in the 2nd quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock valued at $75,644,000 after buying an additional 351,588 shares during the last quarter. Select Equity Group L.P. grew its stake in Signet Jewelers by 2.9% in the 2nd quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock valued at $622,562,000 after buying an additional 193,977 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Signet Jewelers by 38.2% in the 1st quarter. Janus Henderson Group PLC now owns 656,005 shares of the company’s stock valued at $65,646,000 after buying an additional 181,207 shares during the last quarter.

About Signet Jewelers

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.