Signet Jewelers (NYSE:SIG) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

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

Signet Jewelers Trading Up 4.8 %

NYSE:SIG opened at $91.14 on Friday. The company has a market capitalization of $4.07 billion, a P/E ratio of 7.41, a P/E/G ratio of 0.85 and a beta of 2.10. Signet Jewelers has a 12 month low of $65.12 and a 12 month high of $112.06. The business’s 50-day moving average is $81.40 and its 200 day moving average is $92.26.

Signet Jewelers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a $0.29 dividend. 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 is currently 9.43%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Bank of America cut their price target on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a report on Friday. StockNews.com lowered Signet Jewelers from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Citigroup reissued a “buy” rating and set a $119.00 price target on shares of Signet Jewelers in a report on Friday, June 14th. UBS Group cut their price target on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Telsey Advisory Group lowered their price objective on Signet Jewelers from $105.00 to $87.00 and set a “market perform” rating on the stock in a research report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $108.60.

Insider Buying and Selling

In related news, insider Mary Elizabeth Finn sold 8,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $80.00, for a total value of $640,000.00. Following the sale, the insider now directly owns 46,821 shares in the company, valued at $3,745,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Signet Jewelers news, insider Mary Elizabeth Finn sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $80.00, for a total transaction of $640,000.00. Following the sale, the insider now directly owns 46,821 shares in the company, valued at $3,745,680. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Oded Edelman sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $74.55, for a total value of $670,950.00. Following the sale, the insider now owns 28,398 shares in the company, valued at $2,117,070.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,439 shares of company stock worth $4,809,869. Corporate insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Select Equity Group L.P. grew its stake in shares of Signet Jewelers by 2.9% during the second 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. Dimensional Fund Advisors LP grew its stake in Signet Jewelers by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock worth $213,809,000 after purchasing an additional 149,934 shares in the last quarter. Pacer Advisors Inc. grew its stake in Signet Jewelers by 6.5% in the second quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock worth $185,347,000 after purchasing an additional 126,726 shares in the last quarter. Eminence Capital LP grew its stake in Signet Jewelers by 71.3% in the second quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock worth $75,644,000 after purchasing an additional 351,588 shares in the last quarter. Finally, Anomaly Capital Management LP grew its stake in Signet Jewelers by 12.4% in the second quarter. Anomaly Capital Management LP now owns 691,451 shares of the company’s stock worth $61,940,000 after purchasing an additional 76,534 shares in 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.