Signet Jewelers (NYSE:SIG) Given New $65.00 Price Target at Bank of America

Signet Jewelers (NYSE:SIG) had its price target reduced by Bank of America from $95.00 to $65.00 in a research note published on Wednesday,Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other analysts have also issued reports on SIG. Telsey Advisory Group decreased their price objective on Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday. Wells Fargo & Company upped their price target on Signet Jewelers from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.20.

Signet Jewelers Price Performance

NYSE SIG opened at $58.91 on Wednesday. The company has a market cap of $2.56 billion, a PE ratio of 6.78, a price-to-earnings-growth ratio of 0.95 and a beta of 2.13. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The firm’s 50-day simple moving average is $87.24 and its two-hundred day simple moving average is $87.61. Signet Jewelers has a 52 week low of $54.44 and a 52 week high of $112.06.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the business posted $0.24 earnings per share. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Research analysts predict that Signet Jewelers will post 9.88 earnings per share for the current year.

Signet Jewelers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, January 24th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, January 24th. Signet Jewelers’s payout ratio is 13.35%.

Insider Buying and Selling

In other news, insider Joan M. Hilson sold 8,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $94.57, for a total transaction of $756,560.00. Following the sale, the insider now owns 200,844 shares in the company, valued at approximately $18,993,817.08. This trade represents a 3.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eugenia Ulasewicz sold 3,333 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $99.63, for a total transaction of $332,066.79. Following the completion of the transaction, the director now owns 26,085 shares of the company’s stock, valued at $2,598,848.55. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.26% of the stock is owned by company insiders.

Institutional Trading of Signet Jewelers

A number of hedge funds have recently bought and sold shares of the company. Ritholtz Wealth Management grew its position in Signet Jewelers by 4.9% during the third quarter. Ritholtz Wealth Management now owns 2,459 shares of the company’s stock valued at $254,000 after acquiring an additional 115 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Signet Jewelers during the 3rd quarter valued at $25,000. Cetera Investment Advisers raised its position in Signet Jewelers by 2.2% in the 2nd quarter. Cetera Investment Advisers now owns 11,793 shares of the company’s stock worth $1,056,000 after purchasing an additional 257 shares during the period. KBC Group NV raised its position in Signet Jewelers by 25.5% in the 3rd quarter. KBC Group NV now owns 1,293 shares of the company’s stock worth $133,000 after purchasing an additional 263 shares during the period. Finally, Franklin Resources Inc. boosted its position in Signet Jewelers by 0.9% during the third quarter. Franklin Resources Inc. now owns 34,122 shares of the company’s stock valued at $3,330,000 after buying an additional 288 shares during the period.

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.