Signet Jewelers (NYSE:SIG) Earns Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Signet Jewelers (NYSE:SIG – Get Rating) in a research note published on Thursday morning, Benzinga reports. They currently have a $75.00 price objective on the stock. Telsey Advisory Group also issued estimates for Signet Jewelers’ Q2 2024 earnings at $2.49 EPS, Q4 2024 earnings at $5.99 EPS and FY2025 earnings at $12.49 EPS.

Several other equities research analysts also recently commented on SIG. StockNews.com initiated coverage on Signet Jewelers in a report on Thursday. They set a buy rating on the stock. Bank of America lifted their price objective on Signet Jewelers from $65.00 to $75.00 and gave the stock a neutral rating in a report on Wednesday, December 7th. Citigroup lifted their price objective on Signet Jewelers from $60.00 to $77.00 in a report on Wednesday, December 7th. Finally, UBS Group lifted their price objective on Signet Jewelers from $79.00 to $93.00 and gave the stock a buy rating in a report on Wednesday, December 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $85.00.

Signet Jewelers Stock Performance

Shares of NYSE:SIG opened at $73.30 on Thursday. The company has a market cap of $3.33 billion, a P/E ratio of 11.62, a PEG ratio of 0.83 and a beta of 2.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.37 and a current ratio of 1.56. Signet Jewelers has a one year low of $48.31 and a one year high of $84.11. The business’s 50-day simple moving average is $74.56 and its 200 day simple moving average is $66.60.

Signet Jewelers (NYSE:SIG – Get Rating) last announced its earnings results on Thursday, March 16th. The company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.35 by $0.17. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.65 billion. Signet Jewelers had a return on equity of 46.64% and a net margin of 4.80%. The company’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the business posted $5.01 EPS. On average, sell-side analysts forecast that Signet Jewelers will post 11.45 earnings per share for the current fiscal year.

Signet Jewelers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, April 28th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, April 27th. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.20. Signet Jewelers’s payout ratio is 12.68%.

Insiders Place Their Bets

In other news, insider Stash Ptak sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the sale, the insider now owns 34,333 shares in the company, valued at $2,574,975. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Virginia Drosos sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $73.62, for a total transaction of $736,200.00. Following the sale, the chief executive officer now directly owns 925,305 shares of the company’s stock, valued at $68,120,954.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stash Ptak sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the sale, the insider now directly owns 34,333 shares in the company, valued at $2,574,975. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,000 shares of company stock worth $1,570,000. 1.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Signet Jewelers

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Signet Jewelers by 0.5% during the first quarter. Vanguard Group Inc. now owns 6,181,170 shares of the company’s stock worth $449,370,000 after purchasing an additional 31,035 shares during the period. Dimensional Fund Advisors LP raised its position in Signet Jewelers by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,388,543 shares of the company’s stock valued at $136,597,000 after buying an additional 13,848 shares during the period. Victory Capital Management Inc. raised its position in Signet Jewelers by 10.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,843,906 shares of the company’s stock valued at $125,386,000 after buying an additional 179,321 shares during the period. State Street Corp raised its position in Signet Jewelers by 2.5% during the first quarter. State Street Corp now owns 1,769,053 shares of the company’s stock valued at $128,610,000 after buying an additional 42,874 shares during the period. Finally, Geode Capital Management LLC grew its stake in Signet Jewelers by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 842,456 shares of the company’s stock valued at $57,287,000 after purchasing an additional 29,590 shares in the last quarter. 97.88% of the stock is owned by institutional investors and hedge funds.

Signet Jewelers Company Profile

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Signet Jewelers Ltd. engages in the retail of diamond jewelry. It operates through the following business segments: North America, International, and Others. The North America segment operates jewelry stores in malls, mall-based kiosks, and off-mall locations throughout the U.S. and Canada. The International sells primarily in the UK and Ireland under the H.