Signet Jewelers’ (SIG) “Market Perform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Signet Jewelers (NYSE:SIG) in a report published on Wednesday morning,Benzinga reports. Telsey Advisory Group currently has a $62.00 price target on the stock.

Several other research firms have also recently commented on SIG. UBS Group boosted their price objective on shares of Signet Jewelers from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Signet Jewelers from $60.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. CL King initiated coverage on shares of Signet Jewelers in a research report on Monday, May 5th. They issued a “buy” rating and a $80.00 price objective on the stock. Finally, Cfra Research upgraded shares of Signet Jewelers to a “moderate buy” rating in a research note on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Signet Jewelers currently has an average rating of “Hold” and a consensus target price of $80.00.

Signet Jewelers Trading Down 0.5%

SIG opened at $66.58 on Wednesday. The stock has a market capitalization of $2.86 billion, a P/E ratio of 7.66, a P/E/G ratio of 3.43 and a beta of 1.34. Signet Jewelers has a 12 month low of $45.55 and a 12 month high of $112.06. The firm’s fifty day simple moving average is $60.35 and its 200 day simple moving average is $66.52. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 EPS for the quarter, beating the consensus estimate of $6.39 by $0.23. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The firm’s revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.73 EPS. As a group, research analysts anticipate that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Signet Jewelers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, April 25th were paid a $0.32 dividend. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 1.92%. The ex-dividend date was Friday, April 25th. Signet Jewelers’s payout ratio is presently -168.42%.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, Director Helen Mccluskey purchased 1,700 shares of the stock in a transaction on Friday, April 25th. The shares were purchased at an average cost of $58.86 per share, for a total transaction of $100,062.00. Following the purchase, the director now owns 31,916 shares of the company’s stock, valued at approximately $1,878,575.76. This represents a 5.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Kevin Symancyk purchased 15,000 shares of the stock in a transaction on Monday, March 31st. The stock was acquired at an average price of $57.45 per share, for a total transaction of $861,750.00. Following the completion of the purchase, the chief executive officer now directly owns 50,710 shares in the company, valued at approximately $2,913,289.50. The trade was a 42.01% increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SIG. Brooklyn Investment Group increased its stake in shares of Signet Jewelers by 42,700.0% during the 1st quarter. Brooklyn Investment Group now owns 428 shares of the company’s stock worth $25,000 after purchasing an additional 427 shares during the last quarter. Allworth Financial LP increased its stake in shares of Signet Jewelers by 946.8% during the 1st quarter. Allworth Financial LP now owns 492 shares of the company’s stock worth $29,000 after purchasing an additional 445 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Signet Jewelers during the 1st quarter worth about $36,000. Versant Capital Management Inc increased its stake in shares of Signet Jewelers by 40.5% during the 1st quarter. Versant Capital Management Inc now owns 773 shares of the company’s stock worth $45,000 after purchasing an additional 223 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new position in Signet Jewelers in the 1st quarter valued at about $45,000.

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.