Signet Jewelers (NYSE:SIG) Releases Earnings Results
Signet Jewelers (NYSE:SIG) reported earnings of $0.25 per share for the quarter, exceeding analysts' expectations of $0.14. The company had revenue of $0.49 billion, slightly below the forecast of $0.50 billion, and experienced a 7.6% decline in revenue year-over-year. Signet's net margin was 10.91% and return on equity was 32.51%. The firm also declared a quarterly dividend of $0.29, with an annualized yield of 1.33%. Insider trading activity included significant sales by executives. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy."
Signet Jewelers (NYSE:SIG - Get Free Report) issued its earnings results on Thursday. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.11, Briefing.com reports. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Signet Jewelers had a return on equity of 32.51% and a net margin of 10.91%. The company's revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 earnings per share.
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Signet Jewelers Stock Performance
- Signet Jewelers Stock Poised for Rebound After Earnings Drop
NYSE SIG opened at $86.94 on Friday. Signet Jewelers has a one year low of $65.12 and a one year high of $112.06. The company has a 50-day simple moving average of $81.33 and a 200-day simple moving average of $92.36. The firm has a market capitalization of $3.88 billion, a PE ratio of 7.07, a price-to-earnings-growth ratio of 0.85 and a beta of 2.10.
Signet Jewelers Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be given a $0.29 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.33%. Signet Jewelers's payout ratio is currently 9.43%.
Insider Buying and Selling
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In related news, insider Jamie Singleton sold 18,105 shares of the firm's stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $83.11, for a total value of $1,504,706.55. Following the sale, the insider now owns 162,942 shares of the company's stock, valued at approximately $13,542,109.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jamie Singleton sold 18,105 shares of Signet Jewelers stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $83.11, for a total value of $1,504,706.55. Following the sale, the insider now directly owns 162,942 shares in the company, valued at approximately $13,542,109.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eugenia Ulasewicz sold 3,334 shares of the business's stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $87.94, for a total transaction of $293,191.96. Following the transaction, the director now directly owns 29,418 shares of the company's stock, valued at $2,587,018.92. The disclosure for this sale can be found here. Insiders have sold a total of 57,439 shares of company stock worth $4,809,869 over the last quarter. 3.26% of the stock is owned by company insiders.
Analysts Set New Price Targets
SIG has been the topic of a number of recent research reports. Wells Fargo & Company reduced their target price on shares of Signet Jewelers from $125.00 to $105.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 27th. Telsey Advisory Group decreased their price objective on shares of Signet Jewelers from $105.00 to $87.00 and set a "market perform" rating for the company in a research report on Monday. UBS Group dropped their target price on Signet Jewelers from $145.00 to $132.00 and set a "buy" rating on the stock in a research report on Wednesday. Citigroup restated a "buy" rating and set a $119.00 price objective on shares of Signet Jewelers in a research note on Friday, June 14th. Finally, StockNews.com downgraded shares of Signet Jewelers from a "buy" rating to a "hold" rating in a research report on Wednesday, September 4th. Three research 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $108.60.
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Read Our Latest Stock Report on Signet Jewelers
About Signet Jewelers
(Get Free Report)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.
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