Signet Jewelers (NYSE:SIG) Trading Down 6.7%

Signet Jewelers Ltd. (NYSE:SIG)’s stock price traded down 6.7% during trading on Thursday . The stock traded as low as $12.15 and last traded at $11.73, 60,991 shares were traded during mid-day trading. A decline of 96% from the average session volume of 1,686,722 shares. The stock had previously closed at $12.57.

Several equities research analysts have recently commented on the stock. Bank of America dropped their target price on shares of Signet Jewelers from $30.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $22.00 target price (down from $28.00) on shares of Signet Jewelers in a research report on Monday, June 3rd. Nomura dropped their target price on shares of Signet Jewelers from $28.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Finally, Zacks Investment Research raised shares of Signet Jewelers from a “sell” rating to a “hold” rating and set a $15.00 target price for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $26.68.

The company has a current ratio of 2.07, a quick ratio of 0.31 and a debt-to-equity ratio of 1.92. The company’s 50 day moving average is $17.02 and its 200-day moving average is $21.85. The company has a market capitalization of $647.68 million, a P/E ratio of 3.14, a price-to-earnings-growth ratio of 0.66 and a beta of 0.93.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, June 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.32. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. Signet Jewelers had a negative net margin of 2.76% and a positive return on equity of 16.90%. Signet Jewelers’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. Analysts predict that Signet Jewelers Ltd. will post 3.05 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be paid a $0.37 dividend. The ex-dividend date is Thursday, August 1st. This represents a $1.48 annualized dividend and a dividend yield of 12.67%. Signet Jewelers’s payout ratio is 39.78%.

Several institutional investors have recently modified their holdings of SIG. Arizona State Retirement System increased its stake in Signet Jewelers by 1.6% during the 2nd quarter. Arizona State Retirement System now owns 37,879 shares of the company’s stock valued at $677,000 after purchasing an additional 603 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in Signet Jewelers by 23.1% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 6,064 shares of the company’s stock valued at $108,000 after purchasing an additional 1,136 shares in the last quarter. Texas Permanent School Fund increased its stake in Signet Jewelers by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 35,247 shares of the company’s stock valued at $957,000 after purchasing an additional 1,276 shares in the last quarter. Rhumbline Advisers increased its stake in Signet Jewelers by 0.8% during the 1st quarter. Rhumbline Advisers now owns 159,292 shares of the company’s stock valued at $4,326,000 after purchasing an additional 1,283 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Signet Jewelers by 60.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,700 shares of the company’s stock valued at $100,000 after purchasing an additional 1,400 shares in the last quarter.

About Signet Jewelers (NYSE:SIG)

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. As of February 02, 2019, it operated 3,334 stores and kiosks. The company operates through three segments: North America, International, and Other. The North America segment operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, Peoples Jewellers, Gordon's Jewelers, and Mappins Jewellers regional banners; and JamesAllen.com, an online jewelry retailer Website.

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