Signet Jewelers (NYSE:SIG) Shares Down 6.7%

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

SIG has been the topic of a number of analyst reports. Bank of America decreased their target price on shares of Signet Jewelers from $30.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, June 7th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $22.00 target price (down previously from $28.00) on shares of Signet Jewelers in a report on Monday, June 3rd. Nomura decreased their target price on shares of Signet Jewelers from $28.00 to $21.00 and set a “neutral” rating on the stock in a 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 on the stock in a report on Monday. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.68.

The stock’s fifty day moving average is $17.02 and its two-hundred day moving average is $21.85. 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 firm has a market cap 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 posted its earnings results on Thursday, June 6th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.32. The business had revenue of $1.43 billion for 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 revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 EPS. On average, analysts forecast that Signet Jewelers Ltd. will post 3.05 EPS for the current year.

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

Several large investors have recently modified their holdings of the company. CenterStar Asset Management LLC boosted its stake in shares of Signet Jewelers by 136.0% in the 2nd quarter. CenterStar Asset Management LLC now owns 1,660 shares of the company’s stock valued at $29,000 after purchasing an additional 6,270 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Signet Jewelers in the 2nd quarter valued at $43,000. Point72 Hong Kong Ltd boosted its stake in shares of Signet Jewelers by 77.2% in the 2nd quarter. Point72 Hong Kong Ltd now owns 4,817 shares of the company’s stock valued at $86,000 after purchasing an additional 2,098 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Signet Jewelers by 60.9% in 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. Finally, Meadow Creek Investment Management LLC boosted its stake in shares of Signet Jewelers by 23.1% in 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.

Signet Jewelers Company Profile (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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