Signet Jewelers (NYSE:SIG) Given Market Perform Rating at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Signet Jewelers (NYSE:SIG – Get Rating) in a report issued on Thursday morning, Benzinga reports. Telsey Advisory Group currently has a $75.00 target price 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.

A number of other research firms also recently issued reports on SIG. Bank of America lifted their target price on Signet Jewelers from $65.00 to $75.00 and gave the company a neutral rating in a research report on Wednesday, December 7th. Citigroup lifted their price target on Signet Jewelers from $60.00 to $77.00 in a report on Wednesday, December 7th. StockNews.com initiated coverage on Signet Jewelers in a report on Thursday. They set a buy rating for the company. Finally, UBS Group boosted 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $85.00.

Signet Jewelers Stock Performance

SIG opened at $73.30 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.37. The business’s 50-day moving average price is $74.56 and its two-hundred day moving average price is $66.60. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 0.83 and a beta of 2.18. Signet Jewelers has a 1 year low of $48.31 and a 1 year high of $84.11.

Signet Jewelers (NYSE:SIG – Get Rating) last released its earnings results on Thursday, March 16th. The company reported $5.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Signet Jewelers’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.01 earnings per share. Equities analysts expect that Signet Jewelers will post 11.45 EPS for the current fiscal year.

Signet Jewelers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Investors of record on Friday, April 28th will be paid a $0.23 dividend. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, April 27th. Signet Jewelers’s payout ratio is 12.68%.

Insider Buying and Selling at Signet Jewelers

In other news, CEO Virginia Drosos sold 10,000 shares of the company’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $75.88, for a total transaction of $758,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,106,059 shares in the company, valued at $83,927,756.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Virginia Drosos sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 24th. The shares were sold at an average price of $75.88, for a total value of $758,800.00. Following the sale, the chief executive officer now owns 1,106,059 shares of the company’s stock, valued at $83,927,756.92. The sale was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $75,000.00. Following the completion of the sale, the insider now directly owns 34,333 shares in the company, valued at approximately $2,574,975. The disclosure for this sale can be found here. Insiders sold a total of 21,000 shares of company stock worth $1,570,000 over the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Signet Jewelers

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Signet Jewelers by 0.5% in 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 last quarter. Dimensional Fund Advisors LP boosted 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 acquiring an additional 13,848 shares during the last quarter. Victory Capital Management Inc. boosted 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 acquiring an additional 179,321 shares during the last quarter. State Street Corp boosted 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 acquiring an additional 42,874 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Signet Jewelers by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 842,456 shares of the company’s stock valued at $57,287,000 after acquiring an additional 29,590 shares during the last quarter. Institutional investors own 97.88% of the company’s stock.

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.