Telsey Advisory Group Reiterates "Market Perform" Rating for Signet Jewelers (NYSE:SIG)

Telsey Advisory Group reaffirmed their market perform rating on shares of Signet Jewelers (NYSE:SIG - Free Report) in a research note released on Wednesday,Benzinga reports. The firm currently has a $62.00 price objective on the stock.

A number of other research analysts also recently issued reports on the stock. Cfra Research upgraded shares of Signet Jewelers to a "moderate buy" rating in a research report on Thursday, March 20th. UBS Group increased their price target on shares of Signet Jewelers from $77.00 to $84.00 and gave the company a "buy" rating in a research report on Tuesday. 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 target on the stock. Finally, Wells Fargo & Company increased their price target 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $80.00.

Signet Jewelers Trading Down 0.5%

Signet Jewelers stock traded down $0.31 during trading hours on Wednesday, reaching $66.58. 1,217,684 shares of the company's stock traded hands, compared to its average volume of 1,187,580. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. Signet Jewelers has a fifty-two week low of $45.55 and a fifty-two week high of $112.06. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 3.43 and a beta of 1.34. The firm's 50 day moving average is $60.23 and its 200-day moving average is $66.74.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its earnings results on Wednesday, March 19th. The company reported $6.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.39 by $0.23. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the company posted $6.73 EPS. The company's revenue was down 5.8% compared to the same quarter last year. On average, analysts predict that Signet Jewelers will post 8.73 earnings per share for the current year.

Signet Jewelers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, April 25th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from Signet Jewelers's previous quarterly dividend of $0.29. The ex-dividend date was Friday, April 25th. Signet Jewelers's dividend payout ratio (DPR) is currently -168.42%.

Insider Activity at Signet Jewelers

In related news, CEO James Kevin Symancyk purchased 15,000 shares of the business's stock in a transaction on Monday, March 31st. The shares were purchased at an average price of $57.45 per share, with a total value of $861,750.00. Following the completion of the purchase, the chief executive officer now owns 50,710 shares in the company, valued at $2,913,289.50. This represents a 42.01% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Helen Mccluskey purchased 1,700 shares of the business's stock in a transaction on Friday, April 25th. The stock was bought 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 position. The disclosure for this purchase can be found here. 3.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SIG. Cooper Creek Partners Management LLC lifted its stake in Signet Jewelers by 1,046.3% in the fourth quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company's stock valued at $152,495,000 after buying an additional 1,724,592 shares in the last quarter. Anomaly Capital Management LP lifted its stake in Signet Jewelers by 862.5% in the fourth quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company's stock valued at $142,253,000 after buying an additional 1,579,410 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Signet Jewelers by 175.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,859,503 shares of the company's stock valued at $107,963,000 after buying an additional 1,183,214 shares in the last quarter. Norges Bank bought a new position in Signet Jewelers in the fourth quarter valued at approximately $40,989,000. Finally, Vanguard Group Inc. lifted its stake in Signet Jewelers by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,205,964 shares of the company's stock valued at $302,258,000 after buying an additional 389,852 shares in the last quarter.

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.