Signet Jewelers Limited (NYSE:SIG) Raises Dividend to $0.32 Per Share

Signet Jewelers Limited (NYSE:SIG - Get Free Report) declared a quarterly dividend on Thursday, March 20th, Wall Street Journal reports. Investors of record on Friday, April 25th will be paid a dividend of 0.32 per share on Friday, May 23rd. This represents a $1.28 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Friday, April 25th. This is a 10.3% increase from Signet Jewelers's previous quarterly dividend of $0.29.

Signet Jewelers has increased its dividend by an average of 29.0% per year over the last three years. Signet Jewelers has a payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Signet Jewelers to earn $8.91 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 14.4%.

Signet Jewelers Stock Up 5.7 %

Shares of Signet Jewelers stock traded up $3.31 on Monday, reaching $61.37. 1,748,971 shares of the company were exchanged, compared to its average volume of 1,066,327. Signet Jewelers has a one year low of $45.55 and a one year high of $112.06. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $54.52 and a 200 day moving average of $78.29. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 7.06, a PEG ratio of 3.43 and a beta of 2.20.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.33 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The business's revenue was down 5.8% on a year-over-year basis. During the same period last year, the firm posted $6.73 earnings per share. On average, equities research analysts forecast that Signet Jewelers will post 8.73 earnings per share for the current year.

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Wall Street Analysts Forecast Growth

SIG has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on shares of Signet Jewelers from $95.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday. Telsey Advisory Group reissued a "market perform" rating and issued a $55.00 price target on shares of Signet Jewelers in a report on Wednesday, March 19th. StockNews.com cut Signet Jewelers from a "buy" rating to a "hold" rating in a report on Friday, December 6th. Bank of America lowered their target price on Signet Jewelers from $95.00 to $65.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Finally, UBS Group boosted their price target on Signet Jewelers from $85.00 to $89.00 and gave the company a "buy" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.60.

Insider Activity at Signet Jewelers

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $54.13, for a total transaction of $180,415.29. Following the completion of the sale, the director now directly owns 22,752 shares in the company, valued at approximately $1,231,565.76. This represents a 12.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.26% of the stock is currently owned by corporate insiders.

About Signet Jewelers

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.