Signet Jewelers (NYSE:SIG) Releases Earnings Results, Beats Expectations By $0.23 EPS

Signet Jewelers (NYSE:SIG - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $6.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.39 by $0.23, Zacks reports. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.73 EPS.

Signet Jewelers Stock Performance

SIG traded up $2.16 on Friday, hitting $58.46. 5,993,726 shares of the company traded hands, compared to its average volume of 1,063,586. The company has a 50 day moving average of $54.52 and a 200-day moving average of $78.29. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $2.54 billion, a PE ratio of 6.73, a PEG ratio of 3.43 and a beta of 2.20. Signet Jewelers has a 12-month low of $45.55 and a 12-month high of $112.06.

Signet Jewelers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be given a dividend of $0.32 per share. This is a boost from Signet Jewelers's previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, April 25th. Signet Jewelers's dividend payout ratio is currently -168.42%.

Remove Ads

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $1,231,565.76. This represents a 12.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SIG shares. Telsey Advisory Group reiterated a "market perform" rating and issued a $55.00 price objective on shares of Signet Jewelers in a report on Wednesday. StockNews.com downgraded 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 for the company in a research note on Wednesday, January 15th. UBS Group boosted their target price on Signet Jewelers from $85.00 to $89.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Wells Fargo & Company lowered their target price on Signet Jewelers from $95.00 to $80.00 and set an "overweight" rating for the company in a research note on Thursday. Three research 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 presently has an average rating of "Moderate Buy" and a consensus target price of $81.60.

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.