Signet Jewelers (NYSE:SIG) Shares Gap Up - Time to Buy?

Signet Jewelers Limited (NYSE:SIG - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $49.73, but opened at $53.92. Signet Jewelers shares last traded at $56.28, with a volume of 632,393 shares trading hands.

Analyst Upgrades and Downgrades

SIG has been the subject of several research analyst reports. StockNews.com downgraded Signet Jewelers from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. Bank of America cut their price objective on Signet Jewelers from $95.00 to $65.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. Telsey Advisory Group cut their price objective on Signet Jewelers from $87.00 to $65.00 and set a "market perform" rating for the company in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company cut their price objective on Signet Jewelers from $110.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.20.

Signet Jewelers Trading Down 1.7 %

The company has a market cap of $2.08 billion, a P/E ratio of 5.51, a P/E/G ratio of 3.43 and a beta of 2.11. 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 business has a 50-day moving average price of $61.86 and a two-hundred day moving average price of $81.09.

Remove Ads

Signet Jewelers (NYSE:SIG - Get Free Report) last released its earnings results on Thursday, December 5th. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.05). The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.37 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company's revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS. On average, analysts predict that Signet Jewelers Limited will post 8.73 EPS for the current year.

Signet Jewelers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, January 24th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, January 24th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.42%. Signet Jewelers's dividend payout ratio (DPR) is presently 13.35%.

Insider Buying and Selling

In related news, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers 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 of the company's stock, valued at $1,231,565.76. The trade was a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Signet Jewelers

A number of institutional investors have recently made changes to their positions in SIG. Cooper Creek Partners Management LLC grew its stake in shares of Signet Jewelers by 1,046.3% during the fourth quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company's stock worth $152,495,000 after purchasing an additional 1,724,592 shares during the period. Anomaly Capital Management LP grew its stake in shares of Signet Jewelers by 862.5% during the fourth quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company's stock worth $142,253,000 after purchasing an additional 1,579,410 shares during the period. Norges Bank acquired a new stake in shares of Signet Jewelers during the fourth quarter worth $40,989,000. Schonfeld Strategic Advisors LLC grew its stake in Signet Jewelers by 2,648.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 304,021 shares of the company's stock valued at $24,538,000 after acquiring an additional 292,961 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Signet Jewelers by 37.4% in the fourth quarter. Janus Henderson Group PLC now owns 1,055,061 shares of the company's stock valued at $85,155,000 after acquiring an additional 286,974 shares during the period.

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.