Signet Jewelers (NYSE:SIG) Price Target Cut to $65.00 by Analysts at Telsey Advisory Group

Signet Jewelers (NYSE:SIG - Free Report) had its price target decreased by Telsey Advisory Group from $87.00 to $65.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. Telsey Advisory Group currently has a market perform rating on the stock.

SIG has been the subject of several other reports. StockNews.com lowered Signet Jewelers from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. Wells Fargo & Company raised their target price on Signet Jewelers from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.20.

Signet Jewelers Trading Up 2.2 %

Shares of NYSE SIG traded up $1.25 during mid-day trading on Wednesday, reaching $59.25. 2,924,950 shares of the company's stock were exchanged, compared to its average volume of 2,540,838. The company's 50-day moving average is $88.01 and its 200-day moving average is $87.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 1.04 and a beta of 2.13. Signet Jewelers has a 52-week low of $54.44 and a 52-week high of $112.06.

Signet Jewelers (NYSE:SIG - Get Free Report) last announced its earnings results on Thursday, December 5th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company had revenue of $1.35 billion for the quarter, compared to analysts' expectations of $1.37 billion. During the same period last year, the business earned $0.24 EPS. The company's quarterly revenue was down 3.1% compared to the same quarter last year. Analysts expect that Signet Jewelers will post 9.88 EPS for the current fiscal year.

Signet Jewelers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, January 24th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.16 annualized dividend and a yield of 1.96%. Signet Jewelers's dividend payout ratio (DPR) is 13.35%.

Insider Activity

In other Signet Jewelers news, insider Joan M. Hilson sold 8,000 shares of Signet Jewelers stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $94.57, for a total transaction of $756,560.00. Following the completion of the sale, the insider now directly owns 200,844 shares of the company's stock, valued at $18,993,817.08. The trade was a 3.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $99.63, for a total value of $332,066.79. Following the completion of the transaction, the director now owns 26,085 shares in the company, valued at approximately $2,598,848.55. The trade was a 11.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.26% of the company's stock.

Hedge Funds Weigh In On Signet Jewelers

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MidWestOne Financial Group Inc. lifted its position in shares of Signet Jewelers by 63.3% during the 2nd quarter. MidWestOne Financial Group Inc. now owns 16,974 shares of the company's stock worth $1,521,000 after buying an additional 6,579 shares during the last quarter. Nordea Investment Management AB raised its stake in Signet Jewelers by 36.3% during the 4th quarter. Nordea Investment Management AB now owns 132,070 shares of the company's stock worth $10,704,000 after acquiring an additional 35,174 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in Signet Jewelers in the third quarter valued at $2,853,000. Ensign Peak Advisors Inc boosted its stake in Signet Jewelers by 94.1% in the second quarter. Ensign Peak Advisors Inc now owns 30,483 shares of the company's stock valued at $2,731,000 after acquiring an additional 14,775 shares in the last quarter. Finally, Versor Investments LP purchased a new position in shares of Signet Jewelers during the third quarter worth about $977,000.

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.