Signet Jewelers Stock Poised for Rebound After Earnings Drop

A number of other research firms also recently weighed in on SIG. Telsey Advisory Group reaffirmed a "market perform" rating and set a $87.00 price target on shares of Signet Jewelers in a research note on Wednesday, October 2nd. Bank of America lowered their target price on Signet Jewelers from $108.00 to $100.00 and set a "neutral" rating on the stock in a report on Friday, September 13th. Citigroup reaffirmed a "buy" rating and issued a $119.00 target price on shares of Signet Jewelers in a report on Friday, June 14th. Wells Fargo & Company decreased their price objective on Signet Jewelers from $125.00 to $105.00 and set an "overweight" rating on the stock in a report on Tuesday, August 27th. Finally, UBS Group decreased their price objective on Signet Jewelers from $145.00 to $132.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Signet Jewelers has a consensus rating of "Moderate Buy" and an average target price of $108.60.

Check Out Our Latest Research Report on SIG

Shares of SIG traded down $1.86 during midday trading on Thursday, reaching $96.72. 1,057,931 shares of the stock were exchanged, compared to its average volume of 820,833. Signet Jewelers has a 12-month low of $67.18 and a 12-month high of $112.06. The firm has a 50 day simple moving average of $85.89 and a 200-day simple moving average of $92.14. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 7.86, a P/E/G ratio of 1.07 and a beta of 2.10.

Signet Jewelers (NYSE:SIG - Get Free Report) last posted its quarterly earnings results on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business earned $1.55 EPS. The business's quarterly revenue was down 7.6% on a year-over-year basis. Research analysts expect that Signet Jewelers will post 10.8 earnings per share for the current fiscal year.

In related news, CEO Virginia Drosos sold 3,475 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $101.67, for a total transaction of $353,303.25. Following the completion of the transaction, the chief executive officer now owns 775,345 shares in the company, valued at $78,829,326.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Signet Jewelers news, insider Mary Elizabeth Finn sold 8,000 shares of Signet Jewelers stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $86.94, for a total value of $695,520.00. Following the completion of the transaction, the insider now owns 54,821 shares in the company, valued at approximately $4,766,137.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Virginia Drosos sold 3,475 shares of Signet Jewelers stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $101.67, for a total value of $353,303.25. Following the completion of the transaction, the chief executive officer now owns 775,345 shares of the company's stock, valued at approximately $78,829,326.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,892 shares of company stock worth $6,536,982 in the last 90 days. 3.26% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SIG. Virtu Financial LLC acquired a new stake in shares of Signet Jewelers in the 4th quarter valued at $913,000. PNC Financial Services Group Inc. increased its stake in shares of Signet Jewelers by 5.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company's stock valued at $303,000 after buying an additional 156 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Signet Jewelers by 303.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 12,849 shares of the company's stock valued at $1,286,000 after buying an additional 9,661 shares during the period. Murphy Pohlad Asset Management LLC increased its stake in shares of Signet Jewelers by 17.9% in the 1st quarter. Murphy Pohlad Asset Management LLC now owns 25,745 shares of the company's stock valued at $2,576,000 after buying an additional 3,910 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Signet Jewelers by 14.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 452,765 shares of the company's stock valued at $45,308,000 after buying an additional 58,400 shares during the period.

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.

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