Signet Jewelers Sees Unusually-High Trading Volume Following Earnings Beat (SIG)
Signet Jewelers (NYSE:SIG) saw an uptick in trading volume on Friday following a better than expected earnings announcement, Stock Ratings Network.com reports. 785,392 shares changed hands during mid-day trading, an increase of 10% from the previous session’s volume of 714,577 shares.The stock last traded at $117.99 and had previously closed at $116.37.
The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.01. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 39.3% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, November 25th. Investors of record on Friday, October 31st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Wednesday, October 29th.
A number of analysts have recently weighed in on SIG shares. Analysts at Deutsche Bank raised their price target on shares of Signet Jewelers from $115.00 to $125.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at Telsey Advisory Group raised their price target on shares of Signet Jewelers from $120.00 to $131.00 in a research note on Friday. They now have a “not rated” rating on the stock. Finally, analysts at Topeka Capital Markets raised their price target on shares of Signet Jewelers from $125.00 to $130.00 in a research note on Thursday. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $122.65.
The stock has a 50-day moving average of $106.9 and a 200-day moving average of $102.9. The company has a market cap of $9.432 billion and a price-to-earnings ratio of 25.13.
Signet Jewelers Limited (NYSE:SIG) is a specialty retail jeweler by sales in the United States and United Kingdom, and also has stores in the Republic of Ireland and Channel Islands.
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