Signet Jewelers (NYSE:SIG) Announces Earnings Results, Beats Expectations By $0.17 EPS

Signet Jewelers (NYSE:SIG – Get Rating) issued its quarterly earnings results on Thursday. The company reported $5.52 earnings per share for the quarter, topping analysts’ consensus estimates of $5.35 by $0.17, Briefing.com reports. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Signet Jewelers had a net margin of 5.18% and a return on equity of 47.90%. Signet Jewelers’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.01 EPS.

Signet Jewelers Price Performance

Signet Jewelers stock opened at $73.30 on Friday. Signet Jewelers has a 12-month low of $48.31 and a 12-month high of $84.11. The stock has a market capitalization of $3.33 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.79 and a beta of 2.18. The firm’s 50-day moving average is $74.53 and its two-hundred day moving average is $66.55. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.56 and a quick ratio of 0.37.

Signet Jewelers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, April 28th will be paid a dividend of $0.23 per share. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Thursday, April 27th. Signet Jewelers’s dividend payout ratio (DPR) is currently 14.58%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group increased their price target on shares of Signet Jewelers from $79.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $75.00 price target on shares of Signet Jewelers in a report on Thursday. Wells Fargo & Company increased their price target on shares of Signet Jewelers from $90.00 to $100.00 in a report on Friday. StockNews.com initiated coverage on shares of Signet Jewelers in a report on Thursday. They issued a “buy” rating for the company. Finally, Citigroup increased their price target on shares of Signet Jewelers from $60.00 to $77.00 in a report on Wednesday, December 7th. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Insiders Place Their Bets

In other Signet Jewelers news, CEO Virginia Drosos sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The shares were sold at an average price of $75.88, for a total transaction of $758,800.00. Following the sale, the chief executive officer now directly owns 1,106,059 shares of the company’s stock, valued at approximately $83,927,756.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Signet Jewelers news, CEO Virginia Drosos sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 24th. The shares were sold at an average price of $75.88, for a total transaction of $758,800.00. Following the sale, the chief executive officer now directly owns 1,106,059 shares of the company’s stock, valued at approximately $83,927,756.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stash Ptak sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the sale, the insider now directly owns 34,333 shares in the company, valued at $2,574,975. The disclosure for this sale can be found here. Insiders have sold 21,000 shares of company stock valued at $1,570,000 in the last ninety days. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC lifted its position in Signet Jewelers by 27.7% during the fourth quarter. Voya Investment Management LLC now owns 25,889 shares of the company’s stock valued at $1,760,000 after buying an additional 5,622 shares in the last quarter. Truist Financial Corp raised its stake in shares of Signet Jewelers by 114.2% during the fourth quarter. Truist Financial Corp now owns 14,462 shares of the company’s stock valued at $983,000 after purchasing an additional 7,710 shares during the period. State of Wyoming raised its stake in shares of Signet Jewelers by 18.5% during the fourth quarter. State of Wyoming now owns 1,565 shares of the company’s stock valued at $106,000 after purchasing an additional 244 shares during the period. CI Private Wealth LLC purchased a new stake in shares of Signet Jewelers during the fourth quarter valued at approximately $224,000. Finally, Kiwi Wealth Investments Limited Partnership purchased a new stake in shares of Signet Jewelers during the fourth quarter valued at approximately $1,995,000. 97.88% of the stock is owned by institutional investors and hedge funds.

About Signet Jewelers

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Signet Jewelers Ltd. engages in the retail of diamond jewelry. It operates through the following business segments: North America, International, and Others. The North America segment operates jewelry stores in malls, mall-based kiosks, and off-mall locations throughout the U.S. and Canada. The International sells primarily in the UK and Ireland under the H.