Signet Jewelers (NYSE:SIG) Hits New 52-Week Low – Here’s What Happened

Signet Jewelers Limited (NYSE:SIG) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $48.59 and last traded at $48.64, with a volume of 1697804 shares changing hands. The stock had previously closed at $52.32.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SIG shares. Telsey Advisory Group dropped their target price on shares of Signet Jewelers from $87.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company lowered their price objective on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Bank of America reduced their target price on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, StockNews.com lowered Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.20.

Signet Jewelers Stock Performance

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’s 50 day moving average is $62.53 and its 200-day moving average is $81.30. The company has a market cap of $2.12 billion, a PE ratio of 5.60, a PEG ratio of 3.43 and a beta of 2.11.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.37 billion. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. Signet Jewelers’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. On average, research analysts anticipate that Signet Jewelers Limited will post 8.73 earnings per share for the current fiscal year.

Signet Jewelers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, January 24th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Friday, January 24th. Signet Jewelers’s dividend payout ratio is presently 13.35%.

Insiders Place Their Bets

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $54.13, for a total value of $180,415.29. Following the transaction, the director now owns 22,752 shares of the company’s stock, valued at $1,231,565.76. This represents a 12.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.26% of the stock is owned by insiders.

Institutional Trading of Signet Jewelers

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. purchased a new position in Signet Jewelers during the third quarter worth about $25,000. Smartleaf Asset Management LLC boosted its position in shares of Signet Jewelers by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock worth $57,000 after purchasing an additional 421 shares during the period. Erste Asset Management GmbH acquired a new stake in Signet Jewelers in the 3rd quarter valued at approximately $77,000. Sterling Capital Management LLC increased its holdings in Signet Jewelers by 832.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,362 shares of the company’s stock valued at $110,000 after purchasing an additional 1,216 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Signet Jewelers by 32.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock valued at $123,000 after purchasing an additional 410 shares during the period.

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.