Published On: Sat, Sep 10th, 2016

Signet Jewelers Ltd. (SIG) Downgraded by Exane BNP Paribas to “Neutral”

Signet Jewelers Ltd. (NYSE:SIG) was downgraded by investment analysts at Exane BNP Paribas from an “outperform” rating to a “neutral” rating in a report released on Friday.
A number of other analysts have also recently weighed in on the stock. BNP Paribas cut shares of Signet Jewelers from an “outperform” rating to a “neutral” rating in a report on Thursday. Vetr cut shares of Signet Jewelers from a “strong-buy” rating to a “buy” rating and set a $91.00 price objective on the stock. in a report on Tuesday. JPMorgan Chase & Co. cut shares of Signet Jewelers from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $136.00 to $90.00 in a report on Tuesday, August 30th. Nomura reaffirmed a “buy” rating and issued a $104.00 price objective on shares of Signet Jewelers in a report on Monday, August 29th. Finally, Johnson Rice cut shares of Signet Jewelers from a “buy” rating to an “accumulate” rating in a report on Monday, August 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $109.64.
Signet Jewelers (NYSE:SIG) opened at 76.90 on Friday. Signet Jewelers has a 12 month low of $76.88 and a 12 month high of $152.27. The firm has a market cap of $5.81 billion, a PE ratio of 11.72 and a beta of 1.48. The firm’s 50-day moving average is $86.81 and its 200-day moving average is $98.58.

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Signet Jewelers (NYSE:SIG) last issued its earnings results on Thursday, August 25th. The company reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.45 by $0.31. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.44 billion. Signet Jewelers had a return on equity of 18.70% and a net margin of 7.86%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the company posted $1.28 earnings per share. Equities analysts expect that Signet Jewelers will post $7.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Friday, October 28th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Wednesday, October 26th. Signet Jewelers’s dividend payout ratio is presently 15.90%.
In other news, CFO Michele Santana acquired 1,150 shares of Signet Jewelers stock in a transaction on Monday, June 13th. The stock was bought at an average cost of $86.52 per share, with a total value of $99,498.00. Following the completion of the purchase, the chief financial officer now owns 14,676 shares of the company’s stock, valued at $1,269,767.52. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sebastian Hobbs acquired 500 shares of Signet Jewelers stock in a transaction on Monday, July 18th. The shares were purchased at an average cost of $91.72 per share, with a total value of $45,860.00. Following the completion of the purchase, the director now directly owns 8,684 shares of the company’s stock, valued at approximately $796,496.48. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Janus Capital Management raised its stake in Signet Jewelers by 299.0% in the third quarter. Janus Capital Management now owns 119,700 shares of the company’s stock worth $16,295,000 after buying an additional 89,700 shares in the last quarter. ICON Advisers raised its stake in Signet Jewelers by 523.3% in the third quarter. ICON Advisers now owns 26,800 shares of the company’s stock worth $3,648,000 after buying an additional 22,500 shares in the last quarter. Capstone Asset Management Company raised its stake in Signet Jewelers by 11.1% in the fourth quarter. Capstone Asset Management Company now owns 9,902 shares of the company’s stock worth $1,225,000 after buying an additional 987 shares in the last quarter. Chevy Chase Trust Holdings raised its stake in Signet Jewelers by 0.6% in the fourth quarter. Chevy Chase Trust Holdings now owns 64,558 shares of the company’s stock worth $7,985,000 after buying an additional 381 shares in the last quarter. Finally, Fourth Swedish National Pension Fund raised its stake in Signet Jewelers by 1.4% in the fourth quarter. Fourth Swedish National Pension Fund now owns 14,820 shares of the company’s stock worth $1,834,000 after buying an additional 210 shares in the last quarter. 95.28% of the stock is owned by institutional investors.
About Signet Jewelers
Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s segments are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment.

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