Signet Jewelers (NYSE:SIG) Reaches New 12-Month Low – What’s Next?

Signet Jewelers Limited (NYSE:SIG)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $53.26 and last traded at $53.30, with a volume of 183504 shares. The stock had previously closed at $54.79.

Analysts Set New Price Targets

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

Signet Jewelers Stock Down 4.6 %

The stock has a market capitalization of $2.27 billion, a PE ratio of 6.00, a P/E/G ratio of 3.83 and a beta of 2.11. The stock’s fifty day simple moving average is $74.28 and its 200-day simple moving average is $84.38. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Thursday, December 5th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.05). Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Signet Jewelers Limited will post 8.73 EPS for the current fiscal year.

Signet Jewelers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, January 24th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.22%. Signet Jewelers’s dividend payout ratio is currently 13.35%.

Institutional Investors Weigh In On Signet Jewelers

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in Signet Jewelers by 1.0% in the 3rd quarter. State Street Corp now owns 1,756,075 shares of the company’s stock worth $181,122,000 after acquiring an additional 16,912 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Signet Jewelers by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 676,289 shares of the company’s stock valued at $54,583,000 after buying an additional 6,393 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Signet Jewelers by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 338,247 shares of the company’s stock worth $27,300,000 after buying an additional 6,542 shares during the period. JPMorgan Chase & Co. grew its position in Signet Jewelers by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 310,852 shares of the company’s stock valued at $32,061,000 after acquiring an additional 3,238 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Signet Jewelers by 54.1% in the third quarter. Rockefeller Capital Management L.P. now owns 218,096 shares of the company’s stock valued at $22,494,000 after purchasing an additional 76,597 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.