Signet Jewelers (NYSE:SIG) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Signet Jewelers Limited (NYSE:SIG) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $92.81 and traded as high as $92.91. Signet Jewelers shares last traded at $91.0450, with a volume of 1,300,580 shares changing hands.

Wall Street Analyst Weigh In

SIG has been the topic of a number of analyst reports. Royal Bank Of Canada upgraded shares of Signet Jewelers to a “hold” rating in a research report on Monday, March 30th. Telsey Advisory Group restated a “market perform” rating and set a $96.00 target price on shares of Signet Jewelers in a research report on Thursday, March 19th. Jefferies Financial Group restated a “buy” rating on shares of Signet Jewelers in a research report on Monday, March 9th. Wells Fargo & Company increased their target price on shares of Signet Jewelers from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, March 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Signet Jewelers in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Signet Jewelers has an average rating of “Moderate Buy” and an average target price of $112.00.

Signet Jewelers Stock Performance

The stock’s fifty day moving average price is $90.73 and its two-hundred day moving average price is $92.80. The company has a market cap of $3.80 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.05 and a beta of 1.25.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, March 19th. The company reported $6.25 earnings per share for the quarter, topping analysts’ consensus estimates of $6.11 by $0.14. Signet Jewelers had a net margin of 4.32% and a return on equity of 22.22%. The company had revenue of ($4,468.50) million during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the firm posted $6.62 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, equities research analysts forecast that Signet Jewelers Limited will post 8.73 EPS for the current year.

Signet Jewelers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, April 24th will be issued a dividend of $0.35 per share. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, April 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. Signet Jewelers’s payout ratio is currently 17.95%.

Institutional Trading of Signet Jewelers

Institutional investors and hedge funds have recently made changes to their positions in the company. Salomon & Ludwin LLC bought a new stake in shares of Signet Jewelers during the 3rd quarter worth approximately $31,000. Richardson Financial Services Inc. bought a new stake in shares of Signet Jewelers during the 4th quarter worth approximately $31,000. Farther Finance Advisors LLC lifted its stake in Signet Jewelers by 48.6% in the 4th quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock valued at $31,000 after purchasing an additional 124 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Signet Jewelers in the 4th quarter valued at approximately $39,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Signet Jewelers by 111.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 633 shares of the company’s stock valued at $52,000 after purchasing an additional 333 shares during the last quarter.

About Signet Jewelers

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.