Signet Jewelers Limited (SIG) to Issue Quarterly Dividend of $0.29 on May 24th

Signet Jewelers Limited (NYSE:SIG) announced a quarterly dividend on Wednesday, March 20th, Zacks reports. Shareholders of record on Friday, April 26th will be given a dividend of 0.29 per share on Friday, May 24th. This represents a $1.16 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, April 25th. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.23.

Signet Jewelers has increased its dividend payment by an average of 34.0% annually over the last three years and has increased its dividend every year for the last 2 years. Signet Jewelers has a payout ratio of 9.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Signet Jewelers to earn $12.07 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 9.6%.

Signet Jewelers Price Performance

Shares of SIG stock opened at $100.16 on Tuesday. The stock’s fifty day simple moving average is $99.94 and its 200 day simple moving average is $92.72. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 6.68, a P/E/G ratio of 1.13 and a beta of 2.13. Signet Jewelers has a one year low of $57.10 and a one year high of $109.17.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $6.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.33 by $0.40. Signet Jewelers had a return on equity of 32.26% and a net margin of 11.30%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the company posted $5.52 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts anticipate that Signet Jewelers will post 10.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SIG has been the subject of a number of recent research reports. UBS Group boosted their target price on Signet Jewelers from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Bank of America dropped their target price on Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, March 21st. StockNews.com upgraded Signet Jewelers from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Telsey Advisory Group upped their price objective on Signet Jewelers from $100.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $120.20.

Insider Activity at Signet Jewelers

In related news, insider Joan M. Hilson sold 8,000 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $99.00, for a total value of $792,000.00. Following the completion of the sale, the insider now owns 207,733 shares in the company, valued at $20,565,567. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Signet Jewelers news, insider Oded Edelman sold 7,911 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $105.36, for a total value of $833,502.96. Following the completion of the transaction, the insider now directly owns 33,378 shares of the company’s stock, valued at $3,516,706.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joan M. Hilson sold 8,000 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $99.00, for a total value of $792,000.00. Following the completion of the transaction, the insider now directly owns 207,733 shares of the company’s stock, valued at $20,565,567. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,254 shares of company stock worth $4,460,394. 4.54% of the stock is owned by insiders.

Signet Jewelers Company Profile

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.