Signet Jewelers Sees Unusually High Options Volume (SIG)

Signet Jewelers (NYSE:SIG) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 4,997 call options on the stock. This is an increase of 1,054% compared to the average daily volume of 433 call options.

Several equities research analysts have weighed in on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $40.00 price target (down from $44.00) on shares of Signet Jewelers in a research note on Tuesday. ValuEngine downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research cut shares of Signet Jewelers from a “hold” rating to a “sell” rating in a report on Wednesday, March 21st. JPMorgan Chase reduced their price objective on shares of Signet Jewelers to $40.00 and set a “neutral” rating for the company in a report on Tuesday, March 20th. Finally, Bank of America cut shares of Signet Jewelers from a “buy” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Tuesday, March 20th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $52.65.

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In related news, insider Oded Edelman purchased 90,398 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was purchased at an average cost of $55.31 per share, with a total value of $4,999,913.38. Following the completion of the purchase, the insider now owns 33,962 shares in the company, valued at approximately $1,878,438.22. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Monroe Bank & Trust MI purchased a new position in Signet Jewelers during the third quarter worth about $179,000. Amundi Pioneer Asset Management Inc. purchased a new position in Signet Jewelers during the fourth quarter worth about $109,000. Delpha Capital Management LLC purchased a new position in Signet Jewelers during the fourth quarter worth about $113,000. First Mercantile Trust Co. purchased a new position in Signet Jewelers during the fourth quarter worth about $157,000. Finally, GSA Capital Partners LLP purchased a new position in Signet Jewelers during the third quarter worth about $202,000.

Signet Jewelers stock traded down $0.06 during midday trading on Friday, hitting $37.43. 2,060,876 shares of the stock were exchanged, compared to its average volume of 4,804,560. Signet Jewelers has a 52-week low of $33.11 and a 52-week high of $77.94. The stock has a market cap of $2,268.75, a PE ratio of 5.75, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.12 and a current ratio of 3.32.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Wednesday, March 14th. The company reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.26 by $0.02. Signet Jewelers had a net margin of 8.30% and a return on equity of 20.34%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the company earned $4.03 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. analysts predict that Signet Jewelers will post 3.96 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 4th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, May 3rd. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.31. This represents a $1.48 annualized dividend and a yield of 3.95%. Signet Jewelers’s payout ratio is 19.05%.

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Signet Jewelers Company Profile

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands.

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