Signet Jewelers Limited (NYSE:SIG) Receives $121.20 Average Price Target from Analysts

Shares of Signet Jewelers Limited (NYSE:SIG) have received a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $121.20.

A number of analysts have recently issued reports on SIG shares. UBS Group lifted their price objective on shares of Signet Jewelers from $128.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $110.00 price objective on shares of Signet Jewelers in a report on Thursday, June 13th. Citigroup reaffirmed a “buy” rating and issued a $119.00 price objective on shares of Signet Jewelers in a report on Friday, June 14th. Wells Fargo & Company boosted their price target on shares of Signet Jewelers from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Finally, Bank of America cut their price objective on Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, March 21st.

Signet Jewelers Stock Performance

NYSE SIG opened at $88.70 on Friday. Signet Jewelers has a one year low of $65.12 and a one year high of $112.06. The company’s 50 day moving average price is $97.70 and its 200 day moving average price is $99.50. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 0.93 and a beta of 2.16.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Thursday, June 13th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.82 by $0.29. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm posted $1.78 earnings per share. Signet Jewelers’s revenue for the quarter was down 9.4% compared to the same quarter last year. Sell-side analysts forecast that Signet Jewelers will post 10.6 EPS for the current fiscal year.

Signet Jewelers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.16 annualized dividend and a dividend yield of 1.31%. Signet Jewelers’s payout ratio is 9.43%.

Insider Activity at Signet Jewelers

In other Signet Jewelers news, Director H. Todd Stitzer sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $100.09, for a total transaction of $1,000,900.00. Following the completion of the sale, the director now owns 41,678 shares of the company’s stock, valued at $4,171,551.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director H. Todd Stitzer sold 10,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $100.09, for a total value of $1,000,900.00. Following the completion of the transaction, the director now directly owns 41,678 shares in the company, valued at $4,171,551.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Vincent Ciccolini sold 4,000 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $101.64, for a total value of $406,560.00. Following the completion of the transaction, the chief accounting officer now owns 46,076 shares of the company’s stock, valued at $4,683,164.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,000 shares of company stock valued at $2,925,010. 3.26% of the stock is owned by corporate insiders.

Institutional Trading of Signet Jewelers

Several large investors have recently made changes to their positions in the business. Boston Partners bought a new stake in shares of Signet Jewelers during the first quarter worth $1,088,000. Cetera Advisors LLC bought a new position in Signet Jewelers in the first quarter valued at about $1,093,000. Tidal Investments LLC bought a new position in Signet Jewelers in the first quarter valued at about $293,000. Janus Henderson Group PLC boosted its holdings in Signet Jewelers by 38.2% in the first quarter. Janus Henderson Group PLC now owns 656,005 shares of the company’s stock valued at $65,646,000 after acquiring an additional 181,207 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in Signet Jewelers in the first quarter valued at about $228,000.

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.