Recent Analysts’ Ratings Updates for Signet Jewelers (SIG)

A number of research firms have changed their ratings and price targets for Signet Jewelers (NYSE: SIG):

• 11/6/2024 – Signet Jewelers was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/29/2024 – Signet Jewelers was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/23/2024 – Signet Jewelers had its price target raised by analysts at Wells Fargo & Company from $105.00 to $110.00. They now have an “overweight” rating on the stock.
• 10/21/2024 – Signet Jewelers was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/10/2024 – Signet Jewelers was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/2/2024 – Signet Jewelers had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $87.00 price target on the stock.
• 10/2/2024 – Signet Jewelers was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 9/16/2024 – Signet Jewelers was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/13/2024 – Signet Jewelers had its price target lowered by analysts at Bank of America Co. from $108.00 to $100.00. They now have a “neutral” rating on the stock.
• 9/11/2024 – Signet Jewelers had its price target lowered by analysts at UBS Group AG from $145.00 to $132.00. They now have a “buy” rating on the stock.
• 9/9/2024 – Signet Jewelers had its price target lowered by analysts at Telsey Advisory Group from $105.00 to $87.00. They now have a “market perform” rating on the stock.

Signet Jewelers Stock Up 6.4 %

SIG traded up $5.89 during trading on Wednesday, hitting $97.57. The company had a trading volume of 754,590 shares, compared to its average volume of 812,096. Signet Jewelers Limited has a one year low of $68.15 and a one year high of $112.06. The firm’s 50-day moving average price is $92.37 and its 200 day moving average price is $91.56. The company has a market capitalization of $4.30 billion, a PE ratio of 11.29, a PEG ratio of 1.03 and a beta of 2.12.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, September 12th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.11. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business earned $1.55 EPS. The company’s revenue was down 7.6% compared to the same quarter last year. Sell-side analysts forecast that Signet Jewelers Limited will post 10.8 earnings per share for the current year.

Signet Jewelers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 annualized dividend and a dividend yield of 1.19%. Signet Jewelers’s dividend payout ratio is presently 13.43%.

Insider Transactions at Signet Jewelers

In other Signet Jewelers news, insider Mary Elizabeth Finn sold 8,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $80.00, for a total value of $640,000.00. Following the completion of the sale, the insider now owns 46,821 shares of the company’s stock, valued at $3,745,680. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Mary Elizabeth Finn sold 8,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $80.00, for a total value of $640,000.00. Following the completion of the transaction, the insider now owns 46,821 shares of the company’s stock, valued at $3,745,680. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Virginia Drosos sold 600 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $101.25, for a total transaction of $60,750.00. Following the completion of the transaction, the chief executive officer now directly owns 728,220 shares of the company’s stock, valued at approximately $73,732,275. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 63,957 shares of company stock worth $5,910,256 in the last ninety days. Insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIG. Allspring Global Investments Holdings LLC increased its position in Signet Jewelers by 9.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,680 shares of the company’s stock valued at $268,000 after acquiring an additional 229 shares during the period. Nordea Investment Management AB increased its position in shares of Signet Jewelers by 25.0% during the first quarter. Nordea Investment Management AB now owns 76,951 shares of the company’s stock worth $7,627,000 after buying an additional 15,376 shares during the period. Empowered Funds LLC increased its position in shares of Signet Jewelers by 7.5% during the first quarter. Empowered Funds LLC now owns 71,918 shares of the company’s stock worth $7,197,000 after buying an additional 4,989 shares during the period. Illinois Municipal Retirement Fund increased its position in shares of Signet Jewelers by 97.3% during the first quarter. Illinois Municipal Retirement Fund now owns 45,593 shares of the company’s stock worth $4,562,000 after buying an additional 22,482 shares during the period. Finally, Swiss National Bank increased its position in shares of Signet Jewelers by 4.0% during the first quarter. Swiss National Bank now owns 87,500 shares of the company’s stock worth $8,756,000 after buying an additional 3,400 shares during the period.

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.