Signet Jewelers Limited (NYSE:SIG) Receives $79.67 Average Price Target from Brokerages

Signet Jewelers Limited (NYSE:SIG) has earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $79.67.

A number of research analysts recently commented on SIG shares. Telsey Advisory Group reissued a “market perform” rating and issued a $55.00 target price on shares of Signet Jewelers in a research note on Wednesday, March 19th. UBS Group increased their price objective on Signet Jewelers from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, March 20th. Cfra Research upgraded Signet Jewelers to a “moderate buy” rating in a research report on Thursday, March 20th. CL King began coverage on Signet Jewelers in a research note on Monday, May 5th. They issued a “buy” rating and a $80.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of Signet Jewelers from $60.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 14th.

Insider Activity

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $54.13, for a total transaction of $180,415.29. Following the completion of the transaction, the director now directly owns 22,752 shares of the company’s stock, valued at approximately $1,231,565.76. This represents a 12.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Kevin Symancyk bought 15,000 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were purchased at an average price of $57.45 per share, with a total value of $861,750.00. Following the completion of the acquisition, the chief executive officer now owns 50,710 shares of the company’s stock, valued at $2,913,289.50. This trade represents a 42.01% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.26% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Grace & White Inc. NY lifted its holdings in Signet Jewelers by 6.1% in the 4th quarter. Grace & White Inc. NY now owns 207,262 shares of the company’s stock worth $16,728,000 after buying an additional 11,900 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Signet Jewelers by 22.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 61,568 shares of the company’s stock valued at $4,969,000 after buying an additional 11,218 shares during the period. Magnetar Financial LLC bought a new position in shares of Signet Jewelers during the fourth quarter valued at approximately $2,418,000. Norges Bank bought a new position in shares of Signet Jewelers during the fourth quarter valued at approximately $40,989,000. Finally, Van ECK Associates Corp lifted its stake in Signet Jewelers by 30.5% in the fourth quarter. Van ECK Associates Corp now owns 36,655 shares of the company’s stock worth $2,958,000 after acquiring an additional 8,574 shares during the period.

Signet Jewelers Price Performance

Signet Jewelers stock opened at $62.91 on Monday. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 3.43 and a beta of 1.34. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $59.00 and a 200 day simple moving average of $68.00. Signet Jewelers has a 52 week low of $45.55 and a 52 week high of $112.06.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 earnings per share for the quarter, topping the consensus estimate of $6.39 by $0.23. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. Signet Jewelers’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $6.73 earnings per share. On average, research analysts forecast that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Signet Jewelers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, April 25th will be given a $0.32 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.28 annualized dividend and a yield of 2.03%. This is an increase from Signet Jewelers’s previous quarterly dividend of $0.29. Signet Jewelers’s payout ratio is presently -168.42%.

About Signet Jewelers

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.