Signet Jewelers (NYSE:SIG) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Signet Jewelers (NYSE:SIG) in a report published on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $102.00 price target on the stock.

Several other analysts have also recently issued reports on SIG. Bank of America increased their price target on shares of Signet Jewelers from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Citigroup upped their target price on Signet Jewelers from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. UBS Group boosted their price objective on Signet Jewelers from $84.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Wells Fargo & Company raised their price objective on shares of Signet Jewelers from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 4th. Finally, Cfra Research raised Signet Jewelers to a “moderate buy” rating in a report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.14.

Signet Jewelers Stock Performance

Shares of NYSE:SIG opened at $82.74 on Monday. The firm’s 50-day moving average is $64.82 and its 200 day moving average is $64.36. Signet Jewelers has a 12 month low of $45.55 and a 12 month high of $106.28. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 3.43 and a beta of 1.36.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.17. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. Signet Jewelers’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.11 earnings per share. Research analysts predict that Signet Jewelers will post 8.73 EPS for the current year.

Signet Jewelers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, July 25th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Friday, July 25th. Signet Jewelers’s payout ratio is currently 139.13%.

Insider Buying and Selling at Signet Jewelers

In related news, CEO James Kevin Symancyk purchased 15,000 shares of the stock in a transaction dated Monday, March 31st. The shares were acquired at an average cost of $57.45 per share, for a total transaction of $861,750.00. Following the acquisition, the chief executive officer now directly owns 50,710 shares in the company, valued at approximately $2,913,289.50. The trade was a 42.01% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Helen Mccluskey acquired 1,700 shares of the company’s stock in a transaction that occurred on Friday, April 25th. The stock was purchased at an average price of $58.86 per share, for a total transaction of $100,062.00. Following the acquisition, the director now directly owns 31,916 shares of the company’s stock, valued at $1,878,575.76. The trade was a 5.63% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Signet Jewelers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group boosted its stake in Signet Jewelers by 42,700.0% in the 1st quarter. Brooklyn Investment Group now owns 428 shares of the company’s stock valued at $25,000 after buying an additional 427 shares in the last quarter. Allworth Financial LP raised its position in shares of Signet Jewelers by 946.8% during the 1st quarter. Allworth Financial LP now owns 492 shares of the company’s stock valued at $29,000 after acquiring an additional 445 shares during the last quarter. Headlands Technologies LLC bought a new position in Signet Jewelers during the first quarter worth about $36,000. Versant Capital Management Inc grew its holdings in Signet Jewelers by 40.5% during the first quarter. Versant Capital Management Inc now owns 773 shares of the company’s stock valued at $45,000 after purchasing an additional 223 shares during the period. Finally, Byrne Asset Management LLC bought a new stake in shares of Signet Jewelers in the 1st quarter valued at $45,000.

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.