Signet Jewelers (NYSE:SIG) Upgraded at Zacks Research

Zacks Research upgraded shares of Signet Jewelers (NYSE:SIG) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

SIG has been the subject of a number of other research reports. The Goldman Sachs Group initiated coverage on shares of Signet Jewelers in a report on Thursday, December 11th. They set a “neutral” rating and a $96.00 price target for the company. Jefferies Financial Group upped their target price on Signet Jewelers from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Wells Fargo & Company reduced their target price on Signet Jewelers from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 3rd. Telsey Advisory Group reissued a “market perform” rating and set a $96.00 price target (up previously from $92.00) on shares of Signet Jewelers in a report on Tuesday, December 2nd. Finally, Stephens initiated coverage on Signet Jewelers in a research report on Tuesday, November 11th. They set an “overweight” rating and a $150.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Signet Jewelers currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

Signet Jewelers Price Performance

Shares of NYSE:SIG opened at $93.98 on Monday. The company has a market capitalization of $3.82 billion, a P/E ratio of 28.05, a P/E/G ratio of 1.14 and a beta of 1.18. Signet Jewelers has a 1 year low of $45.55 and a 1 year high of $110.20. The business’s 50 day simple moving average is $90.30 and its 200 day simple moving average is $90.49.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Tuesday, December 2nd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.47. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Signet Jewelers had a return on equity of 24.44% and a net margin of 2.13%.The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. Signet Jewelers has set its FY 2026 guidance at 8.430-9.59 EPS. On average, sell-side analysts anticipate that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Signet Jewelers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, January 23rd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, January 23rd. Signet Jewelers’s dividend payout ratio is presently 38.21%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hood River Capital Management LLC bought a new stake in shares of Signet Jewelers in the 2nd quarter valued at about $56,537,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Signet Jewelers by 321.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 861,769 shares of the company’s stock worth $68,554,000 after acquiring an additional 657,444 shares during the period. Divisadero Street Capital Management LP acquired a new position in shares of Signet Jewelers in the second quarter worth approximately $50,342,000. Bowen Hanes & Co. Inc. bought a new stake in Signet Jewelers in the third quarter valued at approximately $47,837,000. Finally, LSV Asset Management increased its position in Signet Jewelers by 263.4% during the 3rd quarter. LSV Asset Management now owns 567,300 shares of the company’s stock valued at $54,415,000 after purchasing an additional 411,200 shares during the period.

About Signet Jewelers

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.