Signet Jewelers (NYSE:SIG) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Signet Jewelers (NYSE:SIG) to a hold rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a report on Sunday, March 22nd. Telsey Advisory Group reiterated a “market perform” rating and set a $96.00 price objective on shares of Signet Jewelers in a report on Thursday, March 19th. UBS Group increased their price objective on shares of Signet Jewelers from $118.00 to $126.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Weiss Ratings restated a “hold (c)” rating on shares of Signet Jewelers in a research note on Wednesday, January 21st. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Signet Jewelers in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Signet Jewelers currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.00.

Signet Jewelers Price Performance

NYSE SIG opened at $87.44 on Monday. The stock has a market capitalization of $3.50 billion, a P/E ratio of 12.26, a P/E/G ratio of 0.98 and a beta of 1.25. The business has a 50 day simple moving average of $91.13 and a 200 day simple moving average of $93.16. Signet Jewelers has a one year low of $49.99 and a one year high of $110.20.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, March 19th. The company reported $6.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.11 by $0.14. The firm had revenue of ($4,468.50) million for the quarter, compared to analyst estimates of $2.33 billion. Signet Jewelers had a return on equity of 22.22% and a net margin of 4.32%.The company’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.62 earnings per share. Equities analysts expect that Signet Jewelers will post 8.73 earnings per share for the current year.

Signet Jewelers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, April 24th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, April 24th. This represents a $1.40 dividend on an annualized basis and a yield of 1.6%. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.32. Signet Jewelers’s payout ratio is presently 17.95%.

Institutional Trading of Signet Jewelers

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hood River Capital Management LLC purchased a new position in shares of Signet Jewelers in the 2nd quarter worth approximately $56,537,000. Arrowstreet Capital Limited Partnership grew its holdings 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 valued at $68,554,000 after acquiring an additional 657,444 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of Signet Jewelers during the second quarter valued at approximately $50,342,000. LSV Asset Management lifted its holdings in Signet Jewelers by 90.0% during the fourth quarter. LSV Asset Management now owns 1,077,851 shares of the company’s stock worth $89,332,000 after acquiring an additional 510,551 shares during the period. Finally, Bowen Hanes & Co. Inc. bought a new stake in Signet Jewelers during the third quarter worth $47,837,000.

Signet Jewelers Company Profile

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.