Signet Jewelers Limited (NYSE:SIG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Signet Jewelers Limited (NYSE:SIGGet Free Report) has earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $114.60.

Several equities research analysts recently issued reports on the company. Citigroup upgraded Signet Jewelers from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $93.00 to $119.00 in a report on Wednesday, December 6th. StockNews.com upgraded Signet Jewelers from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Telsey Advisory Group lowered their price objective on Signet Jewelers from $105.00 to $100.00 and set a “market perform” rating on the stock in a report on Thursday. Bank of America lowered their target price on Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, UBS Group lowered their target price on Signet Jewelers from $138.00 to $134.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th.

Read Our Latest Report on Signet Jewelers

Insider Transactions at Signet Jewelers

In other news, CEO Virginia Drosos sold 35,000 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $95.93, for a total transaction of $3,357,550.00. Following the sale, the chief executive officer now owns 932,740 shares of the company’s stock, valued at $89,477,748.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Virginia Drosos sold 35,000 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $95.93, for a total value of $3,357,550.00. Following the transaction, the chief executive officer now owns 932,740 shares of the company’s stock, valued at $89,477,748.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joan M. Hilson sold 8,000 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $99.00, for a total value of $792,000.00. Following the completion of the transaction, the insider now directly owns 207,733 shares in the company, valued at approximately $20,565,567. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,004 shares of company stock valued at $7,777,634. 4.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Signet Jewelers

Large investors have recently bought and sold shares of the stock. Belpointe Asset Management LLC boosted its stake in Signet Jewelers by 67.9% in the first quarter. Belpointe Asset Management LLC now owns 403 shares of the company’s stock valued at $31,000 after acquiring an additional 163 shares in the last quarter. Quarry LP grew its holdings in shares of Signet Jewelers by 274.1% during the first quarter. Quarry LP now owns 404 shares of the company’s stock worth $31,000 after buying an additional 296 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Signet Jewelers by 37.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock worth $50,000 after buying an additional 127 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in shares of Signet Jewelers by 187.2% during the third quarter. Ronald Blue Trust Inc. now owns 494 shares of the company’s stock worth $35,000 after buying an additional 322 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Signet Jewelers during the fourth quarter worth about $64,000.

Signet Jewelers Price Performance

Signet Jewelers stock opened at $91.11 on Wednesday. The business has a fifty day moving average price of $100.15 and a 200-day moving average price of $88.89. Signet Jewelers has a 1-year low of $57.10 and a 1-year high of $108.79. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 6.08, a PEG ratio of 1.21 and a beta of 2.13.

Signet Jewelers (NYSE:SIGGet Free Report) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $6.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.33 by $0.40. Signet Jewelers had a net margin of 11.30% and a return on equity of 32.26%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the business posted $5.52 EPS. Signet Jewelers’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Signet Jewelers will post 9.65 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 24th. Stockholders of record on Friday, April 26th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.27%. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.23. Signet Jewelers’s dividend payout ratio is currently 7.74%.

About Signet Jewelers

(Get Free Report

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 Jewelers, Zales Outlet, 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.

Featured Stories

Analyst Recommendations for Signet Jewelers (NYSE:SIG)

Receive News & Ratings for Signet Jewelers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signet Jewelers and related companies with MarketBeat.com's FREE daily email newsletter.