Sterne Agee Increases Signet Jewelers Price Target to $135.00 (SIG)
Equities research analysts at Sterne Agee lifted their price target on shares of Signet Jewelers (NYSE:SIG) to $135.00 in a research note issued to investors on Thursday. Sterne Agee’s target price indicates a potential upside of 24.97% from the company’s current price.
Signet Jewelers (NYSE:SIG) traded up 6.82% during mid-day trading on Thursday, hitting $115.40. The stock had a trading volume of 2,541,141 shares. Signet Jewelers has a one year low of $65.91 and a one year high of $113.18. The stock has a 50-day moving average of $106.8 and a 200-day moving average of $102.8. The company has a market cap of $9.255 billion and a price-to-earnings ratio of 23.33.
Signet Jewelers (NYSE:SIG) last announced its earnings results on Thursday, August 28th. The company reported $1.00 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.99 by $0.01. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 39.3% on a year-over-year basis. Analysts expect that Signet Jewelers will post $5.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, November 25th. Investors of record on Friday, October 31st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Wednesday, October 29th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Signet Jewelers in a research note on Tuesday, August 19th. Separately, analysts at Nomura reiterated a “buy” rating on shares of Signet Jewelers in a research note on Monday, August 4th. Finally, analysts at Zacks upgraded shares of Signet Jewelers from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 23rd. They now have a $113.20 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Signet Jewelers presently has an average rating of “Buy” and an average price target of $120.03.
Signet Jewelers Limited (NYSE:SIG) is a specialty retail jeweler by sales in the United States and United Kingdom, and also has stores in the Republic of Ireland and Channel Islands.
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