Signet Jewelers Ltd. (SIG) Stock Rating Lowered by Vetr Inc.
Signet Jewelers Ltd. (NYSE:SIG) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday. They currently have a $86.25 price target on the stock. Vetr‘s target price would suggest a potential upside of 7.72% from the company’s previous close.
Several other equities analysts have also issued reports on SIG. Bank of America Corp. reiterated a “buy” rating on shares of Signet Jewelers in a research report on Wednesday, June 8th. Nomura reaffirmed a “buy” rating and set a $148.00 price target on shares of Signet Jewelers in a research report on Thursday, June 9th. Cowen and Company reaffirmed an “outperform” rating and set a $130.00 price target on shares of Signet Jewelers in a research report on Monday, June 20th. Wells Fargo & Co. reaffirmed an “outperform” rating and set a $113.00 price target on shares of Signet Jewelers in a research report on Saturday, June 25th. Finally, Royal Bank Of Canada reduced their price target on Signet Jewelers from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $107.27.
Signet Jewelers (NYSE:SIG) traded down 1.79% during trading on Tuesday, hitting $80.07. 1,324,133 shares of the stock were exchanged. Signet Jewelers has a 1-year low of $72.65 and a 1-year high of $152.27. The firm’s 50 day moving average price is $80.44 and its 200-day moving average price is $94.00. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 12.20 and a beta of 1.46.
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Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Thursday, August 25th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by $0.31. Signet Jewelers had a net margin of 7.86% and a return on equity of 18.70%. The business earned $1.40 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the firm posted $1.28 earnings per share. Signet Jewelers’s revenue for the quarter was down .8% compared to the same quarter last year. On average, analysts anticipate that Signet Jewelers will post $7.30 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Friday, October 28th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Wednesday, October 26th. Signet Jewelers’s payout ratio is 15.90%.
In other news, Director Thomas G. Plaskett acquired 300 shares of the stock in a transaction on Friday, July 22nd. The shares were purchased at an average price of $88.88 per share, for a total transaction of $26,664.00. Following the transaction, the director now directly owns 16,407 shares of the company’s stock, valued at $1,458,254.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Helen Mccluskey acquired 1,000 shares of the stock in a transaction on Tuesday, July 19th. The shares were purchased at an average price of $89.91 per share, for a total transaction of $89,910.00. Following the transaction, the director now directly owns 6,197 shares in the company, valued at $557,172.27. The disclosure for this purchase can be found here. Company insiders own 0.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its position in shares of Signet Jewelers by 2.0% in the first quarter. IFP Advisors Inc now owns 881 shares of the company’s stock worth $109,000 after buying an additional 17 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Signet Jewelers by 6.8% in the second quarter. Pacer Advisors Inc. now owns 1,561 shares of the company’s stock worth $129,000 after buying an additional 100 shares during the last quarter. Bancorpsouth Inc. bought a new position in shares of Signet Jewelers during the first quarter worth approximately $209,000. MU Investments Co. Ltd. bought a new position in shares of Signet Jewelers during the second quarter worth approximately $148,000. Finally, Cleararc Capital Inc. boosted its position in shares of Signet Jewelers by 1.3% in the first quarter. Cleararc Capital Inc. now owns 1,951 shares of the company’s stock worth $242,000 after buying an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.
Signet Jewelers Company Profile
Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s segments are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment.
To view Vetr’s full report, visit Vetr’s official website.
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