Signet Jewelers Limited (SIG) Price Target Raised to $57.00 at Cowen and Company
Signet Jewelers Limited (NYSE:SIG) had its price objective hoisted by equities researchers at Cowen and Company from $54.00 to $57.00 in a research note issued on Friday. The brokerage currently has a “market perform” rating on the stock. Cowen and Company’s price target points to a potential downside of 2.41% from the company’s current price.
Several other brokerages have also recently weighed in on SIG. Bank of America Corporation set a $75.00 price target on Signet Jewelers Limited and gave the stock a “buy” rating in a research note on Thursday, June 8th. Goldman Sachs Group, Inc. (The) reduced their price target on Signet Jewelers Limited from $100.00 to $88.00 and set a “neutral” rating on the stock in a research note on Sunday, March 5th. Northcoast Research reaffirmed a “hold” rating on shares of Signet Jewelers Limited in a research note on Saturday, March 11th. CL King cut Signet Jewelers Limited from a “buy” rating to a “neutral” rating and set a $85.00 price target on the stock. in a research note on Friday, May 26th. Finally, Buckingham Research cut Signet Jewelers Limited from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $86.00 to $65.00 in a research note on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. Signet Jewelers Limited presently has an average rating of “Hold” and a consensus target price of $79.75.
Shares of Signet Jewelers Limited (NYSE SIG) traded up 2.51% during trading on Friday, hitting $58.41. The company had a trading volume of 2,734,984 shares. Signet Jewelers Limited has a 1-year low of $46.09 and a 1-year high of $101.46. The company’s 50 day moving average is $58.35 and its 200 day moving average is $72.19. The firm has a market capitalization of $4.00 billion, a P/E ratio of 9.28 and a beta of 1.03.
Signet Jewelers Limited (NYSE:SIG) last issued its quarterly earnings results on Thursday, May 25th. The company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.63. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Signet Jewelers Limited had a return on equity of 19.20% and a net margin of 7.46%. Signet Jewelers Limited’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.95 earnings per share. Analysts anticipate that Signet Jewelers Limited will post $6.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Friday, July 28th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Wednesday, July 26th. Signet Jewelers Limited’s payout ratio is currently 19.97%.
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In other Signet Jewelers Limited news, Director H. Todd Stitzer purchased 2,090 shares of the stock in a transaction dated Wednesday, May 31st. The shares were purchased at an average cost of $47.91 per share, with a total value of $100,131.90. Following the completion of the acquisition, the director now directly owns 16,823 shares in the company, valued at approximately $805,989.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.52% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Signet Jewelers Limited by 3,088.1% in the first quarter. BlackRock Inc. now owns 4,143,731 shares of the company’s stock worth $287,037,000 after buying an additional 4,013,758 shares during the last quarter. Causeway Capital Management LLC increased its position in shares of Signet Jewelers Limited by 61.3% in the first quarter. Causeway Capital Management LLC now owns 2,439,144 shares of the company’s stock worth $194,106,000 after buying an additional 927,355 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Signet Jewelers Limited by 173.4% in the first quarter. Clearbridge Investments LLC now owns 1,295,909 shares of the company’s stock worth $89,768,000 after buying an additional 821,914 shares during the last quarter. Norges Bank acquired a new position in shares of Signet Jewelers Limited during the fourth quarter worth about $68,768,000. Finally, Investec Asset Management LTD increased its position in shares of Signet Jewelers Limited by 67.8% in the first quarter. Investec Asset Management LTD now owns 1,667,622 shares of the company’s stock worth $115,516,000 after buying an additional 674,101 shares during the last quarter.
Signet Jewelers Limited Company Profile
Signet Jewelers Limited is a retailer of diamond jewelry. The Company’s segments include the Sterling Jewelers division; the Zale division, which consists of the Zale Jewelry and Piercing Pagoda segments; the UK Jewelry division, and Other. The Sterling Jewelers division’s stores operate in the United States principally as Kay Jewelers (Kay), Kay Jewelers Outlet, Jared The Galleria Of Jewelry (Jared) and Jared Vault.
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