Signet Jewelers Limited (SIG) Downgraded by BidaskClub to Sell
Signet Jewelers Limited (NYSE:SIG) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
Several other equities research analysts have also recently issued reports on SIG. Buckingham Research cut Signet Jewelers Limited from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $86.00 to $65.00 in a report on Wednesday, May 24th. Telsey Advisory Group decreased their target price on shares of Signet Jewelers Limited from $75.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, May 26th. CL King lowered shares of Signet Jewelers Limited from a “buy” rating to a “neutral” rating and set a $85.00 target price on the stock. in a research note on Friday, May 26th. Royal Bank Of Canada set a $63.00 target price on shares of Signet Jewelers Limited and gave the stock a “buy” rating in a research note on Friday, May 26th. Finally, Cowen and Company reissued a “market perform” rating and issued a $54.00 target price (down from $65.00) on shares of Signet Jewelers Limited in a research note on Sunday, May 28th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $77.35.
Signet Jewelers Limited (SIG) traded down 0.82% during midday trading on Monday, hitting $58.27. The company had a trading volume of 870,357 shares. Signet Jewelers Limited has a 1-year low of $46.09 and a 1-year high of $101.46. The company has a 50 day moving average price of $59.26 and a 200 day moving average price of $67.28. The firm has a market capitalization of $3.99 billion, a P/E ratio of 9.26 and a beta of 1.00.
Signet Jewelers Limited (NYSE:SIG) last posted its quarterly earnings data on Thursday, May 25th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.63. Signet Jewelers Limited had a return on equity of 19.20% and a net margin of 7.46%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted $1.95 earnings per share. The company’s quarterly revenue was down 11.1% on a year-over-year basis. Equities research analysts forecast that Signet Jewelers Limited will post $6.73 earnings per share for the current fiscal year.
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In other news, Director H. Todd Stitzer bought 2,090 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were bought at an average price of $47.91 per share, with a total value of $100,131.90. Following the completion of the transaction, the director now directly owns 16,823 shares in the company, valued at $805,989.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. increased its position in Signet Jewelers Limited by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 8,297 shares of the company’s stock valued at $525,000 after buying an additional 46 shares during the period. Nordea Investment Management AB increased its position in Signet Jewelers Limited by 2.5% in the first quarter. Nordea Investment Management AB now owns 2,699 shares of the company’s stock valued at $187,000 after buying an additional 65 shares during the period. Gateway Investment Advisers LLC increased its position in Signet Jewelers Limited by 1.8% in the second quarter. Gateway Investment Advisers LLC now owns 5,201 shares of the company’s stock valued at $329,000 after buying an additional 91 shares during the period. State Treasurer State of Michigan increased its position in Signet Jewelers Limited by 0.4% in the first quarter. State Treasurer State of Michigan now owns 22,844 shares of the company’s stock valued at $1,582,000 after buying an additional 100 shares during the period. Finally, Mason Street Advisors LLC increased its position in Signet Jewelers Limited by 1.1% in the first quarter. Mason Street Advisors LLC now owns 9,618 shares of the company’s stock valued at $666,000 after buying an additional 100 shares during the period.
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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