Signet Jewelers Limited (NYSE:SIG) Given Average Rating of “Moderate Buy” by Analysts

Signet Jewelers Limited (NYSE:SIG) has been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $115.3750.

Several research firms have recently commented on SIG. Telsey Advisory Group restated a “market perform” rating and set a $96.00 price objective on shares of Signet Jewelers in a report on Thursday, March 19th. UBS Group decreased their price objective on Signet Jewelers from $126.00 to $121.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Wells Fargo & Company boosted their price objective on Signet Jewelers from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, March 20th. Royal Bank Of Canada upgraded Signet Jewelers to a “hold” rating in a report on Monday, March 30th. Finally, Wall Street Zen downgraded Signet Jewelers from a “strong-buy” rating to a “hold” rating in a report on Sunday, March 22nd.

Signet Jewelers Price Performance

NYSE SIG opened at $86.96 on Friday. The business has a 50 day simple moving average of $86.34 and a 200 day simple moving average of $89.78. Signet Jewelers has a one year low of $65.20 and a one year high of $110.20. The stock has a market capitalization of $3.48 billion, a P/E ratio of 12.20, a P/E/G ratio of 0.96 and a beta of 1.20.

Signet Jewelers (NYSE:SIG) last released its earnings results on Thursday, March 19th. The company reported $6.25 EPS for the quarter, topping the consensus estimate of $6.11 by $0.14. Signet Jewelers had a return on equity of 22.22% and a net margin of 4.32%.The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter last year, the firm posted $6.62 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. Equities analysts expect that Signet Jewelers will post 10.3 earnings per share for the current year.

Signet Jewelers Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, April 24th were issued a dividend of $0.35 per share. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, April 24th. Signet Jewelers’s dividend payout ratio is presently 17.95%.

Institutional Investors Weigh In On Signet Jewelers

Several hedge funds and other institutional investors have recently modified their holdings of the company. Amundi increased its holdings in shares of Signet Jewelers by 34.4% during the first quarter. Amundi now owns 11,360 shares of the company’s stock valued at $962,000 after acquiring an additional 2,906 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Signet Jewelers by 29.6% during the first quarter. California State Teachers Retirement System now owns 45,309 shares of the company’s stock valued at $3,835,000 after acquiring an additional 10,354 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Signet Jewelers by 11.9% during the first quarter. Empowered Funds LLC now owns 156,800 shares of the company’s stock valued at $13,272,000 after acquiring an additional 16,665 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Signet Jewelers by 43.9% during the first quarter. Quantinno Capital Management LP now owns 10,894 shares of the company’s stock valued at $922,000 after acquiring an additional 3,323 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Signet Jewelers during the first quarter valued at approximately $261,000.

About Signet Jewelers

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.