Signet Jewelers (NYSE:SIG) Given “Overweight” Rating at Stephens

Stephens restated their overweight rating on shares of Signet Jewelers (NYSE:SIG) in a report issued on Friday morning,Benzinga reports. They currently have a $130.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Signet Jewelers in a report on Monday, March 9th. Royal Bank Of Canada raised shares of Signet Jewelers to a “hold” rating in a report on Monday, March 30th. Wall Street Zen downgraded shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Wells Fargo & Company upped their price objective on shares of Signet Jewelers from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, March 20th. Finally, UBS Group decreased their price objective on shares of Signet Jewelers from $126.00 to $121.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.88.

Signet Jewelers Trading Up 0.5%

NYSE SIG opened at $87.40 on Friday. The firm has a market capitalization of $3.50 billion, a P/E ratio of 12.26, a P/E/G ratio of 1.00 and a beta of 1.20. Signet Jewelers has a 12-month low of $65.20 and a 12-month high of $110.20. The firm’s fifty day simple moving average is $86.51 and its two-hundred day simple moving average is $89.76.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Thursday, March 19th. The company reported $6.25 earnings per share for the quarter, beating analysts’ consensus estimates of $6.11 by $0.14. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Signet Jewelers had a net margin of 4.32% and a return on equity of 22.22%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.62 earnings per share. As a group, sell-side analysts predict that Signet Jewelers will post 10.3 earnings per share for the current fiscal 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 given a $0.35 dividend. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, April 24th. Signet Jewelers’s dividend payout ratio (DPR) is presently 17.95%.

Hedge Funds Weigh In On Signet Jewelers

A number of institutional investors have recently modified their holdings of SIG. Richardson Financial Services Inc. purchased a new stake in Signet Jewelers in the fourth quarter valued at approximately $31,000. Farther Finance Advisors LLC grew its holdings in Signet Jewelers by 48.6% in the fourth quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock valued at $31,000 after purchasing an additional 124 shares during the period. Parallel Advisors LLC grew its stake in Signet Jewelers by 101.0% during the first quarter. Parallel Advisors LLC now owns 394 shares of the company’s stock worth $33,000 after buying an additional 198 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in Signet Jewelers during the fourth quarter worth approximately $39,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Signet Jewelers by 111.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 633 shares of the company’s stock worth $52,000 after buying an additional 333 shares during the period.

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.