Signet Jewelers (NYSE:SIG) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Signet Jewelers Limited (NYSE:SIG)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $88.26 and traded as high as $90.66. Signet Jewelers shares last traded at $89.9690, with a volume of 933,741 shares changing hands.

Wall Street Analyst Weigh In

SIG has been the topic of several analyst reports. Wall Street Zen lowered shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a report on Sunday, March 22nd. Wells Fargo & Company restated a “mixed” rating on shares of Signet Jewelers in a research report on Wednesday, June 3rd. Citigroup raised their price objective on Signet Jewelers from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. UBS Group reduced their target price on Signet Jewelers from $126.00 to $121.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Finally, Stephens reiterated an “overweight” rating and set a $130.00 target price on shares of Signet Jewelers in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Signet Jewelers presently has an average rating of “Moderate Buy” and an average target price of $112.88.

Signet Jewelers Trading Up 3.4%

The firm’s 50 day moving average price is $84.36 and its two-hundred day moving average price is $88.26. The company has a market capitalization of $3.54 billion, a P/E ratio of 12.62, a PEG ratio of 0.91 and a beta of 1.15.

Signet Jewelers (NYSE:SIG) last issued its earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18. Signet Jewelers had a net margin of 4.29% and a return on equity of 22.54%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the previous year, the company earned $1.18 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. Analysts anticipate that Signet Jewelers Limited will post 10.57 earnings per share for the current fiscal year.

Signet Jewelers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, July 24th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, July 24th. Signet Jewelers’s dividend payout ratio is presently 13.46%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SIG. Handelsbanken Fonder AB raised its stake in Signet Jewelers by 5.0% in the second quarter. Handelsbanken Fonder AB now owns 12,700 shares of the company’s stock valued at $1,095,000 after purchasing an additional 600 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Signet Jewelers in the 2nd quarter valued at about $139,000. Pacer Advisors Inc. raised its position in shares of Signet Jewelers by 7.9% in the 1st quarter. Pacer Advisors Inc. now owns 283,706 shares of the company’s stock valued at $24,013,000 after buying an additional 20,780 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Signet Jewelers by 101.0% during the 1st quarter. Parallel Advisors LLC now owns 394 shares of the company’s stock worth $33,000 after acquiring an additional 198 shares during the period. Finally, Amundi boosted its position in shares of Signet Jewelers by 34.4% during the 1st quarter. Amundi now owns 11,360 shares of the company’s stock worth $962,000 after acquiring an additional 2,906 shares in the last quarter.

Signet Jewelers Company Profile

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.