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

Signet Jewelers Limited (NYSE:SIG) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $120.20.

SIG has been the subject of several research reports. Telsey Advisory Group raised their price objective on shares of Signet Jewelers from $100.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, April 4th. UBS Group upped their price objective on Signet Jewelers from $128.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Bank of America dropped their target price on Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, March 21st. StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Signet Jewelers from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd.

Signet Jewelers Trading Down 3.8 %

SIG stock opened at $95.77 on Friday. Signet Jewelers has a 1-year low of $57.10 and a 1-year high of $109.17. The business’s 50 day simple moving average is $100.46 and its 200 day simple moving average is $91.48. The firm has a market capitalization of $4.24 billion, a PE ratio of 6.39, a PEG ratio of 1.18 and a beta of 2.13.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Wednesday, March 20th. The company reported $6.73 EPS for the quarter, beating the consensus estimate of $6.33 by $0.40. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.55 billion. Signet Jewelers had a net margin of 11.30% and a return on equity of 32.26%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $5.52 earnings per share. As a group, sell-side analysts predict that Signet Jewelers will post 10.6 EPS for the current fiscal year.

Signet Jewelers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, April 26th will be given a dividend of $0.29 per share. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.16 annualized dividend and a yield of 1.21%. Signet Jewelers’s dividend payout ratio is currently 6.14%.

Insiders Place Their Bets

In other Signet Jewelers news, insider Howard A. Melnick sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $99.60, for a total transaction of $99,600.00. Following the completion of the transaction, the insider now directly owns 65,999 shares in the company, valued at $6,573,500.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider William Brace sold 3,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $99.00, for a total value of $297,000.00. Following the completion of the transaction, the insider now owns 75,664 shares of the company’s stock, valued at $7,490,736. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Howard A. Melnick sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $99.60, for a total transaction of $99,600.00. Following the completion of the sale, the insider now owns 65,999 shares in the company, valued at $6,573,500.40. The disclosure for this sale can be found here. Insiders have sold 91,685 shares of company stock worth $8,912,661 over the last ninety days. Corporate insiders own 4.54% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

Hedge funds have recently modified their holdings of the company. Belpointe Asset Management LLC grew its position in shares of Signet Jewelers by 67.9% in the 1st quarter. Belpointe Asset Management LLC now owns 403 shares of the company’s stock valued at $31,000 after buying an additional 163 shares during the last quarter. Quarry LP raised its holdings in Signet Jewelers by 274.1% during the 1st quarter. Quarry LP now owns 404 shares of the company’s stock worth $31,000 after purchasing an additional 296 shares during the last quarter. Ronald Blue Trust Inc. lifted its position in shares of Signet Jewelers by 187.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 494 shares of the company’s stock worth $35,000 after purchasing an additional 322 shares during the period. Hexagon Capital Partners LLC boosted its stake in shares of Signet Jewelers by 37.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock valued at $50,000 after purchasing an additional 127 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in shares of Signet Jewelers during the first quarter worth $51,000.

Signet Jewelers Company Profile

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.