Signet Jewelers (NYSE:SIG) Coverage Initiated by Analysts at CL King

CL King assumed coverage on shares of Signet Jewelers (NYSE:SIG) in a report released on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $80.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Cfra Research raised shares of Signet Jewelers to a “moderate buy” rating in a research note on Thursday, March 20th. Wells Fargo & Company reduced their price objective on shares of Signet Jewelers from $70.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 30th. Telsey Advisory Group restated a “market perform” rating and set a $55.00 price objective on shares of Signet Jewelers in a report on Wednesday, March 19th. UBS Group increased their target price on shares of Signet Jewelers from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. Finally, Bank of America decreased their price target on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $78.00.

Signet Jewelers Trading Down 0.5 %

SIG stock opened at $60.94 on Monday. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. Signet Jewelers has a twelve month low of $45.55 and a twelve month high of $112.06. The company has a market cap of $2.61 billion, a P/E ratio of 7.01, a PEG ratio of 3.43 and a beta of 1.63. The business has a fifty day moving average of $55.13 and a 200-day moving average of $70.02.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 earnings per share for the quarter, topping the consensus estimate of $6.39 by $0.23. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $6.73 EPS. As a group, equities research analysts expect that Signet Jewelers will post 8.73 EPS for the current year.

Signet Jewelers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Friday, April 25th. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.29. Signet Jewelers’s dividend payout ratio (DPR) is currently -168.42%.

Insiders Place Their Bets

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $54.13, for a total value of $180,415.29. Following the completion of the sale, the director now owns 22,752 shares of the company’s stock, valued at approximately $1,231,565.76. This represents a 12.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Helen Mccluskey acquired 1,700 shares of the firm’s stock in a transaction dated Friday, April 25th. The stock was purchased at an average cost of $58.86 per share, with a total value of $100,062.00. Following the transaction, the director now owns 31,916 shares in the company, valued at approximately $1,878,575.76. This trade represents a 5.63 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Signet Jewelers by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,550,233 shares of the company’s stock worth $205,830,000 after acquiring an additional 139,109 shares during the period. Cooper Creek Partners Management LLC lifted its holdings in Signet Jewelers by 1,046.3% during the 4th quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company’s stock valued at $152,495,000 after purchasing an additional 1,724,592 shares during the last quarter. Anomaly Capital Management LP boosted its position in Signet Jewelers by 862.5% during the fourth quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company’s stock worth $142,253,000 after purchasing an additional 1,579,410 shares during the period. American Century Companies Inc. increased its holdings in shares of Signet Jewelers by 18.9% in the fourth quarter. American Century Companies Inc. now owns 1,150,441 shares of the company’s stock valued at $92,852,000 after purchasing an additional 182,948 shares during the last quarter. Finally, Khrom Capital Management LLC raised its position in shares of Signet Jewelers by 24.2% in the fourth quarter. Khrom Capital Management LLC now owns 1,149,682 shares of the company’s stock valued at $92,791,000 after purchasing an additional 224,339 shares during the period.

About Signet Jewelers

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.