Signet Jewelers Limited (NYSE:SIG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Signet Jewelers Limited (NYSE:SIG) has been assigned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $112.8750.

A number of research firms have commented on SIG. Citigroup boosted 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. Wells Fargo & Company reissued a “mixed” rating on shares of Signet Jewelers in a research note on Wednesday, June 3rd. Stephens restated an “overweight” rating and set a $130.00 target price on shares of Signet Jewelers in a research report on Friday, May 29th. Jefferies Financial Group restated a “buy” rating on shares of Signet Jewelers in a research report on Monday, March 9th. Finally, UBS Group dropped their target price on Signet Jewelers from $126.00 to $121.00 and set a “buy” rating for the company in a research report on Friday, May 22nd.

Signet Jewelers Stock Performance

Signet Jewelers stock opened at $86.86 on Tuesday. The firm has a market cap of $3.42 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.93 and a beta of 1.18. The business’s fifty day moving average is $86.34 and its two-hundred day moving average is $88.43. Signet Jewelers has a 52 week low of $71.61 and a 52 week high of $110.20.

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

Signet Jewelers Dividend Announcement

The company 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. The ex-dividend date is Friday, July 24th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.6%. Signet Jewelers’s payout ratio is presently 17.95%.

Institutional Investors Weigh In On Signet Jewelers

Institutional investors and hedge funds have recently made changes to their positions in the company. Richardson Financial Services Inc. bought a new stake in shares of Signet Jewelers during the fourth quarter worth $31,000. Farther Finance Advisors LLC raised its position in shares of Signet Jewelers by 48.6% during the fourth quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock worth $31,000 after acquiring an additional 124 shares during the last quarter. Parallel Advisors LLC raised its position in shares of 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 acquiring an additional 198 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Signet Jewelers during the fourth quarter worth $39,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of 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 acquiring an additional 333 shares during the last quarter.

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.