Brokerages Set Signet Jewelers Limited (NYSE:SIG) Target Price at $121.20

Signet Jewelers Limited (NYSE:SIG) has received a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $121.20.

A number of research firms recently issued reports on SIG. Telsey Advisory Group restated a “market perform” rating and set a $110.00 price objective on shares of Signet Jewelers in a research report on Thursday, June 13th. Bank of America dropped their price objective on shares of Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, March 21st. UBS Group boosted their target price on shares of Signet Jewelers from $128.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Wells Fargo & Company boosted their price objective on Signet Jewelers from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd.

Signet Jewelers Stock Up 0.4 %

Shares of Signet Jewelers stock opened at $89.58 on Friday. The business has a 50-day moving average price of $98.66 and a 200 day moving average price of $99.87. Signet Jewelers has a fifty-two week low of $64.01 and a fifty-two week high of $112.06. The firm has a market cap of $4.00 billion, a P/E ratio of 7.28, a P/E/G ratio of 0.96 and a beta of 2.12.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Thursday, June 13th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.29. Signet Jewelers had a return on equity of 32.51% and a net margin of 10.91%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the company posted $1.78 EPS. The business’s revenue was down 9.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Signet Jewelers will post 10.6 earnings per share for the current year.

Signet Jewelers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be issued a $0.29 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.16 annualized dividend and a dividend yield of 1.29%. Signet Jewelers’s dividend payout ratio (DPR) is 9.43%.

Insiders Place Their Bets

In related news, Director H. Todd Stitzer sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $100.09, for a total transaction of $1,000,900.00. Following the completion of the sale, the director now directly owns 41,678 shares in the company, valued at $4,171,551.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director H. Todd Stitzer sold 10,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $100.09, for a total transaction of $1,000,900.00. Following the sale, the director now directly owns 41,678 shares of the company’s stock, valued at $4,171,551.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rebecca Wooters sold 3,000 shares of Signet Jewelers stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $90.34, for a total value of $271,020.00. Following the completion of the transaction, the insider now directly owns 90,494 shares in the company, valued at approximately $8,175,227.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,000 shares of company stock worth $2,925,010. 3.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Signet Jewelers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its holdings in shares of Signet Jewelers by 37.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock worth $50,000 after purchasing an additional 127 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Signet Jewelers during the 4th quarter valued at $64,000. Quadrant Capital Group LLC increased its stake in shares of Signet Jewelers by 55.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock worth $164,000 after acquiring an additional 544 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Signet Jewelers by 6.8% in the first quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock worth $183,000 after acquiring an additional 116 shares during the last quarter. Finally, Greenleaf Trust purchased a new stake in shares of Signet Jewelers during the fourth quarter worth $202,000.

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.