Signet Jewelers (NYSE:SIG) Upgraded at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Signet Jewelers (NYSE:SIG – Free Report) from a hold rating to a buy rating in a report published on Monday morning.

Several other equities analysts have also recently commented on SIG. UBS Group cut their price target on Signet Jewelers from $145.00 to $132.00 and set a buy rating for the company in a report on Wednesday, September 11th. Bank of America cut their target price on Signet Jewelers from $108.00 to $100.00 and set a neutral rating for the company in a research note on Friday, September 13th. Wells Fargo & Company decreased their price target on shares of Signet Jewelers from $125.00 to $105.00 and set an overweight rating on the stock in a research note on Tuesday, August 27th. Telsey Advisory Group dropped their price objective on shares of Signet Jewelers from $105.00 to $87.00 and set a market perform rating for the company in a research note on Monday, September 9th. Finally, Citigroup reiterated a buy rating and set a $119.00 target price on shares of Signet Jewelers in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $108.60.

Read Our Latest Analysis on Signet Jewelers

Signet Jewelers Trading Down 0.4 %

Shares of Signet Jewelers stock opened at $93.18 on Monday. Signet Jewelers has a 1 year low of $65.12 and a 1 year high of $112.06. The company’s fifty day simple moving average is $81.68 and its 200-day simple moving average is $91.95. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 0.95 and a beta of 2.10.

Signet Jewelers (NYSE:SIG – Get Free Report) last posted its quarterly earnings results on Thursday, September 12th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The business’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period last year, the business posted $1.55 EPS. As a group, research analysts forecast that Signet Jewelers will post 10.47 earnings per share for the current fiscal year.

Signet Jewelers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.24%. Signet Jewelers’s payout ratio is presently 9.43%.

Insider Transactions at Signet Jewelers

In other news, insider Mary Elizabeth Finn sold 3,763 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $92.32, for a total transaction of $347,400.16. Following the completion of the sale, the insider now owns 43,058 shares of the company’s stock, valued at $3,975,114.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Signet Jewelers news, insider Mary Elizabeth Finn sold 3,763 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $92.32, for a total value of $347,400.16. Following the transaction, the insider now owns 43,058 shares of the company’s stock, valued at $3,975,114.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rebecca Wooters sold 3,000 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $90.34, for a total value of $271,020.00. Following the completion of the sale, the insider now owns 90,494 shares of the company’s stock, valued at $8,175,227.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,202 shares of company stock valued at $4,422,789. 3.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Signet Jewelers

Institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB increased its holdings in shares of Signet Jewelers by 25.0% in the first quarter. Nordea Investment Management AB now owns 76,951 shares of the company’s stock valued at $7,627,000 after purchasing an additional 15,376 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Signet Jewelers in the 1st quarter valued at $1,093,000. Illinois Municipal Retirement Fund increased its stake in shares of Signet Jewelers by 97.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 45,593 shares of the company’s stock valued at $4,562,000 after buying an additional 22,482 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Signet Jewelers during the fourth quarter worth $1,370,000. Finally, Boston Partners acquired a new position in shares of Signet Jewelers during the first quarter valued at $1,088,000.

About Signet Jewelers

(Get Free Report)

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.

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