Signet Jewelers Limited (NYSE:SIG) Receives $109.60 Average Target Price from Brokerages

Signet Jewelers Limited (NYSE:SIG) has received a consensus rating of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $109.60.

Several brokerages recently issued reports on SIG. Bank of America cut their target price on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Telsey Advisory Group restated a “market perform” rating and issued a $87.00 target price on shares of Signet Jewelers in a research note on Thursday, December 5th. Wells Fargo & Company upped their price target on Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, UBS Group cut their target price on Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th.

Insider Buying and Selling

In other news, insider Oded Edelman sold 1,398 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $94.53, for a total transaction of $132,152.94. Following the completion of the sale, the insider now directly owns 32,666 shares of the company’s stock, valued at $3,087,916.98. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eugenia Ulasewicz sold 3,333 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $99.63, for a total transaction of $332,066.79. Following the completion of the transaction, the director now directly owns 26,085 shares in the company, valued at $2,598,848.55. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,568 shares of company stock worth $1,705,653. 3.26% of the stock is owned by corporate insiders.

Institutional Trading of Signet Jewelers

Several hedge funds have recently added to or reduced their stakes in SIG. Blue Trust Inc. increased its stake in shares of Signet Jewelers by 15.3% during the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock worth $82,000 after purchasing an additional 122 shares during the last quarter. Raymond James & Associates lifted its position in shares of Signet Jewelers by 46.1% during the 2nd quarter. Raymond James & Associates now owns 53,947 shares of the company’s stock valued at $4,833,000 after buying an additional 17,030 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Signet Jewelers by 2.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company’s stock worth $2,016,000 after acquiring an additional 600 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Signet Jewelers by 17.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,159 shares of the company’s stock worth $283,000 after acquiring an additional 479 shares during the period. Finally, GAM Holding AG purchased a new stake in Signet Jewelers in the 2nd quarter worth about $3,995,000.

Signet Jewelers Stock Performance

Shares of Signet Jewelers stock opened at $82.46 on Friday. The company has a market cap of $3.59 billion, a P/E ratio of 9.49, a PEG ratio of 1.04 and a beta of 2.10. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $92.53 and a two-hundred day moving average price of $89.41. Signet Jewelers has a 1-year low of $72.26 and a 1-year high of $112.06.

Signet Jewelers (NYSE:SIG) last released its earnings results on Thursday, December 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.05). The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.37 billion. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS. As a group, analysts anticipate that Signet Jewelers will post 9.88 EPS for the current year.

Signet Jewelers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, January 24th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.16 annualized dividend and a dividend yield of 1.41%. Signet Jewelers’s payout ratio is 13.35%.

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.