Analysts Set Signet Jewelers Limited (NYSE:SIG) PT at $81.60

Shares of Signet Jewelers Limited (NYSE:SIG) have earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $81.60.

A number of equities research analysts recently commented on the company. Bank of America decreased their target price on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company decreased their price objective on Signet Jewelers from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. UBS Group raised their target price on shares of Signet Jewelers from $85.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, March 20th. Cfra Research upgraded shares of Signet Jewelers to a “moderate buy” rating in a research report on Thursday, March 20th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $55.00 price objective on shares of Signet Jewelers in a research note on Wednesday, March 19th.

Signet Jewelers Stock Up 0.1 %

SIG opened at $54.75 on Friday. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 6.30, a price-to-earnings-growth ratio of 3.43 and a beta of 2.20. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. The firm’s fifty day moving average is $54.31 and its 200 day moving average is $76.63. Signet Jewelers has a fifty-two week low of $45.55 and a fifty-two week high of $112.06.

Signet Jewelers (NYSE:SIG) last released its earnings results on Wednesday, March 19th. The company reported $6.62 EPS for the quarter, topping the consensus estimate of $6.39 by $0.23. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.73 earnings per share. On average, sell-side analysts forecast that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Signet Jewelers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, April 25th. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.34%. Signet Jewelers’s payout ratio is currently -168.42%.

Insider Buying and Selling

In other Signet Jewelers news, CEO James Kevin Symancyk acquired 15,000 shares of the business’s stock in a transaction on Monday, March 31st. The shares were bought at an average price of $57.45 per share, with a total value of $861,750.00. Following the transaction, the chief executive officer now directly owns 50,710 shares of the company’s stock, valued at $2,913,289.50. The trade was a 42.01 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction 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 sale, the director now owns 22,752 shares of the company’s stock, valued at approximately $1,231,565.76. This trade represents a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Signet Jewelers

Hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Signet Jewelers by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock valued at $57,000 after purchasing an additional 421 shares during the period. Erste Asset Management GmbH bought a new stake in Signet Jewelers during the 3rd quarter valued at $77,000. Versant Capital Management Inc lifted its holdings in shares of Signet Jewelers by 40.5% in the 1st quarter. Versant Capital Management Inc now owns 773 shares of the company’s stock worth $45,000 after buying an additional 223 shares during the period. Sterling Capital Management LLC grew its position in shares of Signet Jewelers by 832.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,362 shares of the company’s stock worth $110,000 after buying an additional 1,216 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Signet Jewelers by 32.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock valued at $123,000 after buying an additional 410 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.