Instinet Reiterates Buy Rating for Signet Jewelers Limited (SIG)
Signet Jewelers Limited (NYSE:SIG)‘s stock had its “buy” rating reiterated by Instinet in a research report issued to clients and investors on Wednesday. They presently have a $70.00 target price on the stock. Instinet’s target price indicates a potential upside of 22.85% from the company’s previous close.
A number of other analysts have also recently weighed in on SIG. Telsey Advisory Group cut Signet Jewelers Limited from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $110.00 to $75.00 in a research report on Wednesday, March 1st. Goldman Sachs Group, Inc. (The) cut their target price on Signet Jewelers Limited from $100.00 to $88.00 and set a “neutral” rating for the company in a research note on Sunday, March 5th. Citigroup Inc. cut their target price on Signet Jewelers Limited from $90.00 to $66.00 and set a “neutral” rating for the company in a research note on Tuesday, March 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $78.00 target price (down from $92.00) on shares of Signet Jewelers Limited in a research note on Friday, March 10th. Finally, Cowen and Company reissued a “market perform” rating and set a $78.00 target price (down from $89.00) on shares of Signet Jewelers Limited in a research note on Saturday, March 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. Signet Jewelers Limited presently has an average rating of “Hold” and a consensus target price of $79.75.
Signet Jewelers Limited (NYSE SIG) opened at 56.98 on Wednesday. The company’s 50-day moving average price is $58.35 and its 200 day moving average price is $72.19. Signet Jewelers Limited has a 12 month low of $46.09 and a 12 month high of $101.46. The stock has a market capitalization of $3.90 billion, a PE ratio of 9.05 and a beta of 1.03.
Signet Jewelers Limited (NYSE:SIG) last posted its quarterly earnings data on Thursday, May 25th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by $0.63. Signet Jewelers Limited had a return on equity of 19.20% and a net margin of 7.46%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business posted $1.95 earnings per share. The firm’s revenue was down 11.1% compared to the same quarter last year. On average, analysts forecast that Signet Jewelers Limited will post $6.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Friday, July 28th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Wednesday, July 26th. Signet Jewelers Limited’s payout ratio is currently 19.97%.
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In other news, Director H. Todd Stitzer bought 2,090 shares of Signet Jewelers Limited stock in a transaction that occurred on Wednesday, May 31st. The shares were purchased at an average price of $47.91 per share, for a total transaction of $100,131.90. Following the completion of the acquisition, the director now owns 16,823 shares of the company’s stock, valued at $805,989.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SIG. Ameritas Investment Partners Inc. bought a new position in shares of Signet Jewelers Limited during the first quarter worth approximately $115,000. James Investment Research Inc. bought a new position in shares of Signet Jewelers Limited during the first quarter worth approximately $133,000. Daiwa Securities Group Inc. boosted its position in shares of Signet Jewelers Limited by 16.7% in the first quarter. Daiwa Securities Group Inc. now owns 2,100 shares of the company’s stock worth $145,000 after buying an additional 300 shares in the last quarter. FNY Managed Accounts LLC bought a new position in shares of Signet Jewelers Limited during the first quarter worth approximately $153,000. Finally, Nordea Investment Management AB boosted its position in shares of Signet Jewelers Limited by 2.5% in the first quarter. Nordea Investment Management AB now owns 2,699 shares of the company’s stock worth $187,000 after buying an additional 65 shares in the last quarter.
Signet Jewelers Limited Company Profile
Signet Jewelers Limited is a retailer of diamond jewelry. The Company’s segments include the Sterling Jewelers division; the Zale division, which consists of the Zale Jewelry and Piercing Pagoda segments; the UK Jewelry division, and Other. The Sterling Jewelers division’s stores operate in the United States principally as Kay Jewelers (Kay), Kay Jewelers Outlet, Jared The Galleria Of Jewelry (Jared) and Jared Vault.
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