Signet Jewelers Limited (NYSE:SIG) Receives $112.60 Average PT from Analysts

Signet Jewelers Limited (NYSE:SIG) has received an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $108.60.

A number of analysts have recently commented on the company. Bank of America dropped their price target on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday. StockNews.com lowered shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Wells Fargo & Company dropped their target price 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 reduced their price target on shares of Signet Jewelers from $105.00 to $87.00 and set a “market perform” rating for the company in a research report on Monday, September 9th. Finally, Citigroup reaffirmed a “buy” rating and issued a $119.00 price objective on shares of Signet Jewelers in a research report on Friday, June 14th.

Insiders Place Their Bets

In other news, insider Mary Elizabeth Finn sold 8,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $80.00, for a total transaction of $640,000.00. Following the transaction, the insider now directly owns 46,821 shares of the company’s stock, valued at approximately $3,745,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Rebecca Wooters sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 90,494 shares in the company, valued at approximately $8,175,227.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Elizabeth Finn sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $80.00, for a total transaction of $640,000.00. Following the sale, the insider now owns 46,821 shares of the company’s stock, valued at $3,745,680. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,439 shares of company stock valued at $4,809,869. Company insiders own 3.26% of the company’s stock.

Institutional Investors Weigh In On Signet Jewelers

Hedge funds have recently modified their holdings of the business. Select Equity Group L.P. lifted its position in Signet Jewelers by 2.9% during the second quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock valued at $622,562,000 after purchasing an additional 193,977 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Signet Jewelers by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock valued at $213,809,000 after buying an additional 149,934 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Signet Jewelers by 6.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock valued at $185,347,000 after acquiring an additional 126,726 shares during the period. Eminence Capital LP increased its holdings in Signet Jewelers by 71.3% in the 2nd quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock worth $75,644,000 after acquiring an additional 351,588 shares in the last quarter. Finally, Anomaly Capital Management LP raised its stake in Signet Jewelers by 12.4% during the 2nd quarter. Anomaly Capital Management LP now owns 691,451 shares of the company’s stock worth $61,940,000 after acquiring an additional 76,534 shares during the period.

Signet Jewelers Stock Up 4.8 %

SIG opened at $91.15 on Wednesday. The stock has a market cap of $4.07 billion, a PE ratio of 7.41, a PEG ratio of 0.85 and a beta of 2.10. The business has a 50 day moving average of $81.40 and a 200-day moving average of $92.08. Signet Jewelers has a 52 week low of $65.12 and a 52 week high of $112.06.

Signet Jewelers (NYSE:SIG) last released its earnings results on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm earned $1.55 EPS. The company’s revenue was down 7.6% compared to the same quarter last year. Equities analysts anticipate that Signet Jewelers will post 10.47 EPS for the current year.

Signet Jewelers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 1.27%. Signet Jewelers’s dividend payout ratio (DPR) is 9.43%.

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.