Analysts Set Signet Jewelers Limited (NYSE:SIG) Target Price at $109.60

Shares of Signet Jewelers Limited (NYSE:SIG) have received an average rating of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $109.60.

SIG has been the topic of several analyst reports. UBS Group decreased their target price on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Telsey Advisory Group restated a “market perform” rating and issued a $87.00 price objective on shares of Signet Jewelers in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their target price on shares of Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. StockNews.com downgraded Signet Jewelers from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Bank of America dropped their price objective on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, September 13th.

Signet Jewelers Stock Up 6.1 %

NYSE SIG opened at $97.30 on Thursday. The company has a 50-day simple moving average of $92.37 and a two-hundred day simple moving average of $91.56. Signet Jewelers has a 12-month low of $68.15 and a 12-month high of $112.06. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.03 and a beta of 2.12.

Signet Jewelers (NYSE:SIG) last issued its earnings results on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.11. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. Signet Jewelers’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.55 EPS. Equities analysts expect that Signet Jewelers will post 10.8 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 $0.29 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 annualized dividend and a yield of 1.19%. Signet Jewelers’s dividend payout ratio (DPR) is presently 13.43%.

Insider Buying and Selling at Signet Jewelers

In other news, insider Rebecca Wooters sold 22,151 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $99.00, for a total value of $2,192,949.00. Following the completion of the transaction, the insider now owns 68,343 shares in the company, valued at $6,765,957. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Signet Jewelers news, CEO Virginia Drosos sold 3,475 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $101.67, for a total transaction of $353,303.25. Following the completion of the transaction, the chief executive officer now owns 775,345 shares of the company’s stock, valued at approximately $78,829,326.15. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rebecca Wooters sold 22,151 shares of Signet Jewelers stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $99.00, for a total transaction of $2,192,949.00. Following the transaction, the insider now owns 68,343 shares of the company’s stock, valued at $6,765,957. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,957 shares of company stock valued at $5,910,256. 3.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new position in shares of Signet Jewelers in the third quarter worth approximately $25,000. Brown Brothers Harriman & Co. purchased a new stake in Signet Jewelers in the second quarter worth approximately $51,000. Hexagon Capital Partners LLC grew its position in Signet Jewelers by 33.4% in the 2nd quarter. Hexagon Capital Partners LLC now owns 699 shares of the company’s stock worth $63,000 after purchasing an additional 175 shares during the period. Blue Trust Inc. raised its stake in Signet Jewelers by 15.3% during the 2nd quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after buying an additional 122 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Signet Jewelers by 177.3% during the 3rd quarter. CWM LLC now owns 1,148 shares of the company’s stock valued at $118,000 after buying an additional 734 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.