Signet Jewelers Limited (NYSE:SIG) Receives $121.20 Average Price Target from Analysts

Signet Jewelers Limited (NYSE:SIG) has received a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $120.20.

A number of equities research analysts recently commented on the company. Citigroup reiterated a “buy” rating and issued a $119.00 target price on shares of Signet Jewelers in a research report on Friday, June 14th. Wells Fargo & Company raised their target price on shares of Signet Jewelers from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, June 3rd. UBS Group boosted their target price on shares of Signet Jewelers from $128.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. StockNews.com downgraded Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $105.00 price objective on shares of Signet Jewelers in a report on Wednesday, July 24th.

Insider Activity

In other Signet Jewelers news, insider Jamie Singleton sold 18,105 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $83.11, for a total transaction of $1,504,706.55. Following the transaction, the insider now owns 162,942 shares in the company, valued at $13,542,109.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Mary Elizabeth Finn sold 8,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $86.94, for a total value of $695,520.00. Following the completion of the sale, the insider now owns 54,821 shares of the company’s stock, valued at approximately $4,766,137.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jamie Singleton sold 18,105 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $83.11, for a total transaction of $1,504,706.55. Following the transaction, the insider now owns 162,942 shares of the company’s stock, valued at approximately $13,542,109.62. The disclosure for this sale can be found here. Insiders have sold 40,439 shares of company stock worth $3,498,919 in the last ninety days. Company insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Signet Jewelers by 6.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,168 shares of the company’s stock valued at $911,000 after buying an additional 614 shares during the last quarter. GAM Holding AG acquired a new position in Signet Jewelers during the second quarter worth $3,995,000. Allspring Global Investments Holdings LLC grew its holdings in Signet Jewelers by 17.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,159 shares of the company’s stock valued at $283,000 after buying an additional 479 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Signet Jewelers by 2.7% in 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 last quarter. Finally, SummerHaven Investment Management LLC increased its stake in shares of Signet Jewelers by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 10,405 shares of the company’s stock worth $932,000 after acquiring an additional 144 shares during the last quarter.

Signet Jewelers Stock Performance

Shares of SIG stock opened at $84.72 on Tuesday. Signet Jewelers has a fifty-two week low of $65.12 and a fifty-two week high of $112.06. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 0.89 and a beta of 2.17. The stock’s 50-day simple moving average is $93.46 and its 200-day simple moving average is $97.37.

Signet Jewelers (NYSE:SIG) last released its earnings results on Thursday, June 13th. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.29. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. Signet Jewelers’s revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 EPS. As a group, equities analysts forecast that Signet Jewelers will post 10.6 earnings per share for the current year.

Signet Jewelers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, July 26th. Signet Jewelers’s payout ratio is currently 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.