Signet Jewelers (SIG) Rating Reiterated by JPMorgan Chase

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JPMorgan Chase reiterated their hold rating on shares of Signet Jewelers (NYSE:SIG) in a research report sent to investors on Monday, March 12th. JPMorgan Chase currently has a $52.00 price target on the stock.

A number of other research analysts have also recently weighed in on the stock. Bank of America set a $66.00 price objective on shares of Signet Jewelers and gave the company a buy rating in a report on Saturday, November 25th. Nomura reiterated a buy rating and issued a $64.00 target price on shares of Signet Jewelers in a research report on Wednesday, November 22nd. Needham & Company LLC reiterated a buy rating and issued a $60.00 target price on shares of Signet Jewelers in a research report on Wednesday, November 22nd. They noted that the move was a valuation call. Vetr lowered shares of Signet Jewelers from a strong-buy rating to a buy rating and set a $57.72 price target on the stock. in a research report on Monday, December 11th. Finally, ValuEngine upgraded shares of Signet Jewelers from a hold rating to a buy rating in a research report on Wednesday, March 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $52.65.

NYSE SIG opened at $37.43 on Monday. The firm has a market capitalization of $2,231.83, a price-to-earnings ratio of 5.75, a P/E/G ratio of 1.16 and a beta of 0.84. Signet Jewelers has a 12-month low of $33.11 and a 12-month high of $77.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.32 and a quick ratio of 1.12.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Wednesday, March 14th. The company reported $4.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.26 by $0.02. Signet Jewelers had a net margin of 8.30% and a return on equity of 20.34%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter last year, the company posted $4.03 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. equities analysts anticipate that Signet Jewelers will post 3.99 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 4th will be paid a dividend of $0.37 per share. This is an increase from Signet Jewelers’s previous quarterly dividend of $0.31. This represents a $1.48 annualized dividend and a yield of 3.95%. The ex-dividend date is Thursday, May 3rd. Signet Jewelers’s dividend payout ratio is presently 19.05%.

In related news, insider Oded Edelman bought 90,398 shares of the stock in a transaction dated Friday, January 12th. The stock was acquired at an average price of $55.31 per share, for a total transaction of $4,999,913.38. Following the acquisition, the insider now owns 33,962 shares in the company, valued at approximately $1,878,438.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

A number of large investors have recently modified their holdings of SIG. Hosking Partners LLP raised its position in Signet Jewelers by 0.6% during the 3rd quarter. Hosking Partners LLP now owns 119,049 shares of the company’s stock worth $7,923,000 after buying an additional 712 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Signet Jewelers by 9.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 8,082 shares of the company’s stock worth $538,000 after buying an additional 721 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Signet Jewelers by 1.5% during the 3rd quarter. Great West Life Assurance Co. Can now owns 48,700 shares of the company’s stock worth $3,262,000 after buying an additional 734 shares during the last quarter. Swiss National Bank raised its position in Signet Jewelers by 0.4% during the 3rd quarter. Swiss National Bank now owns 228,600 shares of the company’s stock worth $15,213,000 after buying an additional 1,000 shares during the last quarter. Finally, Mandatum Life Insurance Co Ltd raised its position in Signet Jewelers by 14.3% during the 3rd quarter. Mandatum Life Insurance Co Ltd now owns 8,000 shares of the company’s stock worth $532,000 after buying an additional 1,000 shares during the last quarter.

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About Signet Jewelers

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands.

Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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