Signet Jewelers Limited (NYSE:SIG) Receives $120.20 Average PT from Analysts

Shares of Signet Jewelers Limited (NYSE:SIG) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. Three research 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 brokers that have covered the stock in the last year is $120.20.

Several equities analysts have recently weighed in on SIG shares. UBS Group raised their price target on Signet Jewelers from $128.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Bank of America dropped their price objective on Signet Jewelers from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, March 21st. Wells Fargo & Company increased their price objective on Signet Jewelers from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, December 22nd. StockNews.com cut Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Finally, Telsey Advisory Group increased their price objective on Signet Jewelers from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, April 4th.

Insider Buying and Selling at Signet Jewelers

In other news, CEO Virginia Drosos sold 10,000 shares of Signet Jewelers stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $99.85, for a total transaction of $998,500.00. Following the transaction, the chief executive officer now owns 922,740 shares in the company, valued at approximately $92,135,589. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Signet Jewelers news, CEO Virginia Drosos sold 10,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $99.85, for a total transaction of $998,500.00. Following the completion of the sale, the chief executive officer now owns 922,740 shares of the company’s stock, valued at $92,135,589. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Oded Edelman sold 7,911 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $105.36, for a total value of $833,502.96. Following the completion of the sale, the insider now owns 33,378 shares of the company’s stock, valued at approximately $3,516,706.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,254 shares of company stock valued at $5,558,494. Insiders own 4.54% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

Several large investors have recently added to or reduced their stakes in SIG. Eminence Capital LP bought a new stake in shares of Signet Jewelers during the 3rd quarter valued at $40,962,000. Norges Bank bought a new stake in Signet Jewelers during the fourth quarter valued at about $52,976,000. Millennium Management LLC lifted its position in shares of Signet Jewelers by 857.4% in the fourth quarter. Millennium Management LLC now owns 457,101 shares of the company’s stock valued at $31,083,000 after acquiring an additional 409,355 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Signet Jewelers by 38.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,262,773 shares of the company’s stock valued at $135,445,000 after acquiring an additional 349,771 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Signet Jewelers in the third quarter valued at about $19,826,000.

Signet Jewelers Price Performance

Shares of NYSE:SIG opened at $93.96 on Friday. Signet Jewelers has a 1-year low of $57.10 and a 1-year high of $109.17. The business has a fifty day moving average price of $100.20 and a 200-day moving average price of $92.01. The company has a market capitalization of $4.16 billion, a PE ratio of 6.27, a PEG ratio of 1.14 and a beta of 2.13.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $6.73 earnings per share for the quarter, beating the consensus estimate of $6.33 by $0.40. Signet Jewelers had a return on equity of 32.26% and a net margin of 11.30%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the company earned $5.52 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts anticipate that Signet Jewelers will post 10.6 earnings per share for the current fiscal year.

Signet Jewelers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, April 26th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.23%. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, April 25th. Signet Jewelers’s payout ratio is 6.14%.

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.