Citigroup Reaffirms Buy Rating for Signet Jewelers (NYSE:SIG)

Citigroup reiterated their buy rating on shares of Signet Jewelers (NYSE:SIG) in a research report released on Friday morning, Marketbeat Ratings reports. Citigroup currently has a $119.00 price objective on the stock.

A number of other analysts have also recently weighed in on the stock. Bank of America cut their price objective on shares of Signet Jewelers from $110.00 to $100.00 and set a neutral rating on the stock in a report on Thursday, March 21st. Telsey Advisory Group reaffirmed a market perform rating and issued a $110.00 target price on shares of Signet Jewelers in a report on Thursday, June 13th. Wells Fargo & Company lifted their target price on shares of Signet Jewelers from $120.00 to $125.00 and gave the company an overweight rating in a report on Monday, June 3rd. StockNews.com lowered shares of Signet Jewelers from a buy rating to a hold rating in a research report on Saturday, April 27th. Finally, UBS Group lifted their price objective 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $121.20.

Signet Jewelers Stock Performance

NYSE SIG opened at $91.58 on Friday. Signet Jewelers has a one year low of $59.80 and a one year high of $112.06. The firm has a 50 day simple moving average of $100.28 and a 200-day simple moving average of $100.06. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 0.95 and a beta of 2.12.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Thursday, June 13th. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.29. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The firm’s quarterly revenue was down 9.4% on a year-over-year basis. Equities analysts predict that Signet Jewelers will post 10.77 EPS for the current fiscal year.

Signet Jewelers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.16 annualized dividend and a dividend yield of 1.27%. Signet Jewelers’s dividend payout ratio is presently 9.43%.

Insider Activity at Signet Jewelers

In related news, insider Mary Elizabeth Finn sold 5,431 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $89.53, for a total value of $486,237.43. Following the completion of the transaction, the insider now owns 60,416 shares of the company’s stock, valued at approximately $5,409,044.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Vincent Ciccolini sold 4,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $101.64, for a total transaction of $406,560.00. Following the completion of the sale, the chief accounting officer now owns 46,076 shares of the company’s stock, valued at approximately $4,683,164.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mary Elizabeth Finn sold 5,431 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $89.53, for a total transaction of $486,237.43. Following the sale, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $5,409,044.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,431 shares of company stock valued at $3,444,267. 3.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Signet Jewelers

Institutional investors and hedge funds have recently bought and sold shares of the stock. SummerHaven Investment Management LLC boosted its stake in shares of Signet Jewelers by 1.1% during the 4th quarter. SummerHaven Investment Management LLC now owns 10,163 shares of the company’s stock valued at $1,090,000 after buying an additional 106 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Signet Jewelers by 6.8% during the 1st quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock valued at $183,000 after buying an additional 116 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Signet Jewelers by 37.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 470 shares of the company’s stock valued at $50,000 after buying an additional 127 shares during the last quarter. Commerce Bank boosted its stake in shares of Signet Jewelers by 5.3% during the 4th quarter. Commerce Bank now owns 2,941 shares of the company’s stock valued at $315,000 after buying an additional 148 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Signet Jewelers by 5.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock valued at $303,000 after acquiring an additional 156 shares in the last quarter.

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.