Signet Jewelers (NYSE:SIG) Hits New 1-Year High – Still a Buy?

Signet Jewelers Limited (NYSE:SIG)’s share price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $126.10 and last traded at $125.1790, with a volume of 33,933 shares. The stock had previously closed at $118.90.

Analyst Ratings Changes

A number of brokerages have commented on SIG. Weiss Ratings raised shares of Signet Jewelers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 24th. Citigroup lifted their price objective on shares of Signet Jewelers from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Zacks Research upgraded shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 22nd. Wells Fargo & Company increased their target price on Signet Jewelers from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, September 9th. Finally, Bank of America raised their price target on Signet Jewelers from $102.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.56.

Signet Jewelers Stock Down 5.0%

The stock has a fifty day moving average of $104.26 and a 200-day moving average of $92.72. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 0.70 and a beta of 1.05.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Wednesday, September 9th. The company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.50. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Signet Jewelers had a net margin of 5.19% and a return on equity of 23.28%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. On average, equities analysts forecast that Signet Jewelers Limited will post 11.70 EPS for the current fiscal year.

Signet Jewelers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 23rd will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.1%. Signet Jewelers’s payout ratio is 16.13%.

Insider Transactions at Signet Jewelers

In other Signet Jewelers news, insider Stash Ptak sold 1,595 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $120.00, for a total value of $191,400.00. Following the completion of the transaction, the insider owned 20,833 shares in the company, valued at $2,499,960. This represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.17% of the stock is owned by corporate insiders.

Institutional Trading of Signet Jewelers

A number of large investors have recently made changes to their positions in SIG. Dimensional Fund Advisors LP lifted its holdings in shares of Signet Jewelers by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,451,725 shares of the company’s stock worth $207,504,000 after purchasing an additional 58,771 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Signet Jewelers by 16.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,015,230 shares of the company’s stock valued at $85,929,000 after buying an additional 145,654 shares during the last quarter. Junto Capital Management LP increased its stake in Signet Jewelers by 96.3% in the 2nd quarter. Junto Capital Management LP now owns 417,016 shares of the company’s stock valued at $35,947,000 after buying an additional 204,596 shares during the period. Pacer Advisors Inc. increased its stake in Signet Jewelers by 7.9% in the 1st quarter. Pacer Advisors Inc. now owns 283,706 shares of the company’s stock valued at $24,013,000 after buying an additional 20,780 shares during the period. Finally, Principal Financial Group Inc. raised its position in Signet Jewelers by 35.9% during the 1st quarter. Principal Financial Group Inc. now owns 265,235 shares of the company’s stock worth $22,449,000 after buying an additional 70,110 shares during the last quarter.

Signet Jewelers Company Profile

Signet Jewelers Limited (NYSE:SIG) is a specialty jewelry retailer that sells diamond jewelry, bridal products, fashion jewelry, watches and related accessories. The company also provides services such as jewelry repair, customization, piercing and financing through its retail and digital channels.

Signet operates through a portfolio of well-known brands, including Kay Jewelers, Zales, Jared, Diamonds Direct, Blue Nile, James Allen, Peoples, H.Samuel, Ernest Jones and Piercing Pagoda. Its brands serve customers across a range of price points and shopping occasions, from engagements and weddings to everyday fashion and gift purchases.

The company serves customers primarily in the United States, Canada and the United Kingdom through a combination of physical stores, online platforms and other digital shopping channels.