Signet Jewelers Limited (NYSE:SIG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Signet Jewelers Limited (NYSE:SIG) have received an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $112.8750.

A number of research firms recently commented on SIG. Wall Street Zen downgraded shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a report on Sunday, March 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Signet Jewelers in a research report on Monday, July 6th. Wells Fargo & Company reissued a “mixed” rating on shares of Signet Jewelers in a research note on Wednesday, June 3rd. UBS Group lowered their price target on Signet Jewelers from $126.00 to $121.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Finally, Citigroup raised their price objective on Signet Jewelers from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SIG. Royal Bank of Canada grew its stake in Signet Jewelers by 87.2% in the 1st quarter. Royal Bank of Canada now owns 17,564 shares of the company’s stock valued at $1,020,000 after acquiring an additional 8,183 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Signet Jewelers by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company’s stock worth $49,333,000 after acquiring an additional 213,365 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Signet Jewelers by 9.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,573 shares of the company’s stock worth $7,117,000 after acquiring an additional 10,964 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Signet Jewelers by 55.4% in the second quarter. Prudential Financial Inc. now owns 5,935 shares of the company’s stock valued at $472,000 after purchasing an additional 2,116 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Signet Jewelers by 171.2% in the second quarter. EverSource Wealth Advisors LLC now owns 678 shares of the company’s stock valued at $54,000 after purchasing an additional 428 shares in the last quarter.

Signet Jewelers Stock Performance

Signet Jewelers stock opened at $91.57 on Friday. The company has a market cap of $3.60 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 0.95 and a beta of 1.15. Signet Jewelers has a one year low of $71.61 and a one year high of $110.20. The business has a fifty day moving average of $84.44 and a two-hundred day moving average of $88.29.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18. Signet Jewelers had a net margin of 4.29% and a return on equity of 22.54%. The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the prior year, the company posted $1.18 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. Sell-side analysts predict that Signet Jewelers will post 10.57 EPS for the current year.

Signet Jewelers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, July 24th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.40 annualized dividend and a yield of 1.5%. Signet Jewelers’s dividend payout ratio is 13.46%.

Signet Jewelers Company Profile

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.