Cowen and Company Reiterates “Market Perform” Rating for Signet Jewelers Limited (SIG)

Cowen and Company reissued their market perform rating on shares of Signet Jewelers Limited (NYSE:SIG) in a report issued on Tuesday, September 12th. They currently have a $67.00 price objective on the stock, up from their prior price objective of $61.00.

A number of other research firms have also recently commented on SIG. BidaskClub cut Signet Jewelers Limited from a hold rating to a sell rating in a report on Monday, July 24th. Telsey Advisory Group decreased their price target on Signet Jewelers Limited from $75.00 to $58.00 and set a market perform rating on the stock in a report on Friday, May 26th. Bank of America Corporation restated a buy rating and set a $75.00 price objective (down previously from $90.00) on shares of Signet Jewelers Limited in a research report on Sunday, May 28th. Needham & Company LLC set a $69.00 price objective on Signet Jewelers Limited and gave the company a buy rating in a research report on Saturday, August 19th. Finally, Instinet restated a buy rating and set a $73.00 price objective (up previously from $70.00) on shares of Signet Jewelers Limited in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $71.94.

Shares of Signet Jewelers Limited (NYSE:SIG) opened at 64.39 on Tuesday. The company has a 50-day moving average price of $61.20 and a 200-day moving average price of $62.17. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 9.69 and a beta of 0.99. Signet Jewelers Limited has a 12 month low of $46.09 and a 12 month high of $101.46.

Signet Jewelers Limited (NYSE:SIG) last announced its earnings results on Thursday, August 24th. The company reported $1.33 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.23. Signet Jewelers Limited had a return on equity of 20.86% and a net margin of 7.62%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the firm earned $1.14 EPS. Signet Jewelers Limited’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts forecast that Signet Jewelers Limited will post $7.03 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, October 27th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, October 26th. Signet Jewelers Limited’s dividend payout ratio (DPR) is 19.14%.

Large investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Signet Jewelers Limited by 3,088.1% in the first quarter. BlackRock Inc. now owns 4,143,731 shares of the company’s stock worth $287,037,000 after purchasing an additional 4,013,758 shares during the last quarter. Causeway Capital Management LLC grew its holdings in Signet Jewelers Limited by 61.3% in the first quarter. Causeway Capital Management LLC now owns 2,439,144 shares of the company’s stock worth $194,106,000 after purchasing an additional 927,355 shares during the last quarter. Clearbridge Investments LLC grew its holdings in Signet Jewelers Limited by 173.4% in the first quarter. Clearbridge Investments LLC now owns 1,295,909 shares of the company’s stock worth $89,768,000 after purchasing an additional 821,914 shares during the last quarter. Investec Asset Management LTD grew its holdings in Signet Jewelers Limited by 67.8% in the first quarter. Investec Asset Management LTD now owns 1,667,622 shares of the company’s stock worth $115,516,000 after purchasing an additional 674,101 shares during the last quarter. Finally, SRS Investment Management LLC grew its holdings in Signet Jewelers Limited by 54.2% in the first quarter. SRS Investment Management LLC now owns 1,817,103 shares of the company’s stock worth $125,871,000 after purchasing an additional 638,954 shares during the last quarter.

Signet Jewelers Limited Company Profile

Signet Jewelers Limited is a retailer of diamond jewelry. The Company’s segments include the Sterling Jewelers division; the Zale division, which consists of the Zale Jewelry and Piercing Pagoda segments; the UK Jewelry division, and Other. The Sterling Jewelers division’s stores operate in the United States principally as Kay Jewelers (Kay), Kay Jewelers Outlet, Jared The Galleria Of Jewelry (Jared) and Jared Vault.

Analyst Recommendations for Signet Jewelers Limited (NYSE:SIG)

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