Signet Jewelers Limited (NYSE:SIG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Signet Jewelers Limited (NYSE:SIG) has been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $112.00.

Several analysts have recently commented on the stock. 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 reaffirmed a “hold (c)” rating on shares of Signet Jewelers in a report on Wednesday, January 21st. Royal Bank Of Canada raised shares of Signet Jewelers to a “hold” rating in a report on Monday, March 30th. Zacks Research downgraded shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, The Goldman Sachs Group raised shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st.

Signet Jewelers Stock Performance

Signet Jewelers stock opened at $92.85 on Thursday. The business’s 50-day simple moving average is $90.79 and its two-hundred day simple moving average is $92.84. The company has a market cap of $3.72 billion, a PE ratio of 13.02, a PEG ratio of 1.08 and a beta of 1.25. Signet Jewelers has a fifty-two week low of $52.14 and a fifty-two week high of $110.20.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Thursday, March 19th. The company reported $6.25 earnings per share for the quarter, beating the consensus estimate of $6.11 by $0.14. The business had revenue of ($4,468.50) million for the quarter, compared to the consensus estimate of $2.33 billion. Signet Jewelers had a return on equity of 22.22% and a net margin of 4.32%.The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.62 EPS. As a group, analysts predict that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Signet Jewelers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, April 24th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.5%. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, April 24th. Signet Jewelers’s dividend payout ratio is 17.95%.

Institutional Trading of Signet Jewelers

Several hedge funds and other institutional investors have recently bought and sold shares of SIG. LSV Asset Management grew its holdings in Signet Jewelers by 90.0% during the fourth quarter. LSV Asset Management now owns 1,077,851 shares of the company’s stock worth $89,332,000 after acquiring an additional 510,551 shares during the period. Bowen Hanes & Co. Inc. acquired a new stake in Signet Jewelers during the third quarter worth about $47,837,000. Clark Capital Management Group Inc. acquired a new stake in Signet Jewelers during the fourth quarter worth about $35,815,000. UBS Group AG grew its holdings in Signet Jewelers by 185.4% during the fourth quarter. UBS Group AG now owns 545,140 shares of the company’s stock worth $45,181,000 after acquiring an additional 354,108 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Signet Jewelers by 212.2% during the third quarter. JPMorgan Chase & Co. now owns 500,589 shares of the company’s stock worth $48,016,000 after acquiring an additional 340,228 shares during the period.

About Signet Jewelers

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.