Signet Jewelers Ltd. (SIG) Research Coverage Started at Credit Agricole SA
Research analysts at Credit Agricole SA began coverage on shares of Signet Jewelers Ltd. (NYSE:SIG) in a research note issued on Wednesday. The firm set an “outperform” rating and a $87.00 price target on the stock. Credit Agricole SA’s price objective would suggest a potential upside of 16.15% from the company’s current price.
Several other research analysts have also issued reports on the company. TheStreet lowered Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. Bank of America Corp. restated a “buy” rating and set a $110.00 target price on shares of Signet Jewelers in a research report on Tuesday, September 13th. Cowen and Company downgraded shares of Signet Jewelers from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $96.00 to $85.00 in a research note on Tuesday, September 13th. Vetr raised shares of Signet Jewelers from a “buy” rating to a “strong-buy” rating and set a $91.00 price target for the company in a research note on Monday, September 12th. Finally, Exane BNP Paribas downgraded shares of Signet Jewelers from an “outperform” rating to a “neutral” rating in a research note on Friday, September 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $107.56.
Signet Jewelers (NYSE:SIG) traded up 0.28% during mid-day trading on Wednesday, hitting $74.90. The company had a trading volume of 1,322,931 shares. The firm has a market capitalization of $5.66 billion, a PE ratio of 11.41 and a beta of 1.48. The company has a 50 day moving average of $83.48 and a 200 day moving average of $95.86. Signet Jewelers has a 1-year low of $73.84 and a 1-year high of $152.27.
Signet Jewelers (NYSE:SIG) last announced its earnings results on Thursday, August 25th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by $0.31. Signet Jewelers had a net margin of 7.86% and a return on equity of 18.70%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the firm earned $1.28 EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. Analysts predict that Signet Jewelers will post $7.30 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Friday, October 28th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, October 26th. Signet Jewelers’s dividend payout ratio (DPR) is 15.90%.
In other Signet Jewelers news, Director Sebastian Hobbs acquired 500 shares of Signet Jewelers stock in a transaction that occurred on Monday, July 18th. The stock was bought at an average price of $91.72 per share, with a total value of $45,860.00. Following the completion of the purchase, the director now directly owns 8,684 shares of the company’s stock, valued at approximately $796,496.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Helen Mccluskey acquired 1,000 shares of Signet Jewelers stock in a transaction that occurred on Tuesday, July 19th. The stock was acquired at an average cost of $89.91 per share, with a total value of $89,910.00. Following the purchase, the director now directly owns 6,197 shares of the company’s stock, valued at $557,172.27. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC purchased a new position in Signet Jewelers during the first quarter valued at about $68,564,000. JPMorgan Chase & Co. raised its position in Signet Jewelers by 21.3% in the first quarter. JPMorgan Chase & Co. now owns 174,623 shares of the company’s stock valued at $21,659,000 after buying an additional 30,647 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Signet Jewelers by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,049,603 shares of the company’s stock valued at $254,212,000 after buying an additional 54,523 shares in the last quarter. BlackRock Group LTD raised its position in Signet Jewelers by 0.7% in the first quarter. BlackRock Group LTD now owns 569,472 shares of the company’s stock valued at $70,634,000 after buying an additional 3,755 shares in the last quarter. Finally, Connable Office Inc. purchased a new position in Signet Jewelers during the first quarter valued at about $257,000. 95.28% of the stock is currently owned by institutional investors and hedge funds.
About Signet Jewelers
Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s segments are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment.
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