Signet Jewelers Ltd. (SIG) Raised to Hold at Zacks Investment Research
Signet Jewelers Ltd. (NYSE:SIG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Signet Jewelers Ltd. is engaged in retailing of jewelry, watches and associated services. The company operates primarily in the United States, the United Kingdom, the Republic of Ireland and the Channel Islands. Signet Jewelers Ltd., formerly known as Signet Group PLC, is based in Hamilton, Bermuda. “
A number of other research analysts have also recently weighed in on SIG. Vetr cut shares of Signet Jewelers from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a report on Monday, November 7th. Bank of America Corp. reiterated a “buy” rating and set a $110.00 price target on shares of Signet Jewelers in a report on Tuesday, September 13th. Royal Bank Of Canada lowered their price target on shares of Signet Jewelers from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, August 26th. Telsey Advisory Group lowered their price target on shares of Signet Jewelers from $140.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, August 26th. Finally, JPMorgan Chase & Co. cut shares of Signet Jewelers from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $136.00 to $90.00 in a report on Tuesday, August 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $107.25.
Signet Jewelers (NYSE:SIG) opened at 92.44 on Tuesday. Signet Jewelers has a one year low of $72.65 and a one year high of $141.98. The stock has a market cap of $6.99 billion, a PE ratio of 14.09 and a beta of 1.17. The company’s 50 day moving average is $80.49 and its 200 day moving average is $88.02.
Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Thursday, August 25th. The company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by $0.31. The business earned $1.40 billion during the quarter, compared to analyst estimates of $1.44 billion. Signet Jewelers had a net margin of 7.86% and a return on equity of 18.70%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS. On average, equities research analysts expect that Signet Jewelers will post $7.27 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Friday, October 28th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 26th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.13%. Signet Jewelers’s dividend payout ratio (DPR) is presently 15.90%.
Several institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in shares of Signet Jewelers by 6.8% in the second quarter. Pacer Advisors Inc. now owns 1,561 shares of the company’s stock worth $129,000 after buying an additional 100 shares during the last quarter. Virtus Investment Advisers Inc. acquired a new stake in shares of Signet Jewelers during the third quarter worth approximately $146,000. MU Investments Co. Ltd. acquired a new stake in shares of Signet Jewelers during the second quarter worth approximately $148,000. Toronto Dominion Bank boosted its stake in shares of Signet Jewelers by 429.6% in the third quarter. Toronto Dominion Bank now owns 2,198 shares of the company’s stock worth $164,000 after buying an additional 1,783 shares during the last quarter. Finally, FNY Managed Accounts LLC acquired a new stake in shares of Signet Jewelers during the second quarter worth approximately $181,000.
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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