Signet Jewelers Ltd. (SIG) Upgraded to “Hold” by Zacks Investment Research
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. “
SIG has been the topic of a number of other reports. Goldman Sachs Group Inc. reaffirmed a neutral rating and set a $102.00 price objective (down from $119.00) on shares of Signet Jewelers in a research report on Sunday, August 28th. Royal Bank Of Canada lowered their price objective on Signet Jewelers from $120.00 to $100.00 and set an outperform rating on the stock in a research report on Friday, August 26th. Cowen and Company reaffirmed an outperform rating and set a $96.00 price objective (down from $130.00) on shares of Signet Jewelers in a research report on Friday, August 26th. Nomura set a $100.00 price target on Signet Jewelers and gave the stock a buy rating in a report on Wednesday, November 23rd. Finally, Telsey Advisory Group lowered their price target on Signet Jewelers from $140.00 to $110.00 and set an outperform rating on the stock in a report on Friday, August 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $106.78.
Signet Jewelers (NYSE:SIG) opened at 93.07 on Friday. Signet Jewelers has a 12 month low of $72.65 and a 12 month high of $135.59. The company has a market capitalization of $7.04 billion, a PE ratio of 14.18 and a beta of 1.17. The firm’s 50-day moving average is $84.26 and its 200-day moving average is $86.70.
Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.10. Signet Jewelers had a return on equity of 19.67% and a net margin of 7.93%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm earned $0.33 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Equities analysts anticipate that Signet Jewelers will post $6.98 EPS for the current fiscal year.
Several large investors have recently modified their holdings of SIG. Price T Rowe Associates Inc. MD boosted its stake in Signet Jewelers by 427.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,128,618 shares of the company’s stock worth $307,706,000 after buying an additional 3,345,862 shares during the period. Nicholas Co. Inc. WI boosted its stake in Signet Jewelers by 885.3% in the second quarter. Nicholas Co. Inc. WI now owns 1,082,895 shares of the company’s stock worth $89,241,000 after buying an additional 972,995 shares during the period. Farallon Capital Management LLC boosted its stake in Signet Jewelers by 47.0% in the second quarter. Farallon Capital Management LLC now owns 2,812,471 shares of the company’s stock worth $231,776,000 after buying an additional 899,618 shares during the period. Point72 Asset Management L.P. boosted its stake in Signet Jewelers by 154.4% in the second quarter. Point72 Asset Management L.P. now owns 1,063,000 shares of the company’s stock worth $87,602,000 after buying an additional 645,100 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Signet Jewelers by 6,001.0% in the second quarter. Canada Pension Plan Investment Board now owns 640,600 shares of the company’s stock worth $52,792,000 after buying an additional 630,100 shares during the period. Hedge funds and other institutional investors own 98.92% of the company’s stock.
Signet Jewelers Company Profile
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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