Signet Jewelers Limited (SIG) Receives Buy Rating from Royal Bank Of Canada
Signet Jewelers Limited (NYSE:SIG)‘s stock had its “buy” rating reaffirmed by investment analysts at Royal Bank Of Canada in a report issued on Thursday. They currently have a $63.00 price objective on the stock. Royal Bank Of Canada’s target price points to a potential upside of 17.56% from the stock’s previous close.
Several other analysts have also recently weighed in on SIG. Zacks Investment Research upgraded shares of Signet Jewelers Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Signet Jewelers Limited from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Cowen and Company reiterated a “market perform” rating and issued a $54.00 price objective (down previously from $65.00) on shares of Signet Jewelers Limited in a research note on Sunday, May 28th. Bank of America Corporation set a $75.00 target price on shares of Signet Jewelers Limited and gave the company a “buy” rating in a research report on Thursday, June 8th. Finally, J P Morgan Chase & Co dropped their target price on shares of Signet Jewelers Limited from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $77.35.
Signet Jewelers Limited (NYSE:SIG) opened at 53.59 on Thursday. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 8.51 and a beta of 1.00. The firm’s 50-day moving average is $59.46 and its 200-day moving average is $63.68. Signet Jewelers Limited has a 52-week low of $46.09 and a 52-week high of $101.46.
Signet Jewelers Limited (NYSE:SIG) last issued its quarterly earnings data on Thursday, May 25th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.66 by $0.63. Signet Jewelers Limited had a return on equity of 19.20% and a net margin of 7.46%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned $1.95 EPS. Signet Jewelers Limited’s revenue for the quarter was down 11.1% compared to the same quarter last year. Analysts forecast that Signet Jewelers Limited will post $6.68 EPS for the current fiscal year.
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In related news, Director H. Todd Stitzer purchased 2,090 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were bought at an average cost of $47.91 per share, with a total value of $100,131.90. Following the acquisition, the director now owns 16,823 shares of the company’s stock, valued at approximately $805,989.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.52% of the company’s stock.
Several large investors have recently made changes to their positions in SIG. Segantii Capital Management Ltd bought a new stake in shares of Signet Jewelers Limited during the first quarter valued at about $2,924,000. LFL Advisers LLC raised its stake in Signet Jewelers Limited by 244.0% in the first quarter. LFL Advisers LLC now owns 128,500 shares of the company’s stock worth $8,901,000 after buying an additional 91,149 shares during the last quarter. BlackRock Inc. raised its stake 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 buying an additional 4,013,758 shares during the last quarter. ProShare Advisors LLC raised its stake in Signet Jewelers Limited by 113.4% in the first quarter. ProShare Advisors LLC now owns 34,356 shares of the company’s stock worth $2,380,000 after buying an additional 18,257 shares during the last quarter. Finally, James Investment Research Inc. acquired a new stake in Signet Jewelers Limited during the first quarter worth $133,000.
About Signet Jewelers Limited
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.
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