Signet Jewelers Limited (SIG) Receives “Market Perform” Rating from Cowen and Company
Cowen and Company reissued their market perform rating on shares of Signet Jewelers Limited (NYSE:SIG) in a report released on Tuesday morning. Cowen and Company currently has a $67.00 price objective on the stock, up from their prior price objective of $61.00.
A number of other research analysts have also recently commented on SIG. Zacks Investment Research raised shares of Signet Jewelers Limited from a sell rating to a hold rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reissued a buy rating and set a $63.00 target price on shares of Signet Jewelers Limited in a research report on Thursday, August 17th. Telsey Advisory Group boosted their target price on shares of Signet Jewelers Limited from $60.00 to $66.00 and gave the stock a market perform rating in a research report on Friday, August 25th. Buckingham Research reissued a neutral rating and set a $51.00 target price on shares of Signet Jewelers Limited in a research report on Saturday, August 26th. Finally, BidaskClub raised shares of Signet Jewelers Limited from a sell rating to a hold rating in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $71.63.
Shares of Signet Jewelers Limited (NYSE SIG) opened at 68.30 on Tuesday. The stock has a 50 day moving average of $59.92 and a 200-day moving average of $62.14. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 10.28 and a beta of 0.99. Signet Jewelers Limited has a one year low of $46.09 and a one year high of $101.46.
Signet Jewelers Limited (NYSE:SIG) last posted its earnings results on Thursday, August 24th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Signet Jewelers Limited had a net margin of 7.62% and a return on equity of 20.86%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that Signet Jewelers Limited will post $7.05 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, October 27th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, October 26th. This represents a $1.24 annualized dividend and a yield of 1.82%. Signet Jewelers Limited’s dividend payout ratio is presently 19.14%.
A number of hedge funds have recently added to or reduced their stakes in the business. Achmea Investment Management B.V. bought a new stake in Signet Jewelers Limited during the second quarter valued at $741,000. Toronto Dominion Bank increased its stake in Signet Jewelers Limited by 23.7% during the second quarter. Toronto Dominion Bank now owns 23,101 shares of the company’s stock valued at $1,461,000 after purchasing an additional 4,433 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Signet Jewelers Limited during the second quarter valued at $329,000. Tower Research Capital LLC TRC increased its stake in Signet Jewelers Limited by 19.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,016 shares of the company’s stock valued at $128,000 after purchasing an additional 335 shares during the last quarter. Finally, Westside Investment Management Inc. increased its stake in Signet Jewelers Limited by 28.5% during the second quarter. Westside Investment Management Inc. now owns 9,275 shares of the company’s stock valued at $565,000 after purchasing an additional 2,055 shares during the last quarter.
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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