Signet Jewelers Limited to Post FY2019 Earnings of $7.60 Per Share, Northcoast Research Forecasts (SIG)
Signet Jewelers Limited (NYSE:SIG) – Research analysts at Northcoast Research boosted their FY2019 earnings estimates for Signet Jewelers Limited in a research report issued to clients and investors on Friday. Northcoast Research analyst K. Szafraniec now anticipates that the company will post earnings per share of $7.60 for the year, up from their prior forecast of $7.50. Northcoast Research has a “Neutral” rating on the stock.
Other equities analysts have also issued research reports about the stock. BidaskClub lowered shares of Signet Jewelers Limited from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Needham & Company LLC set a $69.00 price objective on shares of Signet Jewelers Limited and gave the stock a “buy” rating in a research report on Saturday, August 19th. Instinet reissued a “buy” rating and set a $73.00 target price (up from $70.00) on shares of Signet Jewelers Limited in a research note on Monday, August 28th. Wells Fargo & Company reissued an “outperform” rating and set a $75.00 target price (up from $70.00) on shares of Signet Jewelers Limited in a research note on Thursday, August 24th. Finally, Telsey Advisory Group increased their target price on Signet Jewelers Limited from $60.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $70.93.
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Signet Jewelers Limited (NYSE SIG) traded up 2.27% during trading on Monday, reaching $67.63. The company had a trading volume of 1,181,853 shares. The stock has a market cap of $4.09 billion, a PE ratio of 10.18 and a beta of 0.98. Signet Jewelers Limited has a 52-week low of $46.09 and a 52-week high of $101.46. The company has a 50-day moving average price of $62.74 and a 200 day moving average price of $62.06.
Signet Jewelers Limited (NYSE:SIG) last posted its quarterly earnings data on Thursday, August 24th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.23. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Signet Jewelers Limited had a return on equity of 20.86% and a net margin of 7.62%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.14 earnings per share.
The company also recently disclosed 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 is Thursday, October 26th. This represents a $1.24 dividend on an annualized basis and a yield of 1.83%. Signet Jewelers Limited’s dividend payout ratio is currently 19.14%.
Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted 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 valued at $287,037,000 after acquiring an additional 4,013,758 shares during the last quarter. Causeway Capital Management LLC grew its position in Signet Jewelers Limited by 61.3% in the first quarter. Causeway Capital Management LLC now owns 2,439,144 shares of the company’s stock worth $194,106,000 after acquiring an additional 927,355 shares in the last quarter. Clearbridge Investments LLC grew its position in Signet Jewelers Limited by 173.4% in the first quarter. Clearbridge Investments LLC now owns 1,295,909 shares of the company’s stock worth $89,768,000 after acquiring an additional 821,914 shares in the last quarter. SRS Investment Management LLC grew its position in Signet Jewelers Limited by 54.2% in the first quarter. SRS Investment Management LLC now owns 1,817,103 shares of the company’s stock worth $125,871,000 after acquiring an additional 638,954 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Signet Jewelers Limited by 64.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,106,207 shares of the company’s stock worth $69,960,000 after acquiring an additional 434,562 shares in the last quarter.
Signet Jewelers Limited Company Profile
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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