Signet Jewelers (NYSE:SIG) Rating Reiterated by Citigroup

Citigroup reaffirmed their buy rating on shares of Signet Jewelers (NYSE:SIGFree Report) in a research note published on Friday morning, MarketBeat Ratings reports. Citigroup currently has a $119.00 price objective on the stock.

Other equities analysts have also issued research reports about the stock. Bank of America reduced their target price on shares of Signet Jewelers from $110.00 to $100.00 and set a neutral rating on the stock in a report on Thursday, March 21st. UBS Group lifted their target price on shares of Signet Jewelers from $128.00 to $152.00 and gave the company a buy rating in a report on Thursday, April 4th. Wells Fargo & Company boosted their price objective on shares of Signet Jewelers from $120.00 to $125.00 and gave the stock an overweight rating in a report on Monday, June 3rd. StockNews.com lowered shares of Signet Jewelers from a buy rating to a hold rating in a report on Saturday, April 27th. Finally, Telsey Advisory Group reiterated a market perform rating and issued a $110.00 price objective on shares of Signet Jewelers in a report on Thursday, June 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $121.20.

View Our Latest Stock Report on SIG

Signet Jewelers Stock Performance

SIG stock opened at $91.58 on Friday. The stock has a market capitalization of $4.08 billion, a P/E ratio of 7.45, a PEG ratio of 0.95 and a beta of 2.12. Signet Jewelers has a one year low of $59.80 and a one year high of $112.06. The company has a 50 day moving average price of $100.28 and a two-hundred day moving average price of $100.06.

Signet Jewelers (NYSE:SIGGet Free Report) last announced its quarterly earnings results on Thursday, June 13th. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.29. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. Signet Jewelers had a net margin of 10.91% and a return on equity of 32.51%. Signet Jewelers’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter last year, the business earned $1.78 EPS. Research analysts forecast that Signet Jewelers will post 10.77 earnings per share for the current fiscal year.

Signet Jewelers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, July 26th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Friday, July 26th. Signet Jewelers’s dividend payout ratio is presently 9.43%.

Insider Activity at Signet Jewelers

In other Signet Jewelers news, insider William Brace sold 3,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $99.00, for a total transaction of $297,000.00. Following the completion of the transaction, the insider now directly owns 75,664 shares of the company’s stock, valued at approximately $7,490,736. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider William Brace sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $99.00, for a total value of $297,000.00. Following the completion of the sale, the insider now directly owns 75,664 shares of the company’s stock, valued at approximately $7,490,736. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director H. Todd Stitzer sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $100.09, for a total transaction of $1,000,900.00. Following the completion of the sale, the director now directly owns 41,678 shares of the company’s stock, valued at $4,171,551.02. The disclosure for this sale can be found here. Insiders sold a total of 35,431 shares of company stock valued at $3,444,267 in the last quarter. Insiders own 3.26% of the company’s stock.

Institutional Trading of Signet Jewelers

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank raised its holdings in shares of Signet Jewelers by 1.4% during the third quarter. Swiss National Bank now owns 94,800 shares of the company’s stock valued at $6,808,000 after acquiring an additional 1,300 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Signet Jewelers by 4.6% during the third quarter. Janney Montgomery Scott LLC now owns 10,135 shares of the company’s stock valued at $728,000 after acquiring an additional 450 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Signet Jewelers by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 627,087 shares of the company’s stock valued at $45,031,000 after acquiring an additional 18,359 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in Signet Jewelers by 8.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,492 shares of the company’s stock valued at $251,000 after buying an additional 261 shares during the period. Finally, Pathstone Family Office LLC acquired a new position in Signet Jewelers in the 3rd quarter valued at approximately $242,000.

About Signet Jewelers

(Get Free Report)

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.

Further Reading

Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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