Signet Jewelers (NYSE:SIG) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Signet Jewelers (NYSE:SIG) from a buy rating to a hold rating in a report published on Saturday.

Other equities analysts have also issued research reports about the stock. Telsey Advisory Group increased their target price on shares of Signet Jewelers from $80.00 to $92.00 and gave the stock a “market perform” rating in a research report on Friday, July 25th. Bank of America increased their target price on shares of Signet Jewelers from $65.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 4th. Wells Fargo & Company increased their target price on shares of Signet Jewelers from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 4th. Jefferies Financial Group started coverage on shares of Signet Jewelers in a research report on Monday, June 16th. They issued a “buy” rating and a $102.00 price objective for the company. Finally, UBS Group raised their price objective on shares of Signet Jewelers from $84.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.86.

Signet Jewelers Stock Up 2.5%

Shares of NYSE:SIG opened at $84.01 on Friday. The firm has a market capitalization of $3.46 billion, a PE ratio of 91.31, a P/E/G ratio of 0.74 and a beta of 1.40. Signet Jewelers has a twelve month low of $45.55 and a twelve month high of $106.28. The company has a 50-day moving average price of $80.63 and a two-hundred day moving average price of $66.08.

Signet Jewelers (NYSE:SIG) last issued its earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.17. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. Signet Jewelers had a net margin of 0.63% and a return on equity of 22.41%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $1.11 earnings per share. Analysts anticipate that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Signet Jewelers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, July 25th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, July 25th. Signet Jewelers’s dividend payout ratio (DPR) is currently 139.13%.

Institutional Investors Weigh In On Signet Jewelers

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE raised its stake in Signet Jewelers by 0.4% in the second quarter. US Bancorp DE now owns 30,302 shares of the company’s stock valued at $2,411,000 after purchasing an additional 121 shares in the last quarter. Yousif Capital Management LLC raised its stake in Signet Jewelers by 0.8% in the second quarter. Yousif Capital Management LLC now owns 17,220 shares of the company’s stock valued at $1,370,000 after purchasing an additional 133 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Signet Jewelers by 1.9% in the second quarter. Quadrant Capital Group LLC now owns 8,696 shares of the company’s stock valued at $692,000 after purchasing an additional 162 shares in the last quarter. Versant Capital Management Inc raised its stake in Signet Jewelers by 40.5% in the first quarter. Versant Capital Management Inc now owns 773 shares of the company’s stock valued at $45,000 after purchasing an additional 223 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Signet Jewelers by 2.1% in the second quarter. Nisa Investment Advisors LLC now owns 11,008 shares of the company’s stock valued at $876,000 after purchasing an additional 224 shares in the last quarter.

About Signet Jewelers

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.