Signet Jewelers Limited (NYSE:SIG) Upgraded at BidaskClub

BidaskClub upgraded shares of Signet Jewelers Limited (NYSE:SIG) from a sell rating to a hold rating in a research note published on Wednesday, June 28th.

A number of other brokerages have also weighed in on SIG. Telsey Advisory Group lowered shares of Signet Jewelers Limited from an outperform rating to a market perform rating and decreased their price objective for the company from $110.00 to $75.00 in a report on Wednesday, March 1st. Goldman Sachs Group, Inc. (The) cut their price objective on shares of Signet Jewelers Limited from $100.00 to $88.00 and set a neutral rating on the stock in a research report on Sunday, March 5th. Citigroup Inc. dropped their target price on shares of Signet Jewelers Limited from $90.00 to $66.00 and set a neutral rating on the stock in a research report on Tuesday, March 7th. Royal Bank Of Canada reissued an outperform rating and set a $78.00 target price (down previously from $92.00) on shares of Signet Jewelers Limited in a research report on Friday, March 10th. Finally, Cowen and Company reissued a market perform rating and set a $78.00 target price (down previously from $89.00) on shares of Signet Jewelers Limited in a research report on Saturday, March 11th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $77.35.

Signet Jewelers Limited (NYSE SIG) traded down 1.32% on Wednesday, hitting $61.51. 693,700 shares of the stock were exchanged. Signet Jewelers Limited has a 12 month low of $46.09 and a 12 month high of $101.46. The firm has a market cap of $4.21 billion, a P/E ratio of 9.77 and a beta of 1.01. The company has a 50-day moving average of $60.34 and a 200 day moving average of $66.15.

Signet Jewelers Limited (NYSE:SIG) last posted its earnings results on Thursday, May 25th. The company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by $0.63. Signet Jewelers Limited had a net margin of 7.46% and a return on equity of 19.20%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the business posted $1.95 earnings per share. The business’s revenue was down 11.1% on a year-over-year basis. Equities research analysts expect that Signet Jewelers Limited will post $6.73 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Friday, July 28th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Wednesday, July 26th. Signet Jewelers Limited’s dividend payout ratio is presently 19.97%.

In other Signet Jewelers Limited news, Director H. Todd Stitzer bought 2,090 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was acquired at an average price of $47.91 per share, with a total value of $100,131.90. Following the completion of the acquisition, the director now directly owns 16,823 shares of the company’s stock, valued at $805,989.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in SIG. BlackRock Inc. increased its position 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 buying an additional 4,013,758 shares during the period. Abrams Bison Investments LLC increased its position in Signet Jewelers Limited by 1.5% in the first quarter. Abrams Bison Investments LLC now owns 4,015,847 shares of the company’s stock valued at $278,178,000 after buying an additional 60,847 shares during the period. State Street Corp increased its position in Signet Jewelers Limited by 8.3% in the first quarter. State Street Corp now owns 3,295,739 shares of the company’s stock valued at $228,316,000 after buying an additional 251,763 shares during the period. Causeway Capital Management LLC increased 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 valued at $194,106,000 after buying an additional 927,355 shares during the period. Finally, SRS Investment Management LLC increased 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 valued at $125,871,000 after buying an additional 638,954 shares during the period.

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.

Analyst Recommendations for Signet Jewelers Limited (NYSE:SIG)

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