Signet Jewelers Limited (NYSE:SIG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Signet Jewelers Limited (NYSE:SIG) have been given a consensus rating of “Moderate Buy” by the five brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $81.60.

Several research analysts recently weighed in on the company. Cfra Research raised Signet Jewelers to a “moderate buy” rating in a research report on Thursday, March 20th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $55.00 target price on shares of Signet Jewelers in a research report on Wednesday, March 19th. Wells Fargo & Company reduced their price target on Signet Jewelers from $95.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Bank of America dropped their price objective on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, StockNews.com cut shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th.

Signet Jewelers Price Performance

Shares of NYSE:SIG opened at $58.84 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55. The company has a market capitalization of $2.56 billion, a PE ratio of 6.77, a price-to-earnings-growth ratio of 3.43 and a beta of 2.20. The stock has a fifty day moving average of $54.46 and a 200-day moving average of $77.71. Signet Jewelers has a one year low of $45.55 and a one year high of $112.06.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Wednesday, March 19th. The company reported $6.62 earnings per share for the quarter, beating analysts’ consensus estimates of $6.39 by $0.23. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the company posted $6.73 EPS. Signet Jewelers’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities analysts anticipate that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Signet Jewelers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, April 25th. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 2.18%. Signet Jewelers’s dividend payout ratio (DPR) is presently -168.42%.

Insider Transactions at Signet Jewelers

In other news, Director Eugenia Ulasewicz sold 3,333 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $54.13, for a total transaction of $180,415.29. Following the completion of the transaction, the director now directly owns 22,752 shares in the company, valued at $1,231,565.76. The trade was a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Signet Jewelers

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its position in Signet Jewelers by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 703 shares of the company’s stock worth $57,000 after purchasing an additional 421 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Signet Jewelers during the third quarter worth about $77,000. Sterling Capital Management LLC increased its stake in Signet Jewelers by 832.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,362 shares of the company’s stock valued at $110,000 after acquiring an additional 1,216 shares during the period. CIBC Private Wealth Group LLC raised its holdings in Signet Jewelers by 32.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company’s stock valued at $123,000 after acquiring an additional 410 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Signet Jewelers by 34.6% in the 4th quarter. KBC Group NV now owns 1,740 shares of the company’s stock worth $140,000 after acquiring an additional 447 shares during the period.

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.