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

Signet Jewelers Limited (NYSE:SIG) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $79.67.

Several equities research analysts have recently issued reports on SIG shares. CL King started coverage on Signet Jewelers in a research report on Monday, May 5th. They set a “buy” rating and a $80.00 target price for the company. Wells Fargo & Company raised their target price on Signet Jewelers from $60.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. Cfra Research raised Signet Jewelers to a “moderate buy” rating in a research report on Thursday, March 20th. UBS Group lifted their price objective on Signet Jewelers from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, March 20th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $55.00 price objective on shares of Signet Jewelers in a report on Wednesday, March 19th.

Signet Jewelers Price Performance

Shares of NYSE:SIG opened at $66.11 on Monday. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The stock’s fifty day simple moving average is $58.05 and its two-hundred day simple moving average is $68.27. Signet Jewelers has a 1-year low of $45.55 and a 1-year high of $112.06. The stock has a market cap of $2.84 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 3.43 and a beta of 1.34.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the business earned $6.73 EPS. The business’s revenue was down 5.8% on a year-over-year basis. As a group, analysts forecast that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Signet Jewelers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be issued a $0.32 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.28 annualized dividend and a yield of 1.94%. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.29. Signet Jewelers’s dividend payout ratio (DPR) is -168.42%.

Insiders Place Their Bets

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $54.13, for a total value of $180,415.29. Following the completion of the transaction, the director now owns 22,752 shares in the company, valued at $1,231,565.76. This trade represents a 12.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Kevin Symancyk bought 15,000 shares of the business’s stock in a transaction on Monday, March 31st. The stock was bought at an average price of $57.45 per share, with a total value of $861,750.00. Following the purchase, the chief executive officer now owns 50,710 shares in the company, valued at $2,913,289.50. This trade represents a 42.01% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Signet Jewelers by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 5,205,964 shares of the company’s stock valued at $302,258,000 after acquiring an additional 389,852 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Signet Jewelers by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,550,233 shares of the company’s stock valued at $205,830,000 after acquiring an additional 139,109 shares during the last quarter. Cooper Creek Partners Management LLC boosted its position in shares of Signet Jewelers by 1,046.3% during the 4th quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company’s stock valued at $152,495,000 after acquiring an additional 1,724,592 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Signet Jewelers by 175.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,859,503 shares of the company’s stock valued at $107,963,000 after acquiring an additional 1,183,214 shares during the last quarter. Finally, Anomaly Capital Management LP boosted its position in shares of Signet Jewelers by 862.5% during the 4th quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company’s stock valued at $142,253,000 after acquiring an additional 1,579,410 shares during 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.