Signet Jewelers Limited (NYSE:SIG) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Signet Jewelers Limited (NYSE:SIG) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $125.56.

SIG has been the topic of several recent analyst reports. Jefferies Financial Group upped their price target on Signet Jewelers from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Bank of America raised their price objective on Signet Jewelers from $102.00 to $115.00 and gave the company a “neutral” rating in a research note on Thursday, September 10th. Wells Fargo & Company raised their price target on Signet Jewelers from $90.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 9th. Zacks Research raised shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 22nd. Finally, Stephens restated an “overweight” rating and set a $130.00 price objective on shares of Signet Jewelers in a research report on Tuesday, September 8th.

Signet Jewelers Stock Up 0.1%

SIG opened at $117.72 on Monday. The business has a fifty day simple moving average of $101.12 and a 200-day simple moving average of $92.10. The firm has a market cap of $4.51 billion, a PE ratio of 13.56, a P/E/G ratio of 0.65 and a beta of 1.05. Signet Jewelers has a fifty-two week low of $71.61 and a fifty-two week high of $122.64.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.50. Signet Jewelers had a return on equity of 23.28% and a net margin of 5.19%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company earned $1.61 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. On average, equities research analysts anticipate that Signet Jewelers will post 11.70 EPS for the current fiscal year.

Signet Jewelers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 23rd will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, October 23rd. Signet Jewelers’s dividend payout ratio is 16.13%.

Insider Activity

In related news, insider Stash Ptak sold 405 shares of the firm’s stock in a transaction on Friday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $48,600.00. Following the completion of the sale, the insider directly owned 20,428 shares of the company’s stock, valued at $2,451,360. This trade represents a 1.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On Signet Jewelers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIG. Bessemer Group Inc. boosted its holdings in Signet Jewelers by 18.5% during the first quarter. Bessemer Group Inc. now owns 76,274 shares of the company’s stock worth $6,456,000 after purchasing an additional 11,926 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Signet Jewelers by 35.9% during the 1st quarter. Principal Financial Group Inc. now owns 265,235 shares of the company’s stock worth $22,449,000 after purchasing an additional 70,110 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Signet Jewelers by 29.6% in the first quarter. California State Teachers Retirement System now owns 45,309 shares of the company’s stock valued at $3,835,000 after buying an additional 10,354 shares in the last quarter. Engineers Gate Manager LP increased its holdings in Signet Jewelers by 125.6% during the second quarter. Engineers Gate Manager LP now owns 28,610 shares of the company’s stock worth $2,466,000 after buying an additional 15,926 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Signet Jewelers by 11.9% during the first quarter. Empowered Funds LLC now owns 156,800 shares of the company’s stock worth $13,272,000 after buying an additional 16,665 shares during the last quarter.

About Signet Jewelers

Signet Jewelers Limited (NYSE:SIG) is a specialty jewelry retailer that sells diamond jewelry, bridal products, fashion jewelry, watches and related accessories. The company also provides services such as jewelry repair, customization, piercing and financing through its retail and digital channels.

Signet operates through a portfolio of well-known brands, including Kay Jewelers, Zales, Jared, Diamonds Direct, Blue Nile, James Allen, Peoples, H.Samuel, Ernest Jones and Piercing Pagoda. Its brands serve customers across a range of price points and shopping occasions, from engagements and weddings to everyday fashion and gift purchases.

The company serves customers primarily in the United States, Canada and the United Kingdom through a combination of physical stores, online platforms and other digital shopping channels.