Signet Jewelers Limited (NYSE:SIG) Receives $115.38 Consensus Target Price from Brokerages

Signet Jewelers Limited (NYSE:SIG) has been given an average rating of “Moderate Buy” by the eleven analysts that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $112.8750.

Several research firms have recently weighed in on SIG. UBS Group decreased their price target on Signet Jewelers from $126.00 to $121.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Citigroup increased their price target on Signet Jewelers from $110.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday. Zacks Research cut Signet Jewelers from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Royal Bank Of Canada raised Signet Jewelers to a “hold” rating in a report on Monday, March 30th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Signet Jewelers in a report on Monday, March 9th.

Signet Jewelers Price Performance

SIG stock opened at $86.79 on Friday. Signet Jewelers has a 1-year low of $71.61 and a 1-year high of $110.20. The business has a fifty day moving average price of $86.26 and a 200-day moving average price of $89.20. The stock has a market capitalization of $3.48 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.98 and a beta of 1.17.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.18. Signet Jewelers had a return on equity of 22.54% and a net margin of 4.29%.The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the business earned $1.18 earnings per share. The company’s revenue was up .8% on a year-over-year basis. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. As a group, analysts anticipate that Signet Jewelers will post 10.4 earnings per share for the current year.

Signet Jewelers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, July 24th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, July 24th. Signet Jewelers’s dividend payout ratio is presently 17.95%.

Institutional Trading of Signet Jewelers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Signet Jewelers by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,451,725 shares of the company’s stock worth $207,504,000 after acquiring an additional 58,771 shares during the last quarter. State Street Corp boosted its stake in shares of Signet Jewelers by 1.6% during the 4th quarter. State Street Corp now owns 1,688,602 shares of the company’s stock worth $139,951,000 after acquiring an additional 27,379 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Signet Jewelers by 12.3% during the 3rd quarter. American Century Companies Inc. now owns 1,592,735 shares of the company’s stock worth $152,775,000 after acquiring an additional 174,873 shares during the last quarter. LSV Asset Management boosted its stake in shares of Signet Jewelers by 90.0% during the 4th quarter. LSV Asset Management now owns 1,077,851 shares of the company’s stock worth $89,332,000 after acquiring an additional 510,551 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Signet Jewelers by 16.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,015,230 shares of the company’s stock worth $85,929,000 after acquiring an additional 145,654 shares during the last quarter.

About Signet Jewelers

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.