Brokerages Set Signet Jewelers Limited (NYSE:SIG) Target Price at $112.88

Shares of Signet Jewelers Limited (NYSE:SIG) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $112.00.

Several brokerages have issued reports on SIG. Royal Bank Of Canada upgraded shares of Signet Jewelers to a “hold” rating in a report on Monday, March 30th. Wells Fargo & Company restated a “mixed” rating on shares of Signet Jewelers in a report on Wednesday, June 3rd. Raymond James Financial began coverage on shares of Signet Jewelers in a report on Thursday. They issued an “outperform” rating and a $105.00 price target for the company. UBS Group lowered their price target on shares of Signet Jewelers from $126.00 to $121.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Finally, Stephens reiterated an “overweight” rating and set a $130.00 price objective on shares of Signet Jewelers in a research note on Friday, May 29th.

Signet Jewelers Stock Up 1.6%

Shares of NYSE SIG opened at $91.08 on Friday. Signet Jewelers has a twelve month low of $71.61 and a twelve month high of $110.20. The firm has a market cap of $3.58 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.94 and a beta of 1.15. The business has a fifty day simple moving average of $85.57 and a two-hundred day simple moving average of $88.52.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.18. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.55 billion. Signet Jewelers had a return on equity of 22.54% and a net margin of 4.29%.The business’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.18 EPS. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. On average, research analysts expect that Signet Jewelers will post 10.57 earnings per share for the current year.

Signet Jewelers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, July 24th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, July 24th. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. Signet Jewelers’s dividend payout ratio is currently 13.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in shares of Signet Jewelers by 87.2% during the 1st quarter. Royal Bank of Canada now owns 17,564 shares of the company’s stock worth $1,020,000 after purchasing an additional 8,183 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Signet Jewelers by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company’s stock valued at $49,333,000 after purchasing an additional 213,365 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Signet Jewelers by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,573 shares of the company’s stock valued at $7,117,000 after purchasing an additional 10,964 shares during the last quarter. Prudential Financial Inc. raised its holdings in Signet Jewelers by 55.4% in the second quarter. Prudential Financial Inc. now owns 5,935 shares of the company’s stock worth $472,000 after purchasing an additional 2,116 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Signet Jewelers by 171.2% in the second quarter. EverSource Wealth Advisors LLC now owns 678 shares of the company’s stock worth $54,000 after purchasing an additional 428 shares in the last quarter.

Signet Jewelers Company Profile

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.