Signet Jewelers Limited (NYSE:SIG) Given Average Rating of “Moderate Buy” by Brokerages

Signet Jewelers Limited (NYSE:SIG) has earned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $116.00.

Several research analysts recently commented on SIG shares. Zacks Research cut Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Jefferies Financial Group reiterated a “buy” rating on shares of Signet Jewelers in a research note on Monday, March 9th. The Goldman Sachs Group upgraded Signet Jewelers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. UBS Group boosted their price target on Signet Jewelers from $118.00 to $126.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $96.00 price target on shares of Signet Jewelers in a research note on Thursday, March 19th.

Signet Jewelers Stock Performance

NYSE:SIG opened at $87.25 on Monday. Signet Jewelers has a one year low of $61.92 and a one year high of $110.20. The business’s 50-day simple moving average is $89.58 and its 200 day simple moving average is $91.99. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Thursday, March 19th. The company reported $6.25 EPS for the quarter, topping the consensus estimate of $6.11 by $0.14. Signet Jewelers had a return on equity of 22.22% and a net margin of 4.32%.The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the firm posted $6.62 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. On average, equities research analysts predict that Signet Jewelers will post 10.3 EPS for the current year.

Signet Jewelers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, April 24th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, April 24th. This is an increase from Signet Jewelers’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.6%. Signet Jewelers’s payout ratio is currently 17.95%.

Institutional Trading of Signet Jewelers

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Signet Jewelers by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,451,725 shares of the company’s stock valued at $207,504,000 after buying an additional 58,771 shares in the last quarter. State Street Corp raised its stake in Signet Jewelers by 1.6% during the fourth quarter. State Street Corp now owns 1,688,602 shares of the company’s stock valued at $139,951,000 after buying an additional 27,379 shares in the last quarter. American Century Companies Inc. raised its stake in Signet Jewelers by 12.3% during the third quarter. American Century Companies Inc. now owns 1,592,735 shares of the company’s stock valued at $152,775,000 after buying an additional 174,873 shares in the last quarter. LSV Asset Management raised its stake in Signet Jewelers by 90.0% during the fourth quarter. LSV Asset Management now owns 1,077,851 shares of the company’s stock valued at $89,332,000 after buying an additional 510,551 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Signet Jewelers by 9.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 944,668 shares of the company’s stock valued at $90,613,000 after buying an additional 82,899 shares in 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.