Signet Jewelers (NYSE:SIG) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Signet Jewelers (NYSE:SIG) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company reiterated a “mixed” rating on shares of Signet Jewelers in a report on Wednesday, June 3rd. UBS Group raised their price target on Signet Jewelers from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Monday. Stephens reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of Signet Jewelers in a research note on Friday, May 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Signet Jewelers in a report on Monday, July 6th. Finally, Raymond James Financial began coverage on shares of Signet Jewelers in a research report on Thursday, July 23rd. They set an “outperform” rating and a $105.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Signet Jewelers presently has an average rating of “Moderate Buy” and a consensus target price of $112.11.

Signet Jewelers Price Performance

Signet Jewelers stock opened at $84.49 on Monday. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 0.87 and a beta of 1.16. The firm has a 50-day moving average of $88.67 and a two-hundred day moving average of $88.51. Signet Jewelers has a 1 year low of $71.61 and a 1 year high of $110.20.

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, beating the consensus estimate of $1.38 by $0.18. The firm had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.55 billion. Signet Jewelers had a net margin of 4.29% and a return on equity of 22.54%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 earnings per share. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. Research analysts expect that Signet Jewelers will post 10.65 earnings per share for the current year.

Signet Jewelers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, July 24th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, July 24th. Signet Jewelers’s dividend payout ratio (DPR) is 19.64%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its stake in shares of Signet Jewelers by 3.1% in the fourth quarter. CIBC Asset Management Inc now owns 4,072 shares of the company’s stock valued at $337,000 after purchasing an additional 121 shares during the period. Farther Finance Advisors LLC lifted its holdings in Signet Jewelers by 48.6% during the 4th quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock worth $31,000 after buying an additional 124 shares in the last quarter. Amundi boosted its position in Signet Jewelers by 1.9% in the 3rd quarter. Amundi now owns 7,358 shares of the company’s stock valued at $689,000 after buying an additional 140 shares during the period. Xponance LLC grew its stake in shares of Signet Jewelers by 4.6% in the fourth quarter. Xponance LLC now owns 3,450 shares of the company’s stock worth $286,000 after acquiring an additional 152 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of Signet Jewelers by 5.2% during the fourth quarter. Rafferty Asset Management LLC now owns 3,943 shares of the company’s stock worth $327,000 after acquiring an additional 195 shares during the period.

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.