Signet Jewelers (NYSE:SIG) Stock Rating Upgraded by StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Signet Jewelers (NYSE:SIG – Free Report) from a hold rating to a buy rating in a research report released on Tuesday.

Other equities research analysts also recently issued reports about the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $87.00 price objective on shares of Signet Jewelers in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on shares of Signet Jewelers from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group lowered their price objective on shares of Signet Jewelers from $145.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Bank of America dropped their target price on shares of Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $109.60.

View Our Latest Analysis on SIG

Signet Jewelers Stock Performance

Shares of NYSE SIG opened at $92.04 on Tuesday. The firm’s 50 day moving average price is $92.02 and its 200-day moving average price is $91.68. Signet Jewelers has a 52-week low of $68.15 and a 52-week high of $112.06. The company has a market cap of $4.05 billion, a PE ratio of 10.65, a P/E/G ratio of 1.05 and a beta of 2.10.

Signet Jewelers (NYSE:SIG – Get Free Report) last released its quarterly earnings data on Thursday, September 12th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.11. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 EPS. On average, analysts forecast that Signet Jewelers will post 10.8 earnings per share for the current fiscal year.

Signet Jewelers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, October 25th. Signet Jewelers’s dividend payout ratio (DPR) is presently 13.43%.

Insider Buying and Selling

In other news, insider Mary Elizabeth Finn sold 8,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $80.00, for a total transaction of $640,000.00. Following the completion of the sale, the insider now owns 46,821 shares of the company’s stock, valued at $3,745,680. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Signet Jewelers news, CEO Virginia Drosos sold 3,475 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $101.67, for a total transaction of $353,303.25. Following the sale, the chief executive officer now owns 775,345 shares in the company, valued at approximately $78,829,326.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Elizabeth Finn sold 8,000 shares of Signet Jewelers stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $80.00, for a total transaction of $640,000.00. Following the transaction, the insider now directly owns 46,821 shares in the company, valued at $3,745,680. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,957 shares of company stock valued at $5,910,256. 3.26% of the stock is owned by insiders.

Institutional Trading of Signet Jewelers

Hedge funds and other institutional investors have recently modified their holdings of the company. Atria Investments Inc purchased a new position in shares of Signet Jewelers during the 3rd quarter valued at $254,000. Van ECK Associates Corp raised its holdings in Signet Jewelers by 40.0% during the third quarter. Van ECK Associates Corp now owns 28,081 shares of the company’s stock valued at $2,896,000 after acquiring an additional 8,024 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Signet Jewelers in the third quarter valued at about $25,000. Murphy Pohlad Asset Management LLC boosted its stake in shares of Signet Jewelers by 1.5% in the third quarter. Murphy Pohlad Asset Management LLC now owns 28,325 shares of the company’s stock worth $2,921,000 after acquiring an additional 425 shares during the period. Finally, Trajan Wealth LLC purchased a new stake in shares of Signet Jewelers during the third quarter worth about $258,000.

Signet Jewelers Company Profile

(Get Free Report)

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.

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