Brokerages Set Signet Jewelers Limited (NYSE:SIG) Target Price at $84.67

Signet Jewelers Limited (NYSE:SIG) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $87.14.

A number of equities analysts recently weighed in on SIG shares. UBS Group upped their price target on Signet Jewelers from $84.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Bank of America upped their price target on Signet Jewelers from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. CL King started coverage on Signet Jewelers in a report on Monday, May 5th. They issued a “buy” rating and a $80.00 price target for the company. Jefferies Financial Group initiated coverage on Signet Jewelers in a report on Monday. They issued a “buy” rating and a $102.00 price target for the company. Finally, Telsey Advisory Group boosted their price objective on Signet Jewelers from $62.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, June 3rd.

Signet Jewelers Stock Down 2.7%

Shares of SIG stock opened at $80.48 on Friday. The stock has a market cap of $3.31 billion, a PE ratio of 87.48, a price-to-earnings-growth ratio of 0.76 and a beta of 1.36. Signet Jewelers has a 52-week low of $45.55 and a 52-week high of $106.28. The business has a 50-day simple moving average of $65.25 and a 200-day simple moving average of $64.47.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.17. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Signet Jewelers had a return on equity of 22.41% and a net margin of 0.63%. Signet Jewelers’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 EPS. Sell-side analysts anticipate that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Signet Jewelers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, July 25th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, July 25th. This represents a $1.28 annualized dividend and a yield of 1.59%. Signet Jewelers’s dividend payout ratio (DPR) is currently 139.13%.

Insiders Place Their Bets

In related news, CEO James Kevin Symancyk purchased 15,000 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was acquired at an average cost of $57.45 per share, for a total transaction of $861,750.00. Following the completion of the transaction, the chief executive officer now directly owns 50,710 shares of the company’s stock, valued at approximately $2,913,289.50. This trade represents a 42.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Helen Mccluskey purchased 1,700 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was bought at an average price of $58.86 per share, with a total value of $100,062.00. Following the completion of the transaction, the director now directly owns 31,916 shares of the company’s stock, valued at approximately $1,878,575.76. This represents a 5.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Signet Jewelers

A number of large investors have recently made changes to their positions in SIG. Brooklyn Investment Group grew its position in shares of Signet Jewelers by 42,700.0% in the first quarter. Brooklyn Investment Group now owns 428 shares of the company’s stock valued at $25,000 after purchasing an additional 427 shares in the last quarter. Allworth Financial LP grew its position in Signet Jewelers by 946.8% in the first quarter. Allworth Financial LP now owns 492 shares of the company’s stock worth $29,000 after acquiring an additional 445 shares during the period. Headlands Technologies LLC purchased a new position in Signet Jewelers in the first quarter worth approximately $36,000. Versant Capital Management Inc grew its position in Signet Jewelers by 40.5% in the first quarter. Versant Capital Management Inc now owns 773 shares of the company’s stock worth $45,000 after acquiring an additional 223 shares during the period. Finally, Byrne Asset Management LLC purchased a new position in Signet Jewelers in the first quarter worth approximately $45,000.

About Signet Jewelers

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.