Signet Jewelers (NYSE:SIG – Get Free Report) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.
SIG has been the topic of a number of other reports. Raymond James Financial began coverage on shares of Signet Jewelers in a report on Thursday, July 23rd. They set an “outperform” rating and a $105.00 price objective on the stock. Citigroup reiterated a “buy” rating on shares of Signet Jewelers in a report on Tuesday. UBS Group raised their price target on shares of Signet Jewelers from $121.00 to $122.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Signet Jewelers in a research report on Monday, July 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $130.00 price objective on shares of Signet Jewelers in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.11.
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Signet Jewelers Stock Performance
Signet Jewelers (NYSE:SIG – Get Free Report) last posted its earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.18. Signet Jewelers had a return on equity of 22.54% and a net margin of 4.29%.The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the company earned $1.18 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. On average, equities analysts forecast that Signet Jewelers will post 10.65 earnings per share for the current year.
Hedge Funds Weigh In On Signet Jewelers
A number of hedge funds and other institutional investors have recently made changes to their positions in SIG. Farther Finance Advisors LLC raised its position in Signet Jewelers by 48.6% in the fourth quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock worth $31,000 after acquiring an additional 124 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Signet Jewelers during the 2nd quarter worth approximately $32,000. Parallel Advisors LLC increased its stake in shares of Signet Jewelers by 101.0% during the 1st quarter. Parallel Advisors LLC now owns 394 shares of the company’s stock worth $33,000 after purchasing an additional 198 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Signet Jewelers in the 4th quarter worth approximately $39,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Signet Jewelers by 111.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 633 shares of the company’s stock worth $52,000 after purchasing an additional 333 shares during the period.
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.
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