Signet Jewelers (NYSE:SIG) Sets New 12-Month High - What's Next?

Key Points

• Signet Jewelers reached a new 52-week high of $126.10, up 5.8% during the session from its prior close of $118.90.
• The company reported quarterly EPS of $2.19, beating the $1.69 analyst consensus; revenue was $1.53 billion, down 0.5% year over year. Analysts’ consensus rating is “Moderate Buy,” with a $125.56 price target.
• Signet declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 1.1% yield.

Shares of Signet Jewelers Limited (NYSE:SIG - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $126.10 and last traded at $125.1790, with a volume of 33,933 shares. The stock had previously closed at $118.90.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wells Fargo & Company boosted their price target on Signet Jewelers from $90.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 9th. Weiss Ratings upgraded shares of Signet Jewelers from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, September 24th. Raymond James Financial raised their target price on Signet Jewelers from $100.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, September 10th. Stephens reissued an "overweight" rating and set a $130.00 target price on shares of Signet Jewelers in a research note on Tuesday, September 8th. Finally, Bank of America lifted their target price on Signet Jewelers from $102.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Signet Jewelers has an average rating of "Moderate Buy" and a consensus price target of $125.56.

Signet Jewelers Trading Up 5.8%

The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 0.66 and a beta of 1.05. The company's fifty day moving average is $102.61 and its two-hundred day moving average is $92.41.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its quarterly earnings results on Wednesday, September 9th. The company reported $2.19 EPS for the quarter, topping the consensus estimate of $1.69 by $0.50. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. Signet Jewelers had a return on equity of 23.28% and a net margin of 5.19%. The company's quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $1.61 earnings per share. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. Analysts predict that Signet Jewelers Limited will post 11.70 EPS for the current year.

Signet Jewelers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 23rd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, October 23rd. Signet Jewelers's payout ratio is currently 16.13%.

Insiders Place Their Bets

In other Signet Jewelers news, insider Stash Ptak sold 1,595 shares of the business's stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $120.00, for a total transaction of $191,400.00. Following the sale, the insider directly owned 20,833 shares in the company, valued at $2,499,960. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Junto Capital Management LP boosted its holdings in Signet Jewelers by 96.3% in the second quarter. Junto Capital Management LP now owns 417,016 shares of the company's stock valued at $35,947,000 after purchasing an additional 204,596 shares during the period. Copeland Capital Management LLC acquired a new position in Signet Jewelers during the 3rd quarter worth $17,633,000. Arrowstreet Capital Limited Partnership increased its holdings in Signet Jewelers by 16.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,015,230 shares of the company's stock worth $85,929,000 after purchasing an additional 145,654 shares during the period. One Way Holdings LLC purchased a new stake in Signet Jewelers during the 3rd quarter worth about $12,107,000. Finally, Principal Financial Group Inc. increased its holdings in Signet Jewelers by 35.9% during the 1st quarter. Principal Financial Group Inc. now owns 265,235 shares of the company's stock worth $22,449,000 after purchasing an additional 70,110 shares during the period.

About Signet Jewelers

Signet Jewelers Limited NYSE: SIG is a specialty jewelry retailer that sells diamond jewelry, bridal products, fashion jewelry, watches and related accessories. The company also provides services such as jewelry repair, customization, piercing and financing through its retail and digital channels.

Signet operates through a portfolio of well-known brands, including Kay Jewelers, Zales, Jared, Diamonds Direct, Blue Nile, James Allen, Peoples, H.Samuel, Ernest Jones and Piercing Pagoda. Its brands serve customers across a range of price points and shopping occasions, from engagements and weddings to everyday fashion and gift purchases.

The company serves customers primarily in the United States, Canada and the United Kingdom through a combination of physical stores, online platforms and other digital shopping channels.

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