Signet Jewelers (NYSE:SIG) Sets New 52-Week High - Here's What Happened

Key Points

• Signet Jewelers reached a new 52-week high, trading as high as $111.10 and rising 4.9% from its previous close, amid strong recent stock performance.
• Analysts have broadly turned more bullish, with several firms raising price targets; the stock has a consensus “Moderate Buy” rating and an average target of $125.56.
• Signet exceeded quarterly earnings expectations, reporting $2.19 in EPS versus $1.69 expected, while maintaining a quarterly dividend of $0.35 per share, or $1.40 annualized.

Signet Jewelers Limited (NYSE:SIG - Get Free Report) reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $111.10 and last traded at $111.3060, with a volume of 41,752 shares trading hands. The stock had previously closed at $107.96.

Analysts Set New Price Targets

SIG has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of Signet Jewelers from $102.00 to $115.00 and gave the stock a "neutral" rating in a research note on Thursday, September 10th. UBS Group upped their target price on Signet Jewelers from $122.00 to $136.00 and gave the stock a "buy" rating in a report on Thursday, September 10th. Weiss Ratings raised Signet Jewelers from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, September 24th. Raymond James Financial increased their target price on Signet Jewelers from $100.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, September 10th. Finally, Jefferies Financial Group lifted their price target on Signet Jewelers from $150.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Signet Jewelers presently has a consensus rating of "Moderate Buy" and a consensus price target of $125.56.

Signet Jewelers Stock Up 4.9%

The firm has a market capitalization of $4.34 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.59 and a beta of 1.10. The company's 50-day simple moving average is $94.68 and its 200 day simple moving average is $89.86.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.50. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. Signet Jewelers had a net margin of 5.19% and a return on equity of 23.28%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. On average, sell-side analysts forecast that Signet Jewelers Limited will post 11.70 earnings per share for the current fiscal year.

Signet Jewelers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, October 23rd will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, October 23rd. Signet Jewelers's payout ratio is currently 16.13%.

Institutional Trading of Signet Jewelers

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Signet Jewelers by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,451,725 shares of the company's stock valued at $207,504,000 after buying an additional 58,771 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Signet Jewelers by 16.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,015,230 shares of the company's stock worth $85,929,000 after acquiring an additional 145,654 shares in the last quarter. 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 worth $35,947,000 after acquiring an additional 204,596 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Signet Jewelers by 7.9% during the first quarter. Pacer Advisors Inc. now owns 283,706 shares of the company's stock worth $24,013,000 after acquiring an additional 20,780 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Signet Jewelers by 35.9% during the first quarter. Principal Financial Group Inc. now owns 265,235 shares of the company's stock worth $22,449,000 after acquiring an additional 70,110 shares during the last quarter.

Signet Jewelers Company Profile

Signet Jewelers Limited NYSE: SIG is a specialty jewelry retailer that operates through a portfolio of branded stores and online platforms. Its businesses sell diamond, bridal and fashion jewelry, watches, gifts and related accessories, while also providing services such as jewelry repair, customization and financing.

The company's principal retail brands include Kay Jewelers, Zales, Jared, Diamonds Direct, James Allen, Peoples and Banter by Piercing Pagoda. These brands serve customers through a combination of mall-based and off-mall stores, standalone locations, digital commerce platforms and specialty formats, with offerings positioned across a range of price points and shopping occasions.

Signet primarily serves customers in the United States, Canada and the United Kingdom.

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