Signet Jewelers (NYSE:SIG) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Signet Jewelers shares rose above their 200-day moving average, reaching $106.98 and last trading near $105.51, compared with the 200-day average of $89.35.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $125.56; several firms recently raised their targets, including Citigroup to $140 and UBS to $136.
• The company exceeded quarterly earnings expectations, reporting $2.19 in EPS versus a $1.69 estimate, while maintaining a quarterly dividend of $0.35 per share, equivalent to a 1.3% yield.

Shares of Signet Jewelers Limited (NYSE:SIG - Get Free Report) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $89.35 and traded as high as $106.98. Signet Jewelers shares last traded at $105.5090, with a volume of 626,771 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SIG. Citigroup boosted their price objective on shares of Signet Jewelers from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, September 10th. Wells Fargo & Company boosted their price target on Signet Jewelers from $90.00 to $100.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 9th. UBS Group increased their price target on Signet Jewelers from $122.00 to $136.00 and gave the stock a "buy" rating in a report on Thursday, September 10th. Zacks Research raised shares of Signet Jewelers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 22nd. Finally, Bank of America lifted their price objective on shares of Signet Jewelers from $102.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, September 10th. 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $125.56.

Signet Jewelers Price Performance

The firm has a fifty day simple moving average of $93.76 and a two-hundred day simple moving average of $89.35. The firm has a market capitalization of $4.04 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 0.57 and a beta of 1.10.

Signet Jewelers (NYSE:SIG - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.50. Signet Jewelers had a return on equity of 23.28% and a net margin of 5.19%.The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the previous year, the business earned $1.61 earnings per share. The firm's quarterly revenue was down .5% compared to the same quarter last year. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. On average, research analysts anticipate that Signet Jewelers Limited will post 11.7 EPS for the current year.

Signet Jewelers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 23rd will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, October 23rd. Signet Jewelers's payout ratio is presently 16.13%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. grew its stake in Signet Jewelers by 18.5% in the 1st quarter. Bessemer Group Inc. now owns 76,274 shares of the company's stock worth $6,456,000 after buying an additional 11,926 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Signet Jewelers by 35.9% during the 1st quarter. Principal Financial Group Inc. now owns 265,235 shares of the company's stock valued at $22,449,000 after buying an additional 70,110 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Signet Jewelers by 29.6% during the 1st quarter. California State Teachers Retirement System now owns 45,309 shares of the company's stock worth $3,835,000 after acquiring an additional 10,354 shares during the last quarter. Empowered Funds LLC grew its position in Signet Jewelers by 11.9% in the first quarter. Empowered Funds LLC now owns 156,800 shares of the company's stock worth $13,272,000 after acquiring an additional 16,665 shares in the last quarter. Finally, Engineers Gate Manager LP increased its stake in Signet Jewelers by 125.6% in the second quarter. Engineers Gate Manager LP now owns 28,610 shares of the company's stock valued at $2,466,000 after acquiring an additional 15,926 shares during the last quarter.

About Signet Jewelers

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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