Signet Jewelers Limited (NYSE:SIG) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Consensus "Moderate Buy" — 12 analysts average a Moderate Buy rating (six hold, five buy, one strong buy) with a 1‑year consensus price target of $112.00.
• Quarterly results — Signet reported EPS of $6.25, beating the $6.11 consensus while revenue was roughly flat year‑over‑year (down 0.3%); the stock trades at a P/E of about 12.7 with ROE near 22.2%.
• Dividend increase and institutional buying — The company raised its quarterly dividend to $0.35 (annualized $1.40, ~1.5% yield) and several large institutional investors upped their stakes in the stock.

Shares of Signet Jewelers Limited (NYSE:SIG - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve ratings firms that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $112.00.

SIG has been the topic of a number of research reports. The Goldman Sachs Group raised shares of Signet Jewelers from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 21st. Jefferies Financial Group reaffirmed a "buy" rating on shares of Signet Jewelers in a research report on Monday, March 9th. Wall Street Zen lowered shares of Signet Jewelers from a "strong-buy" rating to a "hold" rating in a research report on Sunday, March 22nd. Royal Bank Of Canada raised shares of Signet Jewelers to a "hold" rating in a research report on Monday, March 30th. Finally, Wells Fargo & Company boosted their target price on shares of Signet Jewelers from $90.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Friday, March 20th.

Signet Jewelers Stock Up 3.4%

NYSE:SIG opened at $90.68 on Thursday. Signet Jewelers has a 12 month low of $50.35 and a 12 month high of $110.20. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 0.98 and a beta of 1.25. The company's 50 day moving average is $90.78 and its 200-day moving average is $92.92.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The company reported $6.25 EPS for the quarter, beating analysts' consensus estimates of $6.11 by $0.14. Signet Jewelers had a net margin of 4.32% and a return on equity of 22.22%. The company had revenue of ($4,468.50) million for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the firm posted $6.62 earnings per share. The company's quarterly revenue was down .3% compared to the same quarter last year. Research analysts predict that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Signet Jewelers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, April 24th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. This is an increase from Signet Jewelers's previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, April 24th. Signet Jewelers's payout ratio is presently 17.95%.

Institutional Investors Weigh In On Signet Jewelers

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Signet Jewelers by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,392,954 shares of the company's stock valued at $198,328,000 after buying an additional 46,789 shares during the period. State Street Corp increased its holdings in Signet Jewelers by 1.6% in the 4th quarter. State Street Corp now owns 1,688,602 shares of the company's stock valued at $139,951,000 after buying an additional 27,379 shares during the period. American Century Companies Inc. increased its holdings in Signet Jewelers by 12.3% in the 3rd quarter. American Century Companies Inc. now owns 1,592,735 shares of the company's stock valued at $152,775,000 after buying an additional 174,873 shares during the period. LSV Asset Management increased its holdings in Signet Jewelers by 90.0% in the 4th quarter. LSV Asset Management now owns 1,077,851 shares of the company's stock valued at $89,332,000 after buying an additional 510,551 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Signet Jewelers by 9.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 944,668 shares of the company's stock valued at $90,613,000 after buying an additional 82,899 shares during the period.

About Signet Jewelers

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.