Signet Jewelers Limited (NYSE:SIG) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Signet Jewelers Limited has received a consensus rating of "Moderate Buy" from seven ratings firms, with an average price target of $88.86 for the next year.
• The company reported quarterly earnings of $1.18 per share, exceeding analysts' expectations of $1.01, and a year-over-year revenue increase of 2.0%.
• Signet Jewelers has announced a quarterly dividend of $0.32, reflecting a 1.7% dividend yield and a payout ratio of 139.13%.

Signet Jewelers Limited (NYSE:SIG - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven brokerages that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $88.86.

Several brokerages recently issued reports on SIG. Wall Street Zen upgraded Signet Jewelers from a "hold" rating to a "buy" rating in a research note on Saturday. UBS Group boosted their price target on Signet Jewelers from $84.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Jefferies Financial Group began coverage on Signet Jewelers in a report on Monday, June 16th. They set a "buy" rating and a $102.00 price objective on the stock. CL King began coverage on Signet Jewelers in a report on Monday, May 5th. They set a "buy" rating and a $80.00 price objective on the stock. Finally, Bank of America lifted their price objective on Signet Jewelers from $65.00 to $78.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SIG. Raymond James Financial Inc. acquired a new position in shares of Signet Jewelers in the 4th quarter worth approximately $306,000. Norges Bank acquired a new position in shares of Signet Jewelers in the 4th quarter worth approximately $40,989,000. Pictet Asset Management Holding SA raised its position in Signet Jewelers by 33.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 7,715 shares of the company's stock worth $623,000 after purchasing an additional 1,955 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in Signet Jewelers by 32.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,656 shares of the company's stock worth $123,000 after purchasing an additional 410 shares during the last quarter. Finally, ExodusPoint Capital Management LP raised its position in Signet Jewelers by 463.6% in the 4th quarter. ExodusPoint Capital Management LP now owns 78,478 shares of the company's stock worth $6,334,000 after purchasing an additional 64,554 shares during the last quarter.

Signet Jewelers Trading Down 5.0%

SIG traded down $3.97 on Friday, hitting $75.13. 1,093,540 shares of the stock traded hands, compared to its average volume of 973,940. Signet Jewelers has a 52 week low of $45.55 and a 52 week high of $106.28. The firm has a market capitalization of $3.09 billion, a PE ratio of 81.66, a P/E/G ratio of 0.68 and a beta of 1.40. The business has a fifty day moving average price of $78.92 and a two-hundred day moving average price of $64.58.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.17. Signet Jewelers had a return on equity of 22.41% and a net margin of 0.63%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company posted $1.11 earnings per share. The company's quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Signet Jewelers will post 8.73 EPS for the current fiscal year.

Signet Jewelers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, July 25th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, July 25th. Signet Jewelers's payout ratio is presently 139.13%.

About Signet Jewelers

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.