Signet Jewelers Limited (NYSE:SIG) Receives $88.86 Average Price Target from Analysts

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 earned an average recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $88.8571.

Several research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Signet Jewelers in a report on Monday, June 16th. They issued a "buy" rating and a $102.00 price target for the company. UBS Group increased their target price on shares of Signet Jewelers from $84.00 to $95.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. CL King started coverage on shares of Signet Jewelers in a report on Monday, May 5th. They set a "buy" rating and a $80.00 target price for the company. Wall Street Zen upgraded shares of Signet Jewelers from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Citigroup increased their target price on shares of Signet Jewelers from $85.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th.

Signet Jewelers Stock Performance

NYSE:SIG traded down $1.00 during trading hours on Friday, hitting $74.98. The stock had a trading volume of 329,617 shares, compared to its average volume of 1,386,931. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 81.50, a P/E/G ratio of 0.68 and a beta of 1.40. Signet Jewelers has a one year low of $45.55 and a one year high of $106.28. The business's 50 day moving average is $79.37 and its 200-day moving average is $64.78.

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

Signet Jewelers Announces Dividend

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

Institutional Trading of Signet Jewelers

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIG. Cooper Creek Partners Management LLC raised its position in Signet Jewelers by 1,046.3% during the fourth quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company's stock worth $152,495,000 after acquiring an additional 1,724,592 shares in the last quarter. Anomaly Capital Management LP raised its position in Signet Jewelers by 862.5% during the fourth quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company's stock worth $142,253,000 after acquiring an additional 1,579,410 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Signet Jewelers by 175.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,859,503 shares of the company's stock worth $107,963,000 after acquiring an additional 1,183,214 shares in the last quarter. Norges Bank bought a new stake in Signet Jewelers during the fourth quarter worth $40,989,000. Finally, Vanguard Group Inc. raised its position in shares of Signet Jewelers by 8.1% in the first quarter. Vanguard Group Inc. now owns 5,205,964 shares of the company's stock valued at $302,258,000 after purchasing an additional 389,852 shares during the period.

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.