Signet Jewelers (NYSE:SIG) Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Signet Jewelers (NYSE:SIG - Free Report) from a hold rating to a buy rating in a report released on Saturday morning.

Other equities research analysts have also recently issued research reports about the stock. Citigroup raised their price objective on shares of Signet Jewelers from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. CL King started coverage on shares of Signet Jewelers in a report on Monday, May 5th. They issued a "buy" rating and a $80.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Signet Jewelers from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. Telsey Advisory Group increased their target price on shares of Signet Jewelers from $62.00 to $80.00 and gave the stock a "market perform" rating in a research note on Tuesday, June 3rd. Finally, Bank of America lifted their price target on Signet Jewelers from $65.00 to $78.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $87.14.

Signet Jewelers Stock Down 2.3%

Shares of NYSE:SIG traded down $1.91 during midday trading on Friday, reaching $79.78. The company's stock had a trading volume of 1,512,998 shares, compared to its average volume of 1,216,158. The stock has a fifty day moving average of $72.60 and a 200 day moving average of $63.90. Signet Jewelers has a twelve month low of $45.55 and a twelve month high of $106.28. The firm has a market capitalization of $3.28 billion, a PE ratio of 86.72, a P/E/G ratio of 0.74 and a beta of 1.39.

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

Signet Jewelers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, July 25th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, July 25th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.60%. Signet Jewelers's dividend payout ratio is currently 139.13%.

Insider Buying and Selling at Signet Jewelers

In related news, Director Helen Mccluskey purchased 1,700 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average cost of $58.86 per share, with a total value of $100,062.00. Following the purchase, the director owned 31,916 shares of the company's stock, valued at $1,878,575.76. This represents a 5.63% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Signet Jewelers

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio purchased a new stake in shares of Signet Jewelers during the first quarter worth approximately $598,000. Bayforest Capital Ltd purchased a new stake in shares of Signet Jewelers during the first quarter worth $1,095,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Signet Jewelers by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,573 shares of the company's stock valued at $7,117,000 after buying an additional 10,964 shares during the last quarter. Optimize Financial Inc raised its position in shares of Signet Jewelers by 118.7% in the first quarter. Optimize Financial Inc now owns 14,416 shares of the company's stock valued at $837,000 after buying an additional 7,825 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Signet Jewelers by 33.5% in the first quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company's stock worth $49,333,000 after buying an additional 213,365 shares in the last quarter.

Signet Jewelers Company Profile

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.