Signet Jewelers (NYSE:SIG) Stock Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Signet Jewelers shares rose above their 200-day moving average, trading as high as $90.66 and last changing hands near $89.97, which could be viewed as a bullish technical signal.
• Recent analyst action is mixed but generally constructive: UBS, Stephens, and Citigroup maintain positive views, and the stock currently carries an average Moderate Buy rating with a consensus price target of $112.88.
• The company reported better-than-expected quarterly earnings of $1.56 per share versus $1.38 expected, and it also announced a quarterly dividend of $0.35 per share, implying a 1.6% annual yield.

Signet Jewelers Limited (NYSE:SIG - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $88.26 and traded as high as $90.66. Signet Jewelers shares last traded at $89.9690, with a volume of 933,741 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on SIG. UBS Group reduced their price target on shares of Signet Jewelers from $126.00 to $121.00 and set a "buy" rating on the stock in a research report on Friday, May 22nd. Stephens reaffirmed an "overweight" rating and issued a $130.00 target price on shares of Signet Jewelers in a research note on Friday, May 29th. Wells Fargo & Company reiterated a "mixed" rating on shares of Signet Jewelers in a research report on Wednesday, June 3rd. Citigroup increased their price target on shares of Signet Jewelers from $110.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, June 3rd. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $96.00 price target on shares of Signet Jewelers in a report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $112.88.

Signet Jewelers Trading Up 3.4%

The stock has a market capitalization of $3.54 billion, a P/E ratio of 12.62, a PEG ratio of 0.91 and a beta of 1.15. The company has a fifty day simple moving average of $84.36 and a two-hundred day simple moving average of $88.26.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.18. Signet Jewelers had a net margin of 4.29% and a return on equity of 22.54%. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the firm earned $1.18 EPS. The company's revenue for the quarter was up .8% on a year-over-year basis. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. As a group, analysts forecast that Signet Jewelers Limited will post 10.57 earnings per share for the current fiscal year.

Signet Jewelers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, July 24th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, July 24th. Signet Jewelers's payout ratio is currently 13.46%.

Institutional Trading of Signet Jewelers

Several institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Asset Management Inc boosted its position in shares of Signet Jewelers by 3.1% in the 4th quarter. CIBC Asset Management Inc now owns 4,072 shares of the company's stock worth $337,000 after purchasing an additional 121 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Signet Jewelers by 48.6% in the fourth quarter. Farther Finance Advisors LLC now owns 379 shares of the company's stock valued at $31,000 after buying an additional 124 shares during the period. State of Alaska Department of Revenue grew its position in shares of Signet Jewelers by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 20,844 shares of the company's stock worth $1,727,000 after buying an additional 138 shares during the period. Amundi grew its position in shares of Signet Jewelers by 1.9% during the 3rd quarter. Amundi now owns 7,358 shares of the company's stock worth $689,000 after buying an additional 140 shares during the period. Finally, Xponance LLC increased its stake in shares of Signet Jewelers by 4.6% in the 4th quarter. Xponance LLC now owns 3,450 shares of the company's stock valued at $286,000 after acquiring an additional 152 shares during the last quarter.

Signet Jewelers Company Profile

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.

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