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

Key Points

• Signet Jewelers has been upgraded to a "buy" rating by Wall Street Zen, reflecting increasing optimism among analysts about its future performance.
• Several firms, including Jefferies and Citigroup, have raised their price targets for Signet, with Citigroup increasing it to $110.00.
• Signet reported $1.61 EPS for its last quarter, exceeding expectations and indicating a 3% revenue growth compared to the same period last year.

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

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company reaffirmed a "cautious" rating on shares of Signet Jewelers in a report on Tuesday, September 2nd. Jefferies Financial Group assumed coverage on 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 upped their price target on Signet Jewelers from $95.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Citigroup upped their price target on Signet Jewelers from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Finally, Bank of America upped their price target on Signet Jewelers from $90.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $97.71.

Signet Jewelers Stock Down 1.9%

Shares of SIG traded down $1.78 during mid-day trading on Friday, reaching $90.87. The company had a trading volume of 558,361 shares, compared to its average volume of 1,347,201. Signet Jewelers has a 52-week low of $45.55 and a 52-week high of $106.28. The stock has a market capitalization of $3.74 billion, a P/E ratio of 30.49, a PEG ratio of 1.07 and a beta of 1.18. The stock has a 50 day moving average of $82.89 and a two-hundred day moving average of $69.56.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its earnings results on Tuesday, September 2nd. The company reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.40. Signet Jewelers had a return on equity of 23.42% and a net margin of 1.95%.The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company's revenue was up 3.0% compared to the same quarter last year. Signet Jewelers has set its FY 2026 guidance at 8.040-9.570 EPS. Q3 2026 guidance at EPS. On average, sell-side analysts expect that Signet Jewelers will post 8.73 earnings per share for the current year.

Signet Jewelers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, October 24th will be given a $0.32 dividend. The ex-dividend date is Friday, October 24th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.4%. Signet Jewelers's dividend payout ratio is 42.95%.

Institutional Investors Weigh In On Signet Jewelers

Large investors have recently made changes to their positions in the stock. Ameritas Advisory Services LLC purchased a new stake in shares of Signet Jewelers in the second quarter valued at approximately $29,000. Brooklyn Investment Group grew its position in Signet Jewelers by 42,700.0% in the first quarter. Brooklyn Investment Group now owns 428 shares of the company's stock worth $25,000 after acquiring an additional 427 shares during the period. Allworth Financial LP grew its position in Signet Jewelers by 946.8% in the first quarter. Allworth Financial LP now owns 492 shares of the company's stock worth $29,000 after acquiring an additional 445 shares during the period. Headlands Technologies LLC purchased a new position in Signet Jewelers in the first quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC grew its position in Signet Jewelers by 171.2% in the second quarter. EverSource Wealth Advisors LLC now owns 678 shares of the company's stock worth $54,000 after acquiring an additional 428 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.