Wells Fargo & Company Lowers Signet Jewelers (NYSE:SIG) Price Target to $90.00

Key Points

• Wells Fargo cut its price target on Signet Jewelers to $90 from $100 while keeping an “equal weight” rating, implying only modest upside from the prior close.
• Analyst sentiment remains mixed: the stock has a consensus “Moderate Buy” rating and average price target of $111.63, but several firms recently trimmed targets or downgraded views.
• Signet’s latest quarter beat expectations, with EPS of $1.56 versus $1.38 expected, and the company also raised FY2027 guidance and announced a $50 million accelerated share repurchase program.

Signet Jewelers (NYSE:SIG - Get Free Report) had its price objective lowered by analysts at Wells Fargo & Company from $100.00 to $90.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 3.02% from the company's previous close.

A number of other brokerages have also recently commented on SIG. UBS Group dropped their price target on Signet Jewelers from $126.00 to $121.00 and set a "buy" rating for the company in a research note on Friday, May 22nd. Jefferies Financial Group reaffirmed a "buy" rating on shares of Signet Jewelers in a report on Monday, March 9th. Telsey Advisory Group reiterated a "market perform" rating and issued a $96.00 target price on shares of Signet Jewelers in a research report on Thursday, March 19th. Stephens reissued an "overweight" rating and set a $130.00 price target on shares of Signet Jewelers in a research note on Friday, May 29th. Finally, Wall Street Zen cut Signet Jewelers from a "strong-buy" rating to a "hold" rating in a report on Sunday, March 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $111.63.

Signet Jewelers Trading Down 0.7%

Shares of Signet Jewelers stock opened at $87.36 on Wednesday. The firm's 50 day moving average is $86.42 and its 200 day moving average is $89.55. The firm has a market capitalization of $3.50 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. Signet Jewelers has a 1 year low of $71.61 and a 1 year high of $110.20.

Signet Jewelers (NYSE:SIG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.38 by $0.18. Signet Jewelers had a net margin of 4.32% and a return on equity of 22.22%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. The firm's revenue was up .8% compared to the same quarter last year. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. As a group, research analysts anticipate that Signet Jewelers will post 10.3 earnings per share for the current year.

Institutional Investors Weigh In On Signet Jewelers

A number of institutional investors have recently modified their holdings of SIG. Royal Bank of Canada raised its stake in Signet Jewelers by 87.2% during the first quarter. Royal Bank of Canada now owns 17,564 shares of the company's stock worth $1,020,000 after buying an additional 8,183 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Signet Jewelers by 33.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company's stock worth $49,333,000 after acquiring an additional 213,365 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Signet Jewelers by 9.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,573 shares of the company's stock worth $7,117,000 after acquiring an additional 10,964 shares during the period. Prudential Financial Inc. raised its position in shares of Signet Jewelers by 55.4% in the 2nd quarter. Prudential Financial Inc. now owns 5,935 shares of the company's stock worth $472,000 after acquiring an additional 2,116 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Signet Jewelers by 171.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 678 shares of the company's stock valued at $54,000 after purchasing an additional 428 shares during the period.

Key Signet Jewelers News

Here are the key news stories impacting Signet Jewelers this week:

• Positive Sentiment: Signet beat consensus estimates with Q1 EPS of $1.56 versus expectations around $1.38, while revenue of $1.55 billion matched forecasts and sales improved modestly year over year. Signet Jewelers Reports First Quarter Fiscal 2027 Results
• Positive Sentiment: The company raised its full-year FY2027 guidance, signaling management sees improving operating momentum and stronger profitability ahead. Signet Jewelers Reports Higher Sales, Raises Guidance
• Positive Sentiment: Signet also announced a $50 million accelerated share repurchase program, adding another capital-return boost that investors typically view favorably. After Guidance Hike, Is Signet Jewelers a Buy?
• Positive Sentiment: The company said comparable sales were positive across categories, with encouraging holiday-related performance and signs that demand remains resilient despite a mixed consumer backdrop. Signet Jewelers gains as Q1 results top estimates, profit outlook improves
• Neutral Sentiment: Signet declared a quarterly dividend of $0.35 per share, which reinforces shareholder returns but is unlikely to be the main driver of the stock’s move today. Why Signet Jewelers Stock Topped the Market Today

About Signet Jewelers

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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