Signet Jewelers (NYSE:SIG) Price Target Raised to $89.00

Signet Jewelers (NYSE:SIG) had its price objective hoisted by UBS Group from $85.00 to $89.00 in a research report released on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

SIG has been the topic of a number of other research reports. Wells Fargo & Company reduced their target price on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Bank of America reduced their target price on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. StockNews.com cut Signet Jewelers from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $55.00 target price on shares of Signet Jewelers in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.60.

Signet Jewelers Price Performance

SIG stock opened at $58.46 on Thursday. Signet Jewelers has a 52-week low of $45.55 and a 52-week high of $112.06. The stock’s fifty day simple moving average is $54.52 and its 200-day simple moving average is $78.31. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 6.73, a price-to-earnings-growth ratio of 3.43 and a beta of 2.20.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.39 by $0.23. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter last year, the firm earned $6.73 earnings per share. The business’s revenue was down 5.8% on a year-over-year basis. Equities research analysts expect that Signet Jewelers will post 8.73 EPS for the current year.

Signet Jewelers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, April 25th will be given a $0.32 dividend. The ex-dividend date is Friday, April 25th. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 2.19%. Signet Jewelers’s dividend payout ratio (DPR) is -168.42%.

Insider Buying and Selling at Signet Jewelers

In other news, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $54.13, for a total transaction of $180,415.29. Following the sale, the director now directly owns 22,752 shares of the company’s stock, valued at approximately $1,231,565.76. The trade was a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Signet Jewelers

Hedge funds and other institutional investors have recently modified their holdings of the business. Grace & White Inc. NY increased its position in shares of Signet Jewelers by 6.1% during the fourth quarter. Grace & White Inc. NY now owns 207,262 shares of the company’s stock worth $16,728,000 after acquiring an additional 11,900 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Signet Jewelers by 22.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 61,568 shares of the company’s stock worth $4,969,000 after acquiring an additional 11,218 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Signet Jewelers by 30.5% during the fourth quarter. Van ECK Associates Corp now owns 36,655 shares of the company’s stock worth $2,958,000 after acquiring an additional 8,574 shares during the last quarter. US Bancorp DE increased its position in shares of Signet Jewelers by 99.6% during the fourth quarter. US Bancorp DE now owns 19,598 shares of the company’s stock worth $1,582,000 after acquiring an additional 9,778 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of Signet Jewelers by 5.0% during the fourth quarter. Royce & Associates LP now owns 202,280 shares of the company’s stock worth $16,326,000 after acquiring an additional 9,559 shares during 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.