Brokerages Set Signet Jewelers Limited (NYSE:SIG) Target Price at $112.00

Shares of Signet Jewelers Limited (NYSE:SIG) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $112.00.

A number of equities research analysts have recently issued reports on SIG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Signet Jewelers in a report on Monday, July 6th. Zacks Research raised shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Stephens restated an “overweight” rating and set a $130.00 price target on shares of Signet Jewelers in a research report on Friday, May 29th. Raymond James Financial began coverage on shares of Signet Jewelers in a research note on Thursday, July 23rd. They set an “outperform” rating and a $105.00 price objective for the company. Finally, UBS Group dropped their price objective on shares of Signet Jewelers from $126.00 to $121.00 and set a “buy” rating for the company in a research note on Friday, May 22nd.

Signet Jewelers Price Performance

Shares of NYSE:SIG opened at $84.85 on Wednesday. The business’s 50 day moving average price is $89.27 and its 200-day moving average price is $88.86. The firm has a market capitalization of $3.34 billion, a PE ratio of 11.90, a P/E/G ratio of 0.94 and a beta of 1.16. Signet Jewelers has a 1 year low of $71.61 and a 1 year high of $110.20.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.38 by $0.18. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Signet Jewelers had a return on equity of 22.54% and a net margin of 4.29%.The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $1.18 earnings per share. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. As a group, analysts expect that Signet Jewelers will post 10.65 earnings per share for the current year.

Signet Jewelers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, July 24th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, July 24th. Signet Jewelers’s payout ratio is currently 19.64%.

Institutional Investors Weigh In On Signet Jewelers

Several hedge funds and other institutional investors have recently made changes to their positions in SIG. Farther Finance Advisors LLC boosted its stake in Signet Jewelers by 48.6% during the fourth quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock worth $31,000 after buying an additional 124 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Signet Jewelers by 101.0% in the 1st quarter. Parallel Advisors LLC now owns 394 shares of the company’s stock worth $33,000 after acquiring an additional 198 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Signet Jewelers in the 4th quarter worth $39,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Signet Jewelers by 111.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 633 shares of the company’s stock worth $52,000 after acquiring an additional 333 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Signet Jewelers by 171.2% during the 2nd 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.

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.