Signet Jewelers Ltd. (NYSE:SIG) Receives Average Rating of “Hold” from Brokerages

Signet Jewelers Ltd. (NYSE:SIG) has received an average recommendation of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $28.63.

A number of research analysts have recently issued reports on SIG shares. Bank of America reduced their price objective on shares of Signet Jewelers from $30.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Nomura reduced their price objective on shares of Signet Jewelers from $28.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, June 7th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $22.00 price objective (down from $28.00) on shares of Signet Jewelers in a report on Monday, June 3rd.

SIG traded down $1.42 during midday trading on Wednesday, hitting $15.85. The company had a trading volume of 26,924 shares, compared to its average volume of 1,555,561. Signet Jewelers has a 52 week low of $16.25 and a 52 week high of $71.07. The company has a quick ratio of 0.31, a current ratio of 2.07 and a debt-to-equity ratio of 1.92. The stock has a market cap of $901.34 million, a P/E ratio of 4.64, a price-to-earnings-growth ratio of 0.87 and a beta of 0.93. The stock’s 50 day simple moving average is $17.78.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Thursday, June 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.32. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Signet Jewelers had a negative net margin of 2.76% and a positive return on equity of 16.90%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the company earned $0.10 earnings per share. Sell-side analysts forecast that Signet Jewelers will post 3.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 2nd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 9.34%. The ex-dividend date is Thursday, August 1st. Signet Jewelers’s payout ratio is 39.78%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CenterStar Asset Management LLC boosted its stake in Signet Jewelers by 136.0% in the second quarter. CenterStar Asset Management LLC now owns 1,660 shares of the company’s stock valued at $29,000 after acquiring an additional 6,270 shares during the last quarter. Swiss National Bank boosted its stake in Signet Jewelers by 2.1% in the second quarter. Swiss National Bank now owns 96,600 shares of the company’s stock valued at $1,727,000 after acquiring an additional 2,000 shares during the last quarter. Stevens Capital Management LP purchased a new position in Signet Jewelers in the second quarter valued at about $1,284,000. Aperio Group LLC boosted its stake in Signet Jewelers by 36.6% in the second quarter. Aperio Group LLC now owns 33,336 shares of the company’s stock valued at $596,000 after acquiring an additional 8,929 shares during the last quarter. Finally, Dupont Capital Management Corp boosted its stake in Signet Jewelers by 40.7% in the second quarter. Dupont Capital Management Corp now owns 29,489 shares of the company’s stock valued at $527,000 after acquiring an additional 8,528 shares during the last quarter. Hedge funds and other institutional investors own 99.54% of the company’s stock.

About Signet Jewelers

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. As of February 02, 2019, it operated 3,334 stores and kiosks. The company operates through three segments: North America, International, and Other. The North America segment operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, Peoples Jewellers, Gordon's Jewelers, and Mappins Jewellers regional banners; and JamesAllen.com, an online jewelry retailer Website.

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Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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