Cowen set a $40.00 target price on Signet Jewelers (NYSE:SIG) in a research note issued to investors on Thursday, March 15th. The brokerage currently has a hold rating on the stock.
Several other research analysts have also recently commented on SIG. Buckingham Research reiterated a neutral rating and issued a $36.00 target price (down from $57.00) on shares of Signet Jewelers in a report on Thursday, March 15th. Needham & Company LLC cut shares of Signet Jewelers from a buy rating to a hold rating and set a $74.00 target price for the company. in a report on Thursday, March 15th. Telsey Advisory Group reiterated a market perform rating and issued a $44.00 target price (down from $55.00) on shares of Signet Jewelers in a report on Thursday, March 15th. Royal Bank of Canada set a $38.00 target price on shares of Signet Jewelers and gave the stock a hold rating in a report on Thursday, March 15th. Finally, Zacks Investment Research upgraded shares of Signet Jewelers from a strong sell rating to a hold rating in a report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. Signet Jewelers has an average rating of Hold and an average target price of $52.65.
Shares of SIG traded down $0.06 during mid-day trading on Thursday, hitting $37.43. The company’s stock had a trading volume of 2,060,876 shares, compared to its average volume of 4,804,560. The stock has a market capitalization of $2,265.11, a P/E ratio of 5.75, a P/E/G ratio of 1.18 and a beta of 0.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.32 and a quick ratio of 1.12. Signet Jewelers has a fifty-two week low of $33.11 and a fifty-two week high of $77.94.
Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Wednesday, March 14th. The company reported $4.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.26 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Signet Jewelers had a net margin of 8.30% and a return on equity of 20.34%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.03 EPS. equities research analysts forecast that Signet Jewelers will post 3.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 4th will be issued a dividend of $0.37 per share. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.31. This represents a $1.48 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, May 3rd. Signet Jewelers’s dividend payout ratio (DPR) is currently 19.05%.
In other Signet Jewelers news, insider Oded Edelman bought 90,398 shares of Signet Jewelers stock in a transaction on Friday, January 12th. The stock was purchased at an average cost of $55.31 per share, for a total transaction of $4,999,913.38. Following the completion of the purchase, the insider now directly owns 33,962 shares of the company’s stock, valued at $1,878,438.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.52% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. USA Financial Portformulas Corp acquired a new stake in Signet Jewelers in the fourth quarter valued at approximately $343,000. LMR Partners LLP acquired a new stake in Signet Jewelers in the fourth quarter valued at approximately $4,012,000. Dimensional Fund Advisors LP lifted its stake in Signet Jewelers by 30.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,446,968 shares of the company’s stock valued at $96,298,000 after acquiring an additional 340,761 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in Signet Jewelers by 3.2% in the fourth quarter. OppenheimerFunds Inc. now owns 322,511 shares of the company’s stock valued at $18,238,000 after acquiring an additional 9,887 shares during the last quarter. Finally, ETRADE Capital Management LLC acquired a new stake in Signet Jewelers in the third quarter valued at approximately $826,000.
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About Signet Jewelers
Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands.
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