Credit Agricole SA Begins Coverage on Signet Jewelers Ltd. (SIG)
Credit Agricole SA initiated coverage on shares of Signet Jewelers Ltd. (NYSE:SIG) in a research note published on Wednesday morning. The firm issued an outperform rating and a $87.00 price objective on the stock.
Several other research firms have also recently weighed in on SIG. Zacks Investment Research cut shares of Signet Jewelers from a hold rating to a sell rating in a report on Wednesday, August 10th. Deutsche Bank AG decreased their target price on shares of Signet Jewelers from $150.00 to $140.00 and set a buy rating on the stock in a research report on Tuesday, August 23rd. BNP Paribas lowered shares of Signet Jewelers from an outperform rating to a neutral rating in a research report on Thursday, September 8th. Cowen and Company lowered shares of Signet Jewelers from an outperform rating to a market perform rating and decreased their target price for the stock from $96.00 to $85.00 in a research report on Tuesday, September 13th. Finally, JPMorgan Chase & Co. lowered shares of Signet Jewelers from an overweight rating to a neutral rating and decreased their target price for the stock from $136.00 to $90.00 in a research report on Tuesday, August 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Signet Jewelers has an average rating of Buy and a consensus target price of $107.56.
Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Thursday, August 25th. The company reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by $0.31. The company earned $1.40 billion during the quarter, compared to the consensus estimate of $1.44 billion. Signet Jewelers had a net margin of 7.86% and a return on equity of 18.70%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Friday, October 28th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Wednesday, October 26th. Signet Jewelers’s payout ratio is currently 15.90%.
In other news, Director Helen Mccluskey bought 1,000 shares of the stock in a transaction that occurred on Tuesday, July 19th. The stock was acquired at an average price of $89.91 per share, with a total value of $89,910.00. Following the completion of the purchase, the director now directly owns 6,197 shares of the company’s stock, valued at $557,172.27. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas G. Plaskett bought 300 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were purchased at an average cost of $88.88 per share, with a total value of $26,664.00. Following the purchase, the director now directly owns 16,407 shares of the company’s stock, valued at $1,458,254.16. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SIG. IFP Advisors Inc increased its position in shares of Signet Jewelers by 2.0% in the first quarter. IFP Advisors Inc now owns 881 shares of the company’s stock worth $109,000 after buying an additional 17 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Signet Jewelers by 6.8% in the second quarter. Pacer Advisors Inc. now owns 1,561 shares of the company’s stock worth $129,000 after buying an additional 100 shares in the last quarter. MU Investments Co. Ltd. purchased a new position in shares of Signet Jewelers during the second quarter worth $148,000. FNY Managed Accounts LLC purchased a new position in shares of Signet Jewelers during the second quarter worth $181,000. Finally, Advisors Asset Management Inc. increased its position in shares of Signet Jewelers by 2.0% in the second quarter. Advisors Asset Management Inc. now owns 2,389 shares of the company’s stock worth $197,000 after buying an additional 46 shares in the last quarter. 95.28% of the stock is owned by institutional investors and hedge funds.
Signet Jewelers Company Profile
Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s segments are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment.
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