Signet Jewelers Limited (SIG) Receives Outperform Rating from RBC Capital Markets
Signet Jewelers Limited (NYSE:SIG)‘s stock had its “outperform” rating reissued by equities researchers at RBC Capital Markets in a research note issued on Thursday. They currently have a $92.00 price target on the stock, down from their previous price target of $100.00. RBC Capital Markets’ price target would indicate a potential upside of 13.89% from the company’s current price.
SIG has been the subject of a number of other research reports. Zacks Investment Research upgraded Signet Jewelers Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, November 15th. Nomura set a $100.00 target price on Signet Jewelers Limited and gave the stock a “buy” rating in a research report on Wednesday, November 23rd. Vetr downgraded Signet Jewelers Limited from a “strong-buy” rating to a “buy” rating and set a $86.25 price objective for the company. in a research report on Tuesday, October 4th. Wells Fargo & Company reiterated an “outperform” rating and issued a $102.50 price objective on shares of Signet Jewelers Limited in a research report on Monday, November 21st. Finally, assumed coverage on Signet Jewelers Limited in a research report on Wednesday, September 28th. They issued an “outperform” rating and a $87.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $105.75.
Shares of Signet Jewelers Limited (NYSE:SIG) traded down 4.24% during mid-day trading on Thursday, hitting $80.78. 3,152,030 shares of the stock traded hands. The firm’s 50-day moving average is $92.49 and its 200-day moving average is $86.14. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 12.09 and a beta of 1.22. Signet Jewelers Limited has a 52 week low of $72.65 and a 52 week high of $125.45.
Signet Jewelers Limited (NYSE:SIG) last released its earnings results on Tuesday, November 22nd. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.10. The company earned $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. Signet Jewelers Limited had a return on equity of 19.67% and a net margin of 7.93%. Signet Jewelers Limited’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. On average, analysts forecast that Signet Jewelers Limited will post $7.42 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 28th. Stockholders of record on Friday, January 27th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, January 25th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.29%. Signet Jewelers Limited’s dividend payout ratio is currently 15.88%.
Several large investors have recently added to or reduced their stakes in SIG. Price T Rowe Associates Inc. MD boosted its stake in Signet Jewelers Limited by 427.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,128,618 shares of the company’s stock worth $307,706,000 after buying an additional 3,345,862 shares in the last quarter. Nicholas Co. Inc. WI boosted its stake in Signet Jewelers Limited by 885.3% in the second quarter. Nicholas Co. Inc. WI now owns 1,082,895 shares of the company’s stock worth $89,241,000 after buying an additional 972,995 shares in the last quarter. Farallon Capital Management LLC boosted its stake in Signet Jewelers Limited by 47.0% in the second quarter. Farallon Capital Management LLC now owns 2,812,471 shares of the company’s stock worth $231,776,000 after buying an additional 899,618 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Signet Jewelers Limited by 154.4% in the second quarter. Point72 Asset Management L.P. now owns 1,063,000 shares of the company’s stock worth $87,602,000 after buying an additional 645,100 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Signet Jewelers Limited by 6,001.0% in the second quarter. Canada Pension Plan Investment Board now owns 640,600 shares of the company’s stock worth $52,792,000 after buying an additional 630,100 shares in the last quarter. 99.37% of the stock is currently owned by hedge funds and other institutional investors.
Signet Jewelers Limited 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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