Analysts Set Signet Jewelers Limited (NYSE:SIG) Target Price at $112.88

Signet Jewelers Limited (NYSE:SIG) has been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $112.8750.

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Signet Jewelers in a research note on Monday, March 9th. Royal Bank Of Canada raised shares of Signet Jewelers to a “hold” rating in a research note on Monday, March 30th. Citigroup lifted their price target on shares of Signet Jewelers from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Wall Street Zen downgraded shares of Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, UBS Group dropped their target price on shares of Signet Jewelers from $126.00 to $121.00 and set a “buy” rating for the company in a research report on Friday, May 22nd.

Signet Jewelers Price Performance

Signet Jewelers stock opened at $86.54 on Tuesday. Signet Jewelers has a 12-month low of $71.61 and a 12-month high of $110.20. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 0.92 and a beta of 1.18. The firm’s fifty day moving average price is $85.62 and its 200 day moving average price is $88.41.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.18. Signet Jewelers had a net margin of 4.29% and a return on equity of 22.54%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the firm posted $1.18 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. Analysts forecast that Signet Jewelers will post 10.57 earnings per share for the current fiscal year.

Signet Jewelers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, July 24th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. Signet Jewelers’s payout ratio is 13.46%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SIG. Royal Bank of Canada boosted its holdings in shares of Signet Jewelers by 87.2% in the 1st quarter. Royal Bank of Canada now owns 17,564 shares of the company’s stock valued at $1,020,000 after buying an additional 8,183 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Signet Jewelers by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company’s stock valued at $49,333,000 after buying an additional 213,365 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Signet Jewelers by 9.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,573 shares of the company’s stock valued at $7,117,000 after buying an additional 10,964 shares during the period. Prudential Financial Inc. boosted its stake in Signet Jewelers by 55.4% during the 2nd quarter. Prudential Financial Inc. now owns 5,935 shares of the company’s stock valued at $472,000 after purchasing an additional 2,116 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Signet Jewelers by 171.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 678 shares of the company’s stock valued at $54,000 after purchasing an additional 428 shares during the period.

About Signet Jewelers

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.