Signet Jewelers (NYSE:SIG) Shares Break Above 200-Day Moving Average – Here’s Why

Signet Jewelers Limited (NYSE:SIG) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $89.35 and traded as high as $106.98. Signet Jewelers shares last traded at $105.5090, with a volume of 626,771 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup raised their target price on Signet Jewelers from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. Bank of America upped their price target on Signet Jewelers from $102.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, September 10th. Stephens reiterated an “overweight” rating and issued a $130.00 price target on shares of Signet Jewelers in a research note on Tuesday, September 8th. Wells Fargo & Company raised their price objective on shares of Signet Jewelers from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 9th. Finally, Telsey Advisory Group boosted their price objective on shares of Signet Jewelers from $96.00 to $105.00 and gave the stock a “market perform” rating in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $125.56.

Signet Jewelers Price Performance

The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 0.58 and a beta of 1.10. The stock has a 50-day moving average price of $94.01 and a 200 day moving average price of $89.46.

Signet Jewelers (NYSE:SIG) last announced its earnings results on Wednesday, September 9th. The company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.50. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Signet Jewelers had a return on equity of 23.28% and a net margin of 5.19%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.61 EPS. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. As a group, equities research analysts predict that Signet Jewelers Limited will post 11.70 earnings per share for the current year.

Signet Jewelers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 23rd will be given a dividend of $0.35 per share. The ex-dividend date is Friday, October 23rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. Signet Jewelers’s dividend payout ratio (DPR) is 16.13%.

Institutional Trading of Signet Jewelers

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Signet Jewelers by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,451,725 shares of the company’s stock worth $207,504,000 after purchasing an additional 58,771 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Signet Jewelers by 16.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,015,230 shares of the company’s stock valued at $85,929,000 after buying an additional 145,654 shares during the last quarter. Junto Capital Management LP boosted its stake in shares of Signet Jewelers by 96.3% during the second quarter. Junto Capital Management LP now owns 417,016 shares of the company’s stock worth $35,947,000 after buying an additional 204,596 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Signet Jewelers by 7.9% during the first quarter. Pacer Advisors Inc. now owns 283,706 shares of the company’s stock worth $24,013,000 after buying an additional 20,780 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Signet Jewelers by 35.9% during the first quarter. Principal Financial Group Inc. now owns 265,235 shares of the company’s stock worth $22,449,000 after buying an additional 70,110 shares during the period.

About Signet Jewelers

Signet Jewelers Limited (NYSE:SIG) is a specialty jewelry retailer that operates through a portfolio of branded stores and online platforms. Its businesses sell diamond, bridal and fashion jewelry, watches, gifts and related accessories, while also providing services such as jewelry repair, customization and financing.

The company’s principal retail brands include Kay Jewelers, Zales, Jared, Diamonds Direct, James Allen, Peoples and Banter by Piercing Pagoda. These brands serve customers through a combination of mall-based and off-mall stores, standalone locations, digital commerce platforms and specialty formats, with offerings positioned across a range of price points and shopping occasions.

Signet primarily serves customers in the United States, Canada and the United Kingdom.