UBS Group Issues Positive Forecast for Signet Jewelers (NYSE:SIG) Stock Price

Signet Jewelers (NYSE:SIGFree Report) had its target price boosted by UBS Group from $118.00 to $126.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on SIG. The Goldman Sachs Group upgraded shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 21st. Jefferies Financial Group reiterated a “buy” rating on shares of Signet Jewelers in a report on Monday, March 9th. Wall Street Zen raised shares of Signet Jewelers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. 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 research note on Friday. Finally, Zacks Research cut Signet Jewelers from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.00.

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Signet Jewelers Stock Performance

NYSE:SIG opened at $89.25 on Friday. The firm has a market capitalization of $3.63 billion, a PE ratio of 12.52, a PEG ratio of 0.97 and a beta of 1.25. The stock’s fifty day moving average is $91.98 and its 200 day moving average is $93.41. Signet Jewelers has a fifty-two week low of $49.99 and a fifty-two week high of $110.20.

Signet Jewelers (NYSE:SIGGet Free Report) last posted its quarterly earnings data on Thursday, March 19th. The company reported $6.25 EPS for the quarter, topping the consensus estimate of $6.11 by $0.14. Signet Jewelers had a net margin of 4.32% and a return on equity of 22.22%. The company had revenue of ($4,468.50) million during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the firm earned $6.62 earnings per share. Signet Jewelers’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts forecast that Signet Jewelers will post 8.73 EPS for the current year.

Signet Jewelers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, April 24th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.6%. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, April 24th. Signet Jewelers’s dividend payout ratio (DPR) is 38.21%.

Institutional Investors Weigh In On Signet Jewelers

A number of large investors have recently modified their holdings of the business. Salomon & Ludwin LLC acquired a new position in shares of Signet Jewelers during the third quarter valued at about $31,000. Richardson Financial Services Inc. acquired a new stake in Signet Jewelers in the 4th quarter worth approximately $31,000. Farther Finance Advisors LLC boosted its stake in Signet Jewelers by 48.6% in the 4th quarter. Farther Finance Advisors LLC now owns 379 shares of the company’s stock worth $31,000 after purchasing an additional 124 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Signet Jewelers during the 4th quarter worth approximately $39,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Signet Jewelers by 111.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 633 shares of the company’s stock worth $52,000 after purchasing an additional 333 shares during the last quarter.

More Signet Jewelers News

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Signet Jewelers Company Profile

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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.

Further Reading

Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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