Signet Jewelers (NYSE:SIG) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Signet Jewelers (NYSE:SIG) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks reports.

Several other analysts have also recently weighed in on SIG. Wells Fargo & Company raised their price target on Signet Jewelers from $90.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, September 9th. Stephens reissued an “overweight” rating and set a $130.00 price objective on shares of Signet Jewelers in a report on Tuesday, September 8th. Raymond James Financial upped their price objective on shares of Signet Jewelers from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, September 10th. Citigroup lifted their target price on shares of Signet Jewelers from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Finally, The Goldman Sachs Group increased their price target on shares of Signet Jewelers from $96.00 to $109.00 and gave the stock a “neutral” rating in a report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.56.

Signet Jewelers Price Performance

SIG opened at $100.12 on Tuesday. The firm has a market capitalization of $3.84 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 0.55 and a beta of 1.11. Signet Jewelers has a one year low of $71.61 and a one year high of $110.20. The company has a fifty day moving average price of $91.60 and a 200-day moving average price of $88.09.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $2.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.50. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. Signet Jewelers had a return on equity of 23.28% and a net margin of 5.19%.The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 earnings per share. Signet Jewelers has set its FY 2027 guidance at 10.450-12.150 EPS. On average, analysts expect that Signet Jewelers will post 11.7 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. Investors of record on Friday, October 23rd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.40 annualized dividend and a dividend yield of 1.4%. Signet Jewelers’s dividend payout ratio (DPR) is currently 16.13%.

Institutional Trading of Signet Jewelers

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

Signet Jewelers Company Profile

Signet Jewelers Limited (NYSE:SIG) is a specialty jewelry retailer serving customers primarily in the United States, Canada and the United Kingdom. The company sells diamond and other fine jewelry, engagement and wedding rings, fashion jewelry, watches, and related accessories through stores and e-commerce platforms.

Signet operates a portfolio of retail banners that includes Kay Jewelers, Zales, Jared, Diamonds Direct, Banter by Piercing Pagoda and Blue Nile. Its offerings span accessible fashion jewelry and personalized products as well as bridal jewelry and higher-end diamond merchandise.