Signet Jewelers Limited (SIG) Earns Buy Rating from Nomura
Signet Jewelers Limited (NYSE:SIG)‘s stock had its “buy” rating reiterated by investment analysts at Nomura in a research note issued on Wednesday. They currently have a $64.00 price objective on the stock. Nomura’s target price suggests a potential upside of 21.24% from the stock’s previous close.
SIG has been the subject of several other reports. Zacks Investment Research raised Signet Jewelers Limited from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Monday, September 4th. Wells Fargo & Company set a $97.00 price target on Signet Jewelers Limited and gave the company a “buy” rating in a research report on Wednesday, August 23rd. ValuEngine raised Signet Jewelers Limited from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Buckingham Research reissued a “neutral” rating and set a $51.00 price target on shares of Signet Jewelers Limited in a research report on Saturday, August 26th. Finally, Royal Bank Of Canada set a $66.00 price target on Signet Jewelers Limited and gave the company a “buy” rating in a research report on Friday, August 25th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $67.47.
Shares of Signet Jewelers Limited (NYSE:SIG) traded down $23.05 during midday trading on Wednesday, hitting $52.79. The stock had a trading volume of 18,603,400 shares, compared to its average volume of 1,830,010. Signet Jewelers Limited has a twelve month low of $46.09 and a twelve month high of $101.46. The stock has a market capitalization of $4,585.29, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 1.41 and a beta of 1.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.40.
Signet Jewelers Limited (NYSE:SIG) last announced its earnings results on Thursday, August 24th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.10 by $0.23. Signet Jewelers Limited had a return on equity of 20.86% and a net margin of 7.62%. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the business posted $1.14 earnings per share. Signet Jewelers Limited’s revenue was up 1.9% compared to the same quarter last year. research analysts anticipate that Signet Jewelers Limited will post 7.16 earnings per share for the current fiscal year.
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A number of large investors have recently made changes to their positions in the stock. Alps Advisors Inc. boosted its stake in Signet Jewelers Limited by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 7,060 shares of the company’s stock valued at $446,000 after purchasing an additional 19 shares during the period. M&T Bank Corp boosted its stake in Signet Jewelers Limited by 0.8% during the 2nd quarter. M&T Bank Corp now owns 7,142 shares of the company’s stock valued at $452,000 after purchasing an additional 59 shares during the period. Commonwealth Bank of Australia boosted its stake in Signet Jewelers Limited by 5.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,609 shares of the company’s stock valued at $101,000 after purchasing an additional 85 shares during the period. Gateway Investment Advisers LLC boosted its stake in Signet Jewelers Limited by 1.8% during the 2nd quarter. Gateway Investment Advisers LLC now owns 5,201 shares of the company’s stock valued at $329,000 after purchasing an additional 91 shares during the period. Finally, US Bancorp DE boosted its stake in Signet Jewelers Limited by 1.9% during the 2nd quarter. US Bancorp DE now owns 13,361 shares of the company’s stock valued at $845,000 after purchasing an additional 249 shares during the period.
Signet Jewelers Limited Company Profile
Signet Jewelers Limited is a retailer of diamond jewelry. The Company’s segments include the Sterling Jewelers division; the Zale division, which consists of the Zale Jewelry and Piercing Pagoda segments; the UK Jewelry division, and Other. The Sterling Jewelers division’s stores operate in the United States principally as Kay Jewelers (Kay), Kay Jewelers Outlet, Jared The Galleria Of Jewelry (Jared) and Jared Vault.
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