Signet Jewelers Limited (SIG) Raised to “Hold” at BidaskClub
BidaskClub upgraded shares of Signet Jewelers Limited (NYSE:SIG) from a sell rating to a hold rating in a research note released on Tuesday.
SIG has been the subject of several other reports. Royal Bank Of Canada reduced their price objective on Signet Jewelers Limited from $92.00 to $78.00 and set an outperform rating for the company in a research note on Friday, March 10th. Telsey Advisory Group dropped their price objective on Signet Jewelers Limited from $75.00 to $58.00 and set a market perform rating for the company in a research note on Friday, May 26th. Bank of America Corporation reaffirmed a buy rating and issued a $75.00 price objective (down from $90.00) on shares of Signet Jewelers Limited in a research note on Sunday, May 28th. Cowen and Company reaffirmed a market perform rating and issued a $54.00 price objective on shares of Signet Jewelers Limited in a research note on Friday, June 9th. Finally, ValuEngine downgraded Signet Jewelers Limited from a buy rating to a hold rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. Signet Jewelers Limited currently has an average rating of Hold and a consensus price target of $79.75.
Shares of Signet Jewelers Limited (NYSE SIG) opened at 58.41 on Tuesday. The firm has a 50-day moving average price of $58.35 and a 200-day moving average price of $72.19. The stock has a market capitalization of $4.00 billion, a PE ratio of 9.28 and a beta of 1.03. Signet Jewelers Limited has a 1-year low of $46.09 and a 1-year high of $101.46.
Signet Jewelers Limited (NYSE:SIG) last announced its earnings results on Thursday, May 25th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by $0.63. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.46 billion. Signet Jewelers Limited had a net margin of 7.46% and a return on equity of 19.20%. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.95 earnings per share. On average, equities research analysts forecast that Signet Jewelers Limited will post $6.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Friday, July 28th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Wednesday, July 26th. Signet Jewelers Limited’s payout ratio is 19.97%.
In other Signet Jewelers Limited news, Director H. Todd Stitzer bought 2,090 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $47.91 per share, with a total value of $100,131.90. Following the completion of the transaction, the director now owns 16,823 shares in the company, valued at $805,989.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.52% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Signet Jewelers Limited by 3,088.1% in the first quarter. BlackRock Inc. now owns 4,143,731 shares of the company’s stock worth $287,037,000 after buying an additional 4,013,758 shares during the last quarter. Abrams Bison Investments LLC raised its stake in shares of Signet Jewelers Limited by 1.5% in the first quarter. Abrams Bison Investments LLC now owns 4,015,847 shares of the company’s stock worth $278,178,000 after buying an additional 60,847 shares during the last quarter. State Street Corp raised its stake in shares of Signet Jewelers Limited by 8.3% in the first quarter. State Street Corp now owns 3,295,739 shares of the company’s stock worth $228,316,000 after buying an additional 251,763 shares during the last quarter. Causeway Capital Management LLC raised its stake in shares of Signet Jewelers Limited by 61.3% in the first quarter. Causeway Capital Management LLC now owns 2,439,144 shares of the company’s stock worth $194,106,000 after buying an additional 927,355 shares during the last quarter. Finally, SRS Investment Management LLC raised its stake in shares of Signet Jewelers Limited by 54.2% in the first quarter. SRS Investment Management LLC now owns 1,817,103 shares of the company’s stock worth $125,871,000 after buying an additional 638,954 shares during the last quarter.
About Signet Jewelers Limited
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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