Royal Bank of Canada cut shares of Signet Jewelers (NYSE:SIG) from an outperform rating to a sector perform rating in a report issued on Friday, MarketBeat reports. They currently have $55.00 target price on the stock, down from their previous target price of $60.00.

Other research analysts have also issued research reports about the stock. Needham & Company LLC set a $60.00 price target on shares of Signet Jewelers and gave the stock a buy rating in a research report on Thursday. Wells Fargo & Co set a $52.00 price objective on shares of Signet Jewelers and gave the stock a hold rating in a research report on Thursday. Susquehanna Bancshares initiated coverage on shares of Signet Jewelers in a research report on Thursday, November 2nd. They set a neutral rating and a $60.00 price objective on the stock. Telsey Advisory Group lowered their price objective on shares of Signet Jewelers from $83.00 to $60.00 and set a market perform rating on the stock in a research report on Wednesday, November 22nd. Finally, Cowen set a $54.00 price objective on shares of Signet Jewelers and gave the stock a hold rating in a research report on Saturday, November 25th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $64.67.

Signet Jewelers (NYSE SIG) traded up $1.72 during trading on Friday, reaching $56.94. 2,838,300 shares of the company’s stock traded hands, compared to its average volume of 3,670,067. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.76 and a current ratio of 2.63. The firm has a market capitalization of $3,450.00, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. Signet Jewelers has a 12-month low of $46.09 and a 12-month high of $85.30.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Signet Jewelers had a net margin of 7.32% and a return on equity of 20.76%. analysts predict that Signet Jewelers will post 6.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, February 1st. Signet Jewelers’s dividend payout ratio is currently 21.53%.

Several institutional investors have recently bought and sold shares of SIG. Schwab Charles Investment Management Inc. grew its holdings in shares of Signet Jewelers by 7.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 344,344 shares of the company’s stock valued at $21,777,000 after acquiring an additional 24,703 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Signet Jewelers 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 acquiring an additional 85 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Signet Jewelers by 0.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 200,712 shares of the company’s stock valued at $12,693,000 after acquiring an additional 1,531 shares in the last quarter. Norinchukin Bank The grew its holdings in shares of Signet Jewelers by 22.8% during the 2nd quarter. Norinchukin Bank The now owns 29,604 shares of the company’s stock valued at $1,872,000 after acquiring an additional 5,504 shares in the last quarter. Finally, Nationwide Fund Advisors grew its holdings in shares of Signet Jewelers by 8.2% during the 2nd quarter. Nationwide Fund Advisors now owns 20,595 shares of the company’s stock valued at $1,302,000 after acquiring an additional 1,564 shares in the last quarter.

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Signet Jewelers 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.

Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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