Signet Jewelers Ltd. (SIG) Target Price Lowered to $60.00

Signet Jewelers Ltd. (SIG) Target Price Lowered to $60.00

Signet Jewelers Ltd. (NYSE:SIG) had its price target decreased by analysts at JPMorgan Chase & Co. from $72.00 to $60.00 in a report issued on Wednesday. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 14.48% from the stock’s current price.

A number of other equities analysts have also weighed in on SIG. Cowen and Company restated a “market perform” rating and issued a $54.00 target price (down from $65.00) on shares of Signet Jewelers in a research note on Sunday, May 28th. Northcoast Research restated a “hold” rating on shares of Signet Jewelers in a research note on Saturday, March 11th. Citigroup Inc decreased their target price on Signet Jewelers from $70.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday. Instinet decreased their target price on Signet Jewelers from $92.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Bank of America Corp restated a “buy” rating and issued a $75.00 target price (down from $90.00) on shares of Signet Jewelers in a research note on Sunday, May 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $79.56.

Signet Jewelers (SIG) opened at 52.41 on Wednesday. The firm’s 50-day moving average is $61.39 and its 200-day moving average is $75.51. The firm has a market capitalization of $3.58 billion, a P/E ratio of 8.33 and a beta of 1.20. Signet Jewelers has a 52-week low of $46.09 and a 52-week high of $101.46.

Signet Jewelers (NYSE:SIG) last announced its earnings results on Thursday, May 25th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by $0.63. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.46 billion. Signet Jewelers had a return on equity of 19.67% and a net margin of 7.93%. Signet Jewelers’s revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.95 earnings per share. On average, equities analysts expect that Signet Jewelers will post $6.75 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Friday, July 28th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, July 26th. Signet Jewelers’s dividend payout ratio (DPR) is currently 15.88%.

In other Signet Jewelers news, Director H. Todd Stitzer acquired 2,090 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was acquired at an average price of $47.91 per share, for a total transaction of $100,131.90. Following the acquisition, the director now owns 16,823 shares in the company, valued at approximately $805,989.93. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.36% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in Signet Jewelers during the first quarter worth approximately $115,000. SRB Corp boosted its position in Signet Jewelers by 27.0% in the third quarter. SRB Corp now owns 1,654 shares of the company’s stock worth $123,000 after buying an additional 352 shares during the last quarter. James Investment Research Inc. purchased a new position in Signet Jewelers during the first quarter worth approximately $133,000. Daiwa Securities Group Inc. boosted its position in Signet Jewelers by 16.7% in the first quarter. Daiwa Securities Group Inc. now owns 2,100 shares of the company’s stock worth $145,000 after buying an additional 300 shares during the last quarter. Finally, Virtus Investment Advisers Inc. purchased a new position in Signet Jewelers during the third quarter worth approximately $146,000.

About Signet Jewelers

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SIG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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