Signet Jewelers (SIG) – Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Signet Jewelers (NYSE: SIG) in the last few weeks:

• 9/16/2024 – Signet Jewelers was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/13/2024 – Signet Jewelers had its price target lowered by analysts at Bank of America Co. from $108.00 to $100.00. They now have a “neutral” rating on the stock.
• 9/11/2024 – Signet Jewelers had its price target lowered by analysts at UBS Group AG from $145.00 to $132.00. They now have a “buy” rating on the stock.
• 9/9/2024 – Signet Jewelers had its price target lowered by analysts at Telsey Advisory Group from $105.00 to $87.00. They now have a “market perform” rating on the stock.
• 9/4/2024 – Signet Jewelers was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/27/2024 – Signet Jewelers had its price target lowered by analysts at Wells Fargo & Company from $125.00 to $105.00. They now have an “overweight” rating on the stock.
• 8/27/2024 – Signet Jewelers was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

Signet Jewelers Price Performance

NYSE SIG traded down $1.31 during trading hours on Thursday, reaching $98.95. The company’s stock had a trading volume of 359,383 shares, compared to its average volume of 806,260. The stock has a market cap of $4.41 billion, a P/E ratio of 8.04, a P/E/G ratio of 1.11 and a beta of 2.10. The firm has a fifty day simple moving average of $82.77 and a 200-day simple moving average of $91.98. Signet Jewelers Limited has a 52 week low of $65.12 and a 52 week high of $112.06.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. Signet Jewelers had a net margin of 8.58% and a return on equity of 29.90%. The firm’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.55 EPS. On average, research analysts expect that Signet Jewelers Limited will post 10.8 earnings per share for the current year.

Signet Jewelers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 1.17%. Signet Jewelers’s dividend payout ratio is currently 9.43%.

Insider Activity

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,334 shares of Signet Jewelers stock in a transaction on Friday, July 5th. The stock was sold at an average price of $87.94, for a total value of $293,191.96. Following the completion of the sale, the director now owns 29,418 shares of the company’s stock, valued at approximately $2,587,018.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jamie Singleton sold 18,105 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $83.11, for a total value of $1,504,706.55. Following the completion of the sale, the insider now directly owns 162,942 shares in the company, valued at $13,542,109.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eugenia Ulasewicz sold 3,334 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $87.94, for a total transaction of $293,191.96. Following the completion of the transaction, the director now directly owns 29,418 shares in the company, valued at approximately $2,587,018.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,202 shares of company stock valued at $4,151,769. Corporate insiders own 3.26% of the company’s stock.

Hedge Funds Weigh In On Signet Jewelers

A number of large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its position in Signet Jewelers by 6.8% during the 1st quarter. Lazard Asset Management LLC now owns 1,830 shares of the company’s stock worth $183,000 after buying an additional 116 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Signet Jewelers by 15.3% during the second quarter. Blue Trust Inc. now owns 917 shares of the company’s stock valued at $82,000 after purchasing an additional 122 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Signet Jewelers by 1.4% during the second quarter. SummerHaven Investment Management LLC now owns 10,405 shares of the company’s stock valued at $932,000 after purchasing an additional 144 shares during the period. Commerce Bank lifted its holdings in shares of Signet Jewelers by 5.3% during the fourth quarter. Commerce Bank now owns 2,941 shares of the company’s stock valued at $315,000 after purchasing an additional 148 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Signet Jewelers by 5.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock worth $303,000 after purchasing an additional 156 shares during the last quarter.

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.