Analysts Set Signet Jewelers Limited (NYSE:SIG) Price Target at $112.60

Shares of Signet Jewelers Limited (NYSE:SIG) have received an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $108.60.

SIG has been the topic of a number of research reports. Wells Fargo & Company cut their price objective on Signet Jewelers from $125.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Bank of America cut their price objective on Signet Jewelers from $108.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. StockNews.com upgraded Signet Jewelers from a “hold” rating to a “buy” rating in a report on Monday. Telsey Advisory Group dropped their target price on Signet Jewelers from $105.00 to $87.00 and set a “market perform” rating on the stock in a report on Monday, September 9th. Finally, Citigroup reiterated a “buy” rating and set a $119.00 target price on shares of Signet Jewelers in a report on Friday, June 14th.

Insiders Place Their Bets

In other Signet Jewelers news, insider Jamie Singleton sold 18,105 shares of Signet Jewelers stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $83.11, for a total transaction of $1,504,706.55. Following the sale, the insider now directly owns 162,942 shares in the company, valued at approximately $13,542,109.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Joan M. Hilson sold 8,000 shares of Signet Jewelers stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $91.81, for a total value of $734,480.00. Following the completion of the transaction, the insider now owns 189,231 shares in the company, valued at approximately $17,373,298.11. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jamie Singleton sold 18,105 shares of Signet Jewelers stock in a transaction that occurred 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 transaction, the insider now owns 162,942 shares of the company’s stock, valued at approximately $13,542,109.62. The disclosure for this sale can be found here. Insiders have sold 61,202 shares of company stock worth $5,157,269 in the last three months. 3.26% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Select Equity Group L.P. grew its position in shares of Signet Jewelers by 2.9% in the 2nd quarter. Select Equity Group L.P. now owns 6,949,785 shares of the company’s stock worth $622,562,000 after acquiring an additional 193,977 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Signet Jewelers by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,386,787 shares of the company’s stock valued at $213,809,000 after purchasing an additional 149,934 shares during the period. Pacer Advisors Inc. boosted its position in Signet Jewelers by 6.5% during the 2nd quarter. Pacer Advisors Inc. now owns 2,069,071 shares of the company’s stock valued at $185,347,000 after purchasing an additional 126,726 shares during the period. Eminence Capital LP boosted its position in Signet Jewelers by 71.3% during the 2nd quarter. Eminence Capital LP now owns 844,428 shares of the company’s stock valued at $75,644,000 after purchasing an additional 351,588 shares during the period. Finally, Anomaly Capital Management LP boosted its position in Signet Jewelers by 12.4% during the 2nd quarter. Anomaly Capital Management LP now owns 691,451 shares of the company’s stock valued at $61,940,000 after purchasing an additional 76,534 shares during the period.

Signet Jewelers Trading Up 1.8 %

Shares of NYSE:SIG opened at $93.57 on Wednesday. The stock’s 50-day moving average price is $81.50 and its two-hundred day moving average price is $92.01. Signet Jewelers has a 12-month low of $65.12 and a 12-month high of $112.06. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 7.61, a PEG ratio of 0.95 and a beta of 2.10.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings data on Thursday, September 12th. The company reported $1.25 EPS 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 the consensus estimate of $1.50 billion. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the business posted $1.55 EPS. As a group, research analysts forecast that Signet Jewelers will post 10.47 earnings per share for the current fiscal year.

Signet Jewelers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 annualized dividend and a yield of 1.24%. Signet Jewelers’s dividend payout ratio is presently 9.43%.

About Signet Jewelers

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.