Signet Jewelers (NYSE:SIG) Given New $89.00 Price Target at UBS Group

Signet Jewelers (NYSE:SIG) had its target price increased by UBS Group from $85.00 to $89.00 in a report released on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

SIG has been the topic of a number of other research reports. Wells Fargo & Company dropped their target price on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Bank of America cut their price objective on shares of Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Telsey Advisory Group reissued a “market perform” rating and set a $55.00 price target on shares of Signet Jewelers in a research report on Wednesday. Finally, StockNews.com downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

Signet Jewelers Price Performance

Shares of SIG opened at $56.31 on Thursday. The business’s fifty day moving average is $54.89 and its 200 day moving average is $78.50. Signet Jewelers has a 12-month low of $45.55 and a 12-month high of $112.06. The company has a quick ratio of 0.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.14. The stock has a market cap of $2.45 billion, a P/E ratio of 6.48, a P/E/G ratio of 3.43 and a beta of 2.20.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $6.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.39 by $0.23. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the company earned $6.73 earnings per share. The business’s revenue was down 5.8% on a year-over-year basis. Sell-side analysts anticipate that Signet Jewelers will post 8.73 earnings per share for the current fiscal year.

Signet Jewelers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, April 25th. This is an increase from Signet Jewelers’s previous quarterly dividend of $0.29. Signet Jewelers’s dividend payout ratio (DPR) is 13.35%.

Insider Buying and Selling at Signet Jewelers

In related news, Director Eugenia Ulasewicz sold 3,333 shares of Signet Jewelers stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $54.13, for a total value of $180,415.29. Following the sale, the director now owns 22,752 shares of the company’s stock, valued at approximately $1,231,565.76. The trade was a 12.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.26% of the company’s stock.

Institutional Trading of Signet Jewelers

Large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Signet Jewelers by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,550,233 shares of the company’s stock worth $205,830,000 after acquiring an additional 139,109 shares during the period. Cooper Creek Partners Management LLC lifted its holdings in Signet Jewelers by 1,046.3% during the fourth quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company’s stock valued at $152,495,000 after purchasing an additional 1,724,592 shares during the last quarter. Anomaly Capital Management LP boosted its position in Signet Jewelers by 862.5% during the fourth quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company’s stock worth $142,253,000 after purchasing an additional 1,579,410 shares during the period. State Street Corp increased its stake in shares of Signet Jewelers by 1.0% in the third quarter. State Street Corp now owns 1,756,075 shares of the company’s stock worth $181,122,000 after purchasing an additional 16,912 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Signet Jewelers by 18.9% in the fourth quarter. American Century Companies Inc. now owns 1,150,441 shares of the company’s stock valued at $92,852,000 after purchasing an additional 182,948 shares during the period.

Signet Jewelers Company Profile

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.