Signet Jewelers (NYSE:SIG) Upgraded to “Moderate Buy” at Raymond James Financial

Raymond James Financial upgraded shares of Signet Jewelers (NYSE:SIG) to a moderate buy rating in a report issued on Thursday morning,Zacks.com reports.

Several other brokerages have also recently issued reports on SIG. Weiss Ratings reiterated a “hold (c)” rating on shares of Signet Jewelers in a research note on Monday, July 6th. Citigroup upped their target price on shares of Signet Jewelers from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Wells Fargo & Company reaffirmed a “mixed” rating on shares of Signet Jewelers in a report on Wednesday, June 3rd. Royal Bank Of Canada upgraded shares of Signet Jewelers to a “hold” rating in a research note on Monday, March 30th. Finally, UBS Group lowered their price target on shares of Signet Jewelers from $126.00 to $121.00 and set a “buy” rating for the company in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Signet Jewelers currently has a consensus rating of “Moderate Buy” and an average target price of $112.00.

Signet Jewelers Trading Down 0.8%

Signet Jewelers stock opened at $89.87 on Thursday. The firm has a market capitalization of $3.53 billion, a P/E ratio of 12.60, a P/E/G ratio of 0.95 and a beta of 1.15. Signet Jewelers has a twelve month low of $71.61 and a twelve month high of $110.20. The stock’s fifty day simple moving average is $85.26 and its 200-day simple moving average is $88.50.

Signet Jewelers (NYSE:SIG) last released its earnings results on Tuesday, June 2nd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.18. Signet Jewelers had a return on equity of 22.54% and a net margin of 4.29%.The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the business posted $1.18 earnings per share. Signet Jewelers’s revenue was up .8% compared to the same quarter last year. Signet Jewelers has set its FY 2027 guidance at 9.200-11.000 EPS. Sell-side analysts predict that Signet Jewelers will post 10.57 earnings per share for the current year.

Signet Jewelers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, July 24th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, July 24th. Signet Jewelers’s dividend payout ratio is currently 13.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SIG. Dimensional Fund Advisors LP lifted its stake in Signet Jewelers by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,451,725 shares of the company’s stock worth $207,504,000 after purchasing an additional 58,771 shares during the last quarter. State Street Corp increased its stake in Signet Jewelers by 1.6% in the fourth quarter. State Street Corp now owns 1,688,602 shares of the company’s stock valued at $139,951,000 after purchasing an additional 27,379 shares during the last quarter. LSV Asset Management raised its holdings in Signet Jewelers by 90.0% during the fourth quarter. LSV Asset Management now owns 1,077,851 shares of the company’s stock worth $89,332,000 after purchasing an additional 510,551 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Signet Jewelers by 16.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,015,230 shares of the company’s stock worth $85,929,000 after purchasing an additional 145,654 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Signet Jewelers by 33.5% during the first quarter. Goldman Sachs Group Inc. now owns 849,692 shares of the company’s stock worth $49,333,000 after purchasing an additional 213,365 shares in the last quarter.

Signet Jewelers Company Profile

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.