Signet Jewelers (SIG) Price Target Cut to $40.00

Signet Jewelers (NYSE:SIG) had its price target lowered by JPMorgan Chase & Co. to $40.00 in a report issued on Tuesday. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on the company. Needham & Company LLC reissued a buy rating and issued a $60.00 target price on shares of Signet Jewelers in a research report on Wednesday, November 22nd. They noted that the move was a valuation call. Telsey Advisory Group reissued a market perform rating and issued a $44.00 target price (down from $55.00) on shares of Signet Jewelers in a research report on Thursday, March 15th. Buckingham Research reissued a neutral rating and issued a $36.00 target price (down from $57.00) on shares of Signet Jewelers in a research report on Thursday, March 15th. Zacks Investment Research downgraded Signet Jewelers from a hold rating to a strong sell rating in a research report on Friday, February 2nd. Finally, Cowen set a $40.00 target price on Signet Jewelers and gave the stock a hold rating in a research report on Thursday, March 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $52.91.

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Shares of Signet Jewelers (NYSE SIG) opened at $38.86 on Tuesday. The company has a current ratio of 3.32, a quick ratio of 1.12 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2,415.80, a P/E ratio of 5.25, a P/E/G ratio of 1.01 and a beta of 0.73. Signet Jewelers has a 52-week low of $37.42 and a 52-week high of $77.94.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings results on Wednesday, March 14th. The company reported $4.28 EPS for the quarter, beating the Zacks’ consensus estimate of $4.26 by $0.02. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.24 billion. Signet Jewelers had a return on equity of 20.34% and a net margin of 8.30%. Signet Jewelers’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $4.03 earnings per share. research analysts anticipate that Signet Jewelers will post 4.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 4th will be issued a $0.37 dividend. This is a positive change from Signet Jewelers’s previous quarterly dividend of $0.31. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Thursday, May 3rd. Signet Jewelers’s dividend payout ratio (DPR) is presently 16.76%.

In related news, insider Oded Edelman purchased 90,398 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was purchased at an average cost of $55.31 per share, with a total value of $4,999,913.38. Following the completion of the acquisition, the insider now directly owns 33,962 shares of the company’s stock, valued at $1,878,438.22. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.52% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Monroe Bank & Trust MI bought a new position in shares of Signet Jewelers in the third quarter worth $179,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Signet Jewelers in the fourth quarter worth $109,000. Delpha Capital Management LLC bought a new position in shares of Signet Jewelers in the fourth quarter worth $113,000. First Mercantile Trust Co. bought a new position in shares of Signet Jewelers in the fourth quarter worth $157,000. Finally, GSA Capital Partners LLP bought a new position in shares of Signet Jewelers in the third quarter worth $202,000.

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Signet Jewelers Company Profile

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.

Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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