Recent Analysts’ Ratings Changes for Signet Jewelers (SIG)

Several analysts have recently updated their ratings and price targets for Signet Jewelers (NYSE: SIG):

  • 4/3/2018 – Signet Jewelers had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $40.00 price target on the stock, down previously from $44.00.
  • 4/2/2018 – Signet Jewelers was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 3/21/2018 – Signet Jewelers was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Signet have underperformed the industry in the past three months. Despite reporting better-than-expected earnings in the fourth quarter fiscal 2018, the stock took a hit after the company provided soft fiscal 2019 guidance. For 2019, the company anticipates earnings per share between $3.75 and $4.25 compared with $6.51 in fiscal 2018. Of late, estimates have also witnessed sharp downward revisions. Further, waning same store sales, margins and mall traffic remain major concerns. However, Signet seems to be improving on digital marketing efforts and making planned capital investments to bring itself back on the growth trajectory. Also, it announced strategic initiatives for three years, which includes cost effectiveness and investment in eCommerce development, OmniChannel capabilities and product innovations. The company announced final phase of credit outsourcing too.”
  • 3/20/2018 – Signet Jewelers had its price target lowered by analysts at JPMorgan Chase to $40.00. They now have a “neutral” rating on the stock.
  • 3/20/2018 – Signet Jewelers was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating. They now have a $43.00 price target on the stock.
  • 3/15/2018 – Signet Jewelers had its “neutral” rating reaffirmed by analysts at Buckingham Research. They now have a $36.00 price target on the stock, down previously from $57.00.
  • 3/15/2018 – Signet Jewelers had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $44.00 price target on the stock, down previously from $55.00.
  • 3/15/2018 – Signet Jewelers was given a new $35.00 price target on by analysts at Susquehanna Bancshares Inc. They now have a “hold” rating on the stock.
  • 3/15/2018 – Signet Jewelers was given a new $40.00 price target on by analysts at Cowen Inc. They now have a “hold” rating on the stock.
  • 3/15/2018 – Signet Jewelers was given a new $38.00 price target on by analysts at Royal Bank of Canada. They now have a “hold” rating on the stock.
  • 3/15/2018 – Signet Jewelers was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating. They now have a $74.00 price target on the stock.
  • 3/15/2018 – Signet Jewelers was given a new $45.00 price target on by analysts at Nomura. They now have a “buy” rating on the stock.
  • 3/14/2018 – Signet Jewelers was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 3/14/2018 – Signet Jewelers had its “hold” rating reaffirmed by analysts at Wells Fargo.
  • 3/12/2018 – Signet Jewelers had its “hold” rating reaffirmed by analysts at JPMorgan Chase. They now have a $52.00 price target on the stock.
  • 3/7/2018 – Signet Jewelers was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 3/6/2018 – Signet Jewelers was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Shares of Signet has lost sheen in the index and underperformed the industry in the past six months. The stock further came under pressure following the company’s lackluster performance during the holiday season and soft fiscal 2018 guidance. The company’s dismal holiday sales results were primarily due to negative effect of the credit outsourcing transition and weakness at UK Jewelry division. Further, challenging retail landscape, aggressive promotional strategies and waning mall traffic were the other reasons behind lower-than-expected results. However, e-commerce sales in the holiday season surged 47.7% from the year-ago period. Sharp increase in e-commerce sales were primarily driven by R2Net buyout. Signet is improving digital marketing efforts and making planned capital investments to bring itself back on the growth trajectory. Of late, estimates have been going up ahead of the company’s fourth-quarter fiscal 2018 results.”
  • 3/1/2018 – Signet Jewelers was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.

Shares of SIG stock opened at $37.43 on Monday. The company has a quick ratio of 1.12, a current ratio of 3.32 and a debt-to-equity ratio of 0.28. Signet Jewelers has a 12-month low of $33.11 and a 12-month high of $77.94. The firm has a market cap of $2,265.11, a PE ratio of 5.75, a P/E/G ratio of 1.18 and a beta of 0.85.

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Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, March 14th. The company reported $4.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.26 by $0.02. Signet Jewelers had a net margin of 8.30% and a return on equity of 20.34%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $4.03 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. research analysts anticipate that Signet Jewelers will post 3.96 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Friday, May 4th will be issued a dividend of $0.37 per share. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 3rd. This represents a $1.48 annualized dividend and a yield of 3.95%. Signet Jewelers’s dividend payout ratio is presently 19.05%.

In other Signet Jewelers news, insider Oded Edelman bought 90,398 shares of Signet Jewelers stock in a transaction that occurred on Friday, January 12th. The stock was acquired at an average price of $55.31 per share, for a total transaction of $4,999,913.38. Following the completion of the acquisition, the insider now owns 33,962 shares of the company’s stock, valued at approximately $1,878,438.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in SIG. Nationwide Fund Advisors boosted its holdings in Signet Jewelers by 23.6% during the third quarter. Nationwide Fund Advisors now owns 25,447 shares of the company’s stock worth $1,693,000 after purchasing an additional 4,852 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Signet Jewelers by 1.5% in the third quarter. Great West Life Assurance Co. Can now owns 48,700 shares of the company’s stock valued at $3,262,000 after acquiring an additional 734 shares during the last quarter. Legal & General Group Plc lifted its stake in Signet Jewelers by 3.2% in the third quarter. Legal & General Group Plc now owns 382,381 shares of the company’s stock valued at $25,449,000 after acquiring an additional 11,830 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Signet Jewelers by 30.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,446,968 shares of the company’s stock valued at $96,298,000 after acquiring an additional 340,761 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in Signet Jewelers in the third quarter valued at $231,000.

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, Puerto Rico, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands.

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