Signet Jewelers (SIG) Upgraded to “Neutral” at Citigroup

Citigroup upgraded shares of Signet Jewelers (NYSE:SIG) from a sell rating to a neutral rating in a research note published on Friday, Marketbeat.com reports.

A number of other equities analysts also recently commented on SIG. ValuEngine downgraded shares of Signet Jewelers from a sell rating to a strong sell rating in a research report on Tuesday, July 3rd. Zacks Investment Research upgraded shares of Signet Jewelers from a hold rating to a buy rating and set a $67.00 price objective for the company in a research report on Thursday, July 12th. Nomura downgraded shares of Signet Jewelers from a buy rating to a neutral rating and set a $62.00 price objective for the company. in a research report on Tuesday, July 31st. They noted that the move was a valuation call. TheStreet upgraded shares of Signet Jewelers from a d+ rating to a c- rating in a research report on Tuesday, August 21st. Finally, Telsey Advisory Group upped their price objective on shares of Signet Jewelers from $56.00 to $63.00 and gave the stock a market perform rating in a research report on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. Signet Jewelers has a consensus rating of Hold and a consensus target price of $55.13.

Shares of Signet Jewelers stock opened at $54.60 on Friday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 1.85 and a beta of 0.76. The company has a quick ratio of 0.47, a current ratio of 2.69 and a debt-to-equity ratio of 0.48. Signet Jewelers has a one year low of $33.11 and a one year high of $77.94.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Thursday, August 30th. The company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.32. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.34 billion. Signet Jewelers had a negative net margin of 2.84% and a positive return on equity of 17.52%. Signet Jewelers’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 EPS. On average, equities research analysts forecast that Signet Jewelers will post 4.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 2nd will be issued a $0.37 dividend. The ex-dividend date is Thursday, November 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.71%. Signet Jewelers’s dividend payout ratio is presently 22.73%.

Several institutional investors and hedge funds have recently made changes to their positions in SIG. Contrarius Investment Management Ltd purchased a new position in shares of Signet Jewelers in the 2nd quarter valued at about $121,682,000. BlackRock Inc. increased its holdings in shares of Signet Jewelers by 27.3% in the 2nd quarter. BlackRock Inc. now owns 6,861,060 shares of the company’s stock valued at $382,504,000 after purchasing an additional 1,470,230 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Signet Jewelers by 30.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,809,824 shares of the company’s stock valued at $212,403,000 after purchasing an additional 886,476 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Signet Jewelers by 62.2% in the 2nd quarter. Northern Trust Corp now owns 928,880 shares of the company’s stock valued at $51,785,000 after purchasing an additional 356,193 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Signet Jewelers by 54.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 653,138 shares of the company’s stock valued at $36,412,000 after purchasing an additional 229,838 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

About Signet Jewelers

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, 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, as well as JamesAllen.com, an online jewelry retailer Website.

Further Reading: Hedge Funds – How They Work For Investors

Analyst Recommendations for Signet Jewelers (NYSE:SIG)

Receive News & Ratings for Signet Jewelers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signet Jewelers and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply