Today, Signet Jewelers Ltd. (SIG) Raised to “Hold” at The Zacks Investment Research

Today, Signet Jewelers Ltd. (SIG) Raised to “Hold” at The Zacks Investment Research

Signet Jewelers Ltd. (NYSE:SIG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Signet Jewelers Ltd. is engaged in retailing of jewelry, watches and associated services. The company operates primarily in the United States, the United Kingdom, the Republic of Ireland and the Channel Islands. Signet Jewelers Ltd., formerly known as Signet Group PLC, is based in Hamilton, Bermuda. “

Several other equities research analysts have also commented on SIG. Cowen and Company reaffirmed an “outperform” rating and set a $130.00 price target on shares of Signet Jewelers in a research report on Thursday, July 28th. Deutsche Bank AG reduced their price target on shares of Signet Jewelers from $150.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, August 23rd. Telsey Advisory Group reduced their price target on shares of Signet Jewelers from $140.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, August 26th. Royal Bank Of Canada reduced their price target on shares of Signet Jewelers from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, August 26th. Finally, Citigroup Inc. lowered shares of Signet Jewelers from a “buy” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $83.00 in a research report on Friday, August 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company’s stock. Signet Jewelers presently has a consensus rating of “Hold” and an average target price of $106.34.

Shares of Signet Jewelers (NYSE:SIG) opened at 93.86 on Friday. Signet Jewelers has a 12 month low of $72.65 and a 12 month high of $135.83. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of 14.30 and a beta of 1.17. The firm’s 50-day moving average is $83.86 and its 200 day moving average is $86.80.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Tuesday, November 22nd. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.10. Signet Jewelers had a net margin of 7.93% and a return on equity of 18.39%. The firm earned $1.19 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts expect that Signet Jewelers will post $6.98 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in Signet Jewelers by 427.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,128,618 shares of the company’s stock worth $307,706,000 after buying an additional 3,345,862 shares in the last quarter. Nicholas Co. Inc. WI increased its stake in shares of Signet Jewelers by 885.3% in the second quarter. Nicholas Co. Inc. WI now owns 1,082,895 shares of the company’s stock worth $89,241,000 after buying an additional 972,995 shares in the last quarter. Farallon Capital Management LLC increased its stake in shares of Signet Jewelers by 47.0% in the second quarter. Farallon Capital Management LLC now owns 2,812,471 shares of the company’s stock worth $231,776,000 after buying an additional 899,618 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Signet Jewelers by 154.4% in the second quarter. Point72 Asset Management L.P. now owns 1,063,000 shares of the company’s stock worth $87,602,000 after buying an additional 645,100 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Signet Jewelers by 6,001.0% in the second quarter. Canada Pension Plan Investment Board now owns 640,600 shares of the company’s stock worth $52,792,000 after buying an additional 630,100 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Signet Jewelers Company Profile

Signet Jewelers Limited is a retailer of jewelry, watches and associated services in the United States, Canada and the United Kingdom. The Company’s segments are the Sterling Jewelers division, the UK Jewelry division, the Zale division, which consists of Zale Jewelry and Piercing Pagoda, and the Other segment.

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