Signet Jewelers Ltd. (NYSE:SIG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note 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 research firms have also recently weighed in on SIG. Vetr cut Signet Jewelers from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Monday, November 7th. Wells Fargo & Co. set a $103.00 price objective on Signet Jewelers and gave the stock a “buy” rating in a research report on Saturday, November 19th. Nomura upped their price objective on Signet Jewelers from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday. Exane BNP Paribas cut Signet Jewelers from an “outperform” rating to a “neutral” rating in a research report on Friday, September 9th. Finally, Citigroup Inc. cut Signet Jewelers from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $83.00 in a research report on Friday, August 26th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. Signet Jewelers has an average rating of “Hold” and an average target price of $106.34.
Signet Jewelers (NYSE:SIG) opened at 93.86 on Friday. The company has a market capitalization of $7.10 billion, a P/E ratio of 14.30 and a beta of 1.17. The firm has a 50-day moving average price of $83.86 and a 200 day moving average price of $86.80. Signet Jewelers has a 12 month low of $72.65 and a 12 month high of $135.83.
Signet Jewelers (NYSE:SIG) last posted its earnings results on Tuesday, November 22nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.10. Signet Jewelers had a return on equity of 18.39% and a net margin of 7.93%. The firm earned $1.19 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. Analysts expect that Signet Jewelers will post $6.98 EPS for the current year.
Several institutional investors have recently made changes to their positions in SIG. SRB Corp raised its position in shares of Signet Jewelers by 27.0% in the third quarter. SRB Corp now owns 1,654 shares of the company’s stock worth $123,000 after buying an additional 352 shares during the period. Pacer Advisors Inc. raised its position in shares of Signet Jewelers by 6.8% in the second quarter. Pacer Advisors Inc. now owns 1,561 shares of the company’s stock worth $129,000 after buying an additional 100 shares during the period. Virtus Investment Advisers Inc. purchased a new position in shares of Signet Jewelers during the third quarter worth $146,000. MU Investments Co. Ltd. purchased a new position in shares of Signet Jewelers during the second quarter worth $148,000. Finally, Toronto Dominion Bank raised its position in shares of Signet Jewelers by 429.6% in the third quarter. Toronto Dominion Bank now owns 2,198 shares of the company’s stock worth $164,000 after buying an additional 1,783 shares during the period. 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.