Today: Wells Fargo & Co. Reiterates Outperform Rating for Signet Jewelers Ltd. (SIG)

Today: Wells Fargo & Co. Reiterates Outperform Rating for Signet Jewelers Ltd. (SIG)

Signet Jewelers Ltd. (NYSE:SIG)‘s stock had its “outperform” rating restated by investment analysts at Wells Fargo & Co. in a note issued to investors on Monday. They currently have a $109.00 price objective on the stock, up from their previous price objective of $102.50. Wells Fargo & Co.’s target price would suggest a potential upside of 17.12% from the company’s previous close.

Several other research firms have also recently commented on SIG. Zacks Investment Research cut shares of Signet Jewelers from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. Deutsche Bank AG dropped their target price on shares of Signet Jewelers from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, August 23rd. BNP Paribas cut shares of Signet Jewelers from an “outperform” rating to a “neutral” rating in a research report on Thursday, September 8th. Cowen and Company cut shares of Signet Jewelers from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $96.00 to $85.00 in a research report on Tuesday, September 13th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $90.00 target price (up previously from $83.00) on shares of Signet Jewelers in a research report on Saturday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $107.19.

Shares of Signet Jewelers (NYSE:SIG) opened at 93.07 on Monday. The firm has a market cap of $7.04 billion, a P/E ratio of 14.18 and a beta of 1.17. Signet Jewelers has a 12 month low of $72.65 and a 12 month high of $135.59. The company’s 50-day moving average price is $84.26 and its 200-day moving average price is $86.70.

Signet Jewelers (NYSE:SIG) last posted its earnings results on Tuesday, November 22nd. The company reported $0.30 EPS for the quarter, topping 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 19.67%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the firm earned $0.33 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, analysts predict that Signet Jewelers will post $6.98 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. SRB Corp increased 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 valued at $123,000 after buying an additional 352 shares during the period. Pacer Advisors Inc. increased 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 valued at $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 valued at approximately $146,000. MU Investments Co. Ltd. purchased a new position in shares of Signet Jewelers during the second quarter valued at approximately $148,000. Finally, Toronto Dominion Bank increased 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 valued at $164,000 after buying an additional 1,783 shares during the period. 98.92% of the stock is owned by hedge funds and other institutional investors.

About Signet Jewelers

Related posts

Leave a Comment