Citigroup cut shares of Signet Jewelers (NYSE:SIG) from a neutral rating to a sell rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have $52.00 price target on the stock.
SIG has been the topic of several other reports. Wells Fargo & Co reiterated a hold rating on shares of Signet Jewelers in a research report on Wednesday, June 6th. Telsey Advisory Group lifted their target price on Signet Jewelers from $114.00 to $125.00 and gave the company a market perform rating in a research report on Friday, June 1st. ValuEngine downgraded Signet Jewelers from a sell rating to a strong sell rating in a research report on Tuesday, July 3rd. Susquehanna Bancshares reiterated a neutral rating and set a $60.00 target price on shares of Signet Jewelers in a research report on Thursday, June 7th. Finally, Zacks Investment Research upgraded Signet Jewelers from a strong sell rating to a hold rating in a research report on Tuesday, May 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $55.13.
NYSE SIG opened at $62.84 on Tuesday. The firm has a market cap of $3.68 billion, a P/E ratio of 9.65, a P/E/G ratio of 2.26 and a beta of 0.79. The company has a current ratio of 2.69, a quick ratio of 0.85 and a debt-to-equity ratio of 0.48. Signet Jewelers has a fifty-two week low of $33.11 and a fifty-two week high of $77.94.
Signet Jewelers (NYSE:SIG) last released its earnings results on Thursday, August 30th. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.32. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.34 billion. Signet Jewelers had a positive return on equity of 17.52% and a negative net margin of 2.84%. Signet Jewelers’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 earnings per share. equities research analysts anticipate that Signet Jewelers will post 4.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 2nd will be given a $0.37 dividend. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $1.48 annualized dividend and a dividend yield of 2.36%. Signet Jewelers’s payout ratio is 22.73%.
Several institutional investors have recently made changes to their positions in SIG. Nisa Investment Advisors LLC purchased a new position in shares of Signet Jewelers in the second quarter valued at about $112,000. Trilogy Capital Inc. purchased a new position in shares of Signet Jewelers in the first quarter valued at about $121,000. Itau Unibanco Holding S.A. purchased a new position in shares of Signet Jewelers in the second quarter valued at about $132,000. First Mercantile Trust Co. lifted its position in shares of Signet Jewelers by 54.9% in the first quarter. First Mercantile Trust Co. now owns 4,290 shares of the company’s stock valued at $165,000 after acquiring an additional 1,520 shares in the last quarter. Finally, St. Johns Investment Management Company LLC purchased a new position in shares of Signet Jewelers in the second quarter valued at about $193,000. Institutional investors and hedge funds own 93.60% of the company’s stock.
Signet Jewelers Company Profile
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.
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