Signet Jewelers Limited (SIG) Rating Reiterated by Bank of America Corporation

Signet Jewelers Limited (NYSE:SIG)‘s stock had its “buy” rating reiterated by stock analysts at Bank of America Corporation in a note issued to investors on Wednesday. They presently have a $75.00 price objective on the stock. Bank of America Corporation’s price target would indicate a potential upside of 31.63% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Instinet reissued a “buy” rating and set a $70.00 price target on shares of Signet Jewelers Limited in a report on Wednesday. BidaskClub raised shares of Signet Jewelers Limited from a “sell” rating to a “hold” rating in a report on Tuesday. Cowen and Company reissued a “market perform” rating and set a $54.00 price target on shares of Signet Jewelers Limited in a report on Friday, June 9th. ValuEngine downgraded shares of Signet Jewelers Limited from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, J P Morgan Chase & Co lowered their price target on shares of Signet Jewelers Limited from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, May 31st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $79.56.

Analyst Recommendations for Signet Jewelers Limited (NYSE:SIG)

Signet Jewelers Limited (SIG) opened at 56.98 on Wednesday. The company’s 50 day moving average is $58.35 and its 200-day moving average is $72.19. The stock has a market cap of $3.90 billion, a PE ratio of 9.05 and a beta of 1.03. Signet Jewelers Limited has a 1-year low of $46.09 and a 1-year high of $101.46.

Signet Jewelers Limited (NYSE:SIG) last announced its quarterly earnings results on Thursday, May 25th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.66 by $0.63. Signet Jewelers Limited had a return on equity of 19.20% and a net margin of 7.46%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company posted $1.95 earnings per share. The business’s quarterly revenue was down 11.1% on a year-over-year basis. Equities research analysts forecast that Signet Jewelers Limited will post $6.74 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Friday, July 28th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, July 26th. Signet Jewelers Limited’s payout ratio is 19.97%.

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In other Signet Jewelers Limited news, Director H. Todd Stitzer purchased 2,090 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were purchased at an average cost of $47.91 per share, with a total value of $100,131.90. Following the completion of the purchase, the director now owns 16,823 shares in the company, valued at approximately $805,989.93. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Several institutional investors have recently bought and sold shares of SIG. BlackRock Inc. increased its position in Signet Jewelers Limited by 3,088.1% in the first quarter. BlackRock Inc. now owns 4,143,731 shares of the company’s stock valued at $287,037,000 after buying an additional 4,013,758 shares in the last quarter. Abrams Bison Investments LLC increased its position in Signet Jewelers Limited by 1.5% in the first quarter. Abrams Bison Investments LLC now owns 4,015,847 shares of the company’s stock valued at $278,178,000 after buying an additional 60,847 shares in the last quarter. State Street Corp increased its position in Signet Jewelers Limited by 8.3% in the first quarter. State Street Corp now owns 3,295,739 shares of the company’s stock valued at $228,316,000 after buying an additional 251,763 shares in the last quarter. Causeway Capital Management LLC increased its position in Signet Jewelers Limited by 61.3% in the first quarter. Causeway Capital Management LLC now owns 2,439,144 shares of the company’s stock valued at $194,106,000 after buying an additional 927,355 shares in the last quarter. Finally, SRS Investment Management LLC increased its position in Signet Jewelers Limited by 54.2% in the first quarter. SRS Investment Management LLC now owns 1,817,103 shares of the company’s stock valued at $125,871,000 after buying an additional 638,954 shares in the last quarter.

About Signet Jewelers Limited

Signet Jewelers Limited is a retailer of diamond jewelry. The Company’s segments include the Sterling Jewelers division; the Zale division, which consists of the Zale Jewelry and Piercing Pagoda segments; the UK Jewelry division, and Other. The Sterling Jewelers division’s stores operate in the United States principally as Kay Jewelers (Kay), Kay Jewelers Outlet, Jared The Galleria Of Jewelry (Jared) and Jared Vault.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SIG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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