Bank of America Trims Signet Jewelers (NYSE:SIG) Target Price to $100.00

Signet Jewelers (NYSE:SIG) had its target price trimmed by Bank of America from $108.00 to $100.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts also recently commented on SIG. Wells Fargo & Company cut their price objective on shares of Signet Jewelers from $125.00 to $105.00 and set an overweight rating for the company in a report on Tuesday, August 27th. StockNews.com downgraded Signet Jewelers from a buy rating to a hold rating in a research report on Wednesday, September 4th. Citigroup restated a buy rating and issued a $119.00 target price on shares of Signet Jewelers in a report on Friday, June 14th. UBS Group reduced their price target on Signet Jewelers from $145.00 to $132.00 and set a buy rating on the stock in a report on Wednesday, September 11th. Finally, Telsey Advisory Group dropped their price objective on shares of Signet Jewelers from $105.00 to $87.00 and set a market perform rating for the company in a report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $108.60.

Signet Jewelers Price Performance

NYSE SIG opened at $91.88 on Friday. The stock’s 50 day simple moving average is $81.50 and its 200-day simple moving average is $92.01. The company has a market cap of $4.10 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 0.95 and a beta of 2.10. Signet Jewelers has a 1-year low of $65.12 and a 1-year high of $112.06.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Thursday, September 12th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. Signet Jewelers had a return on equity of 29.90% and a net margin of 8.58%. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm posted $1.55 EPS. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, equities research analysts anticipate that Signet Jewelers will post 10.47 EPS for the current fiscal year.

Signet Jewelers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be given a $0.29 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 1.26%. Signet Jewelers’s payout ratio is currently 9.43%.

Insider Buying and Selling at Signet Jewelers

In related news, Director Eugenia Ulasewicz sold 3,334 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $87.94, for a total transaction of $293,191.96. Following the completion of the transaction, the director now owns 29,418 shares of the company’s stock, valued at approximately $2,587,018.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jamie Singleton sold 18,105 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $83.11, for a total value of $1,504,706.55. Following the sale, the insider now owns 162,942 shares in the company, valued at approximately $13,542,109.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eugenia Ulasewicz sold 3,334 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $87.94, for a total value of $293,191.96. Following the transaction, the director now directly owns 29,418 shares in the company, valued at approximately $2,587,018.92. The disclosure for this sale can be found here. Insiders sold a total of 61,202 shares of company stock worth $5,157,269 over the last three months. Insiders own 3.26% of the company’s stock.

Institutional Trading of Signet Jewelers

A number of institutional investors and hedge funds have recently bought and sold shares of SIG. BNP Paribas Financial Markets increased its stake in Signet Jewelers by 28.2% during the 4th quarter. BNP Paribas Financial Markets now owns 65,723 shares of the company’s stock worth $7,049,000 after buying an additional 14,465 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in Signet Jewelers by 9.1% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,809 shares of the company’s stock worth $409,000 after purchasing an additional 317 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Signet Jewelers by 55.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,532 shares of the company’s stock worth $164,000 after purchasing an additional 544 shares during the period. Norges Bank acquired a new stake in Signet Jewelers in the 4th quarter valued at about $52,976,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Signet Jewelers by 5.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock valued at $303,000 after buying an additional 156 shares during the period.

Signet Jewelers Company Profile

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.