Signet Jewelers (NYSE:SIG) Downgraded to Strong Sell at ValuEngine

ValuEngine cut shares of Signet Jewelers (NYSE:SIG) from a sell rating to a strong sell rating in a research note published on Saturday, ValuEngine reports.

Other analysts also recently issued research reports about the stock. Telsey Advisory Group raised their price objective on shares of Signet Jewelers from $20.00 to $32.00 and gave the stock a market perform rating in a research note on Friday, January 17th. Citigroup raised their price objective on shares of Signet Jewelers from $13.00 to $22.00 and gave the stock a sell rating in a research note on Friday, January 17th. Finally, Wells Fargo & Co raised their price objective on shares of Signet Jewelers from $12.00 to $18.00 and gave the stock an underweight rating in a research note on Friday, January 17th. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Signet Jewelers currently has a consensus rating of Hold and a consensus target price of $20.67.

Shares of NYSE SIG opened at $28.12 on Friday. The company has a debt-to-equity ratio of 2.13, a current ratio of 2.12 and a quick ratio of 0.30. The company has a market cap of $1.55 billion, a P/E ratio of -6.54, a PEG ratio of 1.25 and a beta of 1.09. Signet Jewelers has a 1 year low of $10.40 and a 1 year high of $31.44. The firm has a 50-day simple moving average of $21.22 and a two-hundred day simple moving average of $17.35.

Signet Jewelers (NYSE:SIG) last announced its quarterly earnings data on Thursday, December 5th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.07) by $0.31. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.14 billion. Signet Jewelers had a negative net margin of 3.09% and a positive return on equity of 20.27%. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.06) earnings per share. As a group, equities research analysts expect that Signet Jewelers will post 3.64 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, January 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date is Thursday, January 30th. Signet Jewelers’s dividend payout ratio (DPR) is presently 39.78%.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Signet Jewelers by 4.2% during the second quarter. Vanguard Group Inc. now owns 6,121,445 shares of the company’s stock worth $109,453,000 after acquiring an additional 243,959 shares during the period. Northern Trust Corp increased its position in shares of Signet Jewelers by 4.4% during the second quarter. Northern Trust Corp now owns 840,245 shares of the company’s stock worth $15,024,000 after acquiring an additional 35,447 shares during the period. Squarepoint Ops LLC increased its position in shares of Signet Jewelers by 112.7% during the third quarter. Squarepoint Ops LLC now owns 769,203 shares of the company’s stock worth $12,892,000 after acquiring an additional 407,487 shares during the period. Maverick Capital Ltd. increased its position in shares of Signet Jewelers by 138.3% during the third quarter. Maverick Capital Ltd. now owns 761,829 shares of the company’s stock worth $12,768,000 after acquiring an additional 442,109 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Signet Jewelers by 4.9% during the second quarter. Bank of New York Mellon Corp now owns 654,537 shares of the company’s stock worth $11,703,000 after acquiring an additional 30,645 shares during the period.

About Signet Jewelers

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. As of February 02, 2019, it operated 3,334 stores and kiosks. The company operates through three segments: North America, International, and Other. The North America segment operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, Peoples Jewellers, Gordon's Jewelers, and Mappins Jewellers regional banners; and JamesAllen.com, an online jewelry retailer Website.

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Analyst Recommendations for Signet Jewelers (NYSE:SIG)

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