UBS Group Issues Positive Forecast for Signet Jewelers (NYSE:SIG) Stock Price

Signet Jewelers (NYSE:SIG - Free Report) had its target price lifted by UBS Group from $85.00 to $89.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on the company. Telsey Advisory Group reissued a "market perform" rating and set a $55.00 price target on shares of Signet Jewelers in a report on Wednesday, March 19th. StockNews.com downgraded Signet Jewelers from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Bank of America dropped their target price on Signet Jewelers from $95.00 to $65.00 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Finally, Wells Fargo & Company lowered their price objective on shares of Signet Jewelers from $110.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.60.

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Signet Jewelers Stock Performance

NYSE SIG traded up $3.31 on Thursday, reaching $61.37. The stock had a trading volume of 1,748,971 shares, compared to its average volume of 1,066,327. The stock has a market cap of $2.67 billion, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 3.43 and a beta of 2.20. Signet Jewelers has a 12-month low of $45.55 and a 12-month high of $112.06. The business's 50-day moving average price is $54.27 and its 200 day moving average price is $78.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.25 and a current ratio of 1.55.

Signet Jewelers (NYSE:SIG - Get Free Report) last released its quarterly earnings results on Wednesday, March 19th. The company reported $6.62 EPS for the quarter, beating the consensus estimate of $6.39 by $0.23. Signet Jewelers had a net margin of 8.57% and a return on equity of 28.69%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the firm earned $6.73 EPS. Signet Jewelers's revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities analysts expect that Signet Jewelers will post 8.73 earnings per share for the current year.

Signet Jewelers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be issued a $0.32 dividend. This is a boost from Signet Jewelers's previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, April 25th. Signet Jewelers's dividend payout ratio (DPR) is currently -168.42%.

Insider Buying and Selling

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $54.13, for a total transaction of $180,415.29. Following the sale, the director now directly owns 22,752 shares in the company, valued at approximately $1,231,565.76. The trade was a 12.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Signet Jewelers

A number of large investors have recently made changes to their positions in SIG. Dimensional Fund Advisors LP grew its position in Signet Jewelers by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,550,233 shares of the company's stock worth $205,830,000 after buying an additional 139,109 shares during the period. Cooper Creek Partners Management LLC boosted its stake in shares of Signet Jewelers by 1,046.3% during the 4th quarter. Cooper Creek Partners Management LLC now owns 1,889,413 shares of the company's stock worth $152,495,000 after acquiring an additional 1,724,592 shares in the last quarter. Anomaly Capital Management LP grew its holdings in shares of Signet Jewelers by 862.5% in the 4th quarter. Anomaly Capital Management LP now owns 1,762,523 shares of the company's stock worth $142,253,000 after acquiring an additional 1,579,410 shares during the period. State Street Corp increased its stake in Signet Jewelers by 1.0% in the 3rd quarter. State Street Corp now owns 1,756,075 shares of the company's stock valued at $181,122,000 after purchasing an additional 16,912 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Signet Jewelers by 18.9% during the fourth quarter. American Century Companies Inc. now owns 1,150,441 shares of the company's stock worth $92,852,000 after purchasing an additional 182,948 shares during the last quarter.

About Signet Jewelers

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.