Signet Jewelers (NYSE:SIG) Upgraded to Neutral by Smith Barney Citigroup


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Signet Jewelers (NYSE:SIG) was upgraded by equities research analysts at Smith Barney Citigroup from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

Several other analysts also recently issued reports on the stock. Northcoast Research raised shares of Signet Jewelers from a “neutral” rating to a “buy” rating in a research report on Friday, January 8th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Signet Jewelers from a “sell” rating to a “neutral” rating and increased their price objective for the company from $17.00 to $40.00 in a research report on Tuesday. BidaskClub raised shares of Signet Jewelers from a “hold” rating to a “buy” rating in a research report on Thursday, January 7th. Finally, Telsey Advisory Group increased their price objective on shares of Signet Jewelers from $33.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday. Six investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $26.00.

SIG opened at $39.01 on Tuesday. The firm has a 50 day moving average price of $29.58 and a 200 day moving average price of $20.78. The company has a market cap of $2.04 billion, a PE ratio of -11.97 and a beta of 2.67. Signet Jewelers has a 1 year low of $5.60 and a 1 year high of $42.91. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.11 and a current ratio of 2.58.

Signet Jewelers (NYSE:SIG) last issued its quarterly earnings data on Wednesday, December 2nd. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.66) by $0.77. Signet Jewelers had a negative net margin of 2.37% and a positive return on equity of 5.87%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company earned ($0.76) earnings per share. Signet Jewelers’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts predict that Signet Jewelers will post -0.48 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in Signet Jewelers during the third quarter worth $72,000. Federated Hermes Inc. lifted its stake in Signet Jewelers by 388.7% during the third quarter. Federated Hermes Inc. now owns 4,428 shares of the company’s stock worth $83,000 after purchasing an additional 3,522 shares during the last quarter. JBF Capital Inc. bought a new position in Signet Jewelers during the third quarter worth $94,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Signet Jewelers by 71.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,666 shares of the company’s stock worth $106,000 after purchasing an additional 2,359 shares during the last quarter. Finally, Advisor Group Holdings Inc. lifted its stake in Signet Jewelers by 151.1% during the second quarter. Advisor Group Holdings Inc. now owns 11,820 shares of the company’s stock worth $121,000 after purchasing an additional 7,113 shares during the last quarter.

Signet Jewelers Company Profile

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. As of February 01, 2020, it operated 3,208 stores and kiosks. The company operates through three segments: North America, International, and Other. The North America segment operates jewelry 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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