Signet Jewelers Ltd [NYSE: SIG] stock went on a downward path that fall over -12.08% on Wednesday, amounting to a one-week price decrease of less than -8.97%. The company report on March 20, 2024 at 7:55 AM that SIGNET BOARD CHAIR SUCCESSION.
Helen McCluskey appointed as Board Chair effective upon the conclusion of H. Todd Stitzer twelve-year tenure at the June 2024 Annual General Meeting of Shareholders.
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Signet Jewelers Limited (“Signet” or the “Company”) (NYSE:SIG), the world’s largest retailer of diamond jewelry, today announced that H. Todd Stitzer would be completing his term as Chair and member of Signet’s Board of Directors (“Board”) in June, effective immediately following Signet’s Annual General Meeting. The Company’s Director Tenure Policy includes a 12-year term limit which Mr. Stitzer will meet as of the 2024 Annual General Meeting.
Over the last 12 months, SIG stock rose by 22.28%. The one-year Signet Jewelers Ltd stock forecast points to a potential upside of 22.08. The average equity rating for SIG stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.99 billion, with 44.90 million shares outstanding and 42.40 million shares in the current float. Compared to the average trading volume of 600.44K shares, SIG stock reached a trading volume of 3943581 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Signet Jewelers Ltd [SIG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SIG shares is $115.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SIG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Telsey Advisory Group have made an estimate for Signet Jewelers Ltd shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on March 15, 2024. While these analysts kept the previous recommendation, Citigroup dropped their target price from $93 to $119. The new note on the price target was released on December 06, 2023, representing the official price target for Signet Jewelers Ltd stock. Previously, the target price had yet another raise from $82 to $90, while Telsey Advisory Group kept a Market Perform rating on SIG stock. On September 01, 2023, analysts increased their price target for SIG shares from 71 to 82.
The Average True Range (ATR) for Signet Jewelers Ltd is set at 4.14, with the Price to Sales ratio for SIG stock in the period of the last 12 months amounting to 0.54. The Price to Book ratio for the last quarter was 2.54, with the Price to Cash per share for the same quarter was set at 14.53. Price to Free Cash Flow for SIG in the course of the last twelve months was 6.50 with Quick ratio for the last quarter at 0.48.
SIG Stock Performance Analysis:
Signet Jewelers Ltd [SIG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.97. With this latest performance, SIG shares dropped by -16.19% in over the last four-week period, additionally plugging by 20.07% over the last 6 months – not to mention a rise of 22.28% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SIG stock in for the last two-week period is set at 33.99, with the RSI for the last a single of trading hit 29.32, and the three-weeks RSI is set at 38.07 for Signet Jewelers Ltd [SIG]. The present Moving Average for the last 50 days of trading for this stock 100.44, while it was recorded at 98.17 for the last single week of trading, and 82.79 for the last 200 days.
Insight into Signet Jewelers Ltd Fundamentals:
Signet Jewelers Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.48 and a Current Ratio set at 1.60.
SIG Stock EPS
With the latest financial reports released by the company, Signet Jewelers Ltd posted 5.52/share EPS, while the average EPS was predicted by analysts to be reported at 5.43/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SIG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Signet Jewelers Ltd go to 7.00%.
Signet Jewelers Ltd [SIG] Institutonal Ownership Details
The top three institutional holders of SIG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SIG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SIG stock with ownership which is approximately 5.8325%.
