Signet Jewelers Ltd. (SIG) is Reiterated by RBC Capital Mkts to Outperform, Lowers Price Target to $ 120

Signet Jewelers Ltd. (SIG) was Reiterated by RBC Capital Mkts to “Outperform” while Lowering the Price Target of the company shares to $ 120 from a previous price target of $140 . RBC Capital Mkts advised their investors in a research report released on Jun 28, 2016.

Many Wall Street Analysts have commented on Signet Jewelers Ltd.. Shares were Reiterated by Telsey Advisory Group on May 27, 2016 to “Outperform” and Lowered the Price Target to $ 140 from a previous price target of $165 .Signet Jewelers Ltd. was Downgraded by Goldman to ” Neutral” on May 27, 2016.

On the company’s financial health, Signet Jewelers Ltd. reported $1.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 26, 2016. Analyst had a consensus of $1.94. The company had revenue of $1583.10 million for the quarter, compared to analysts expectations of $1607.67 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS.

Signet Jewelers Ltd. closed down -2.76 points or -3.37% at $79.26 with 46,21,252 shares getting traded on Monday. Post opening the session at $81.16, the shares hit an intraday low of $77 and an intraday high of $81.59 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 23, 2016, Uta Werner (Chief Strategy Officer) purchased 400 shares at $84.46 per share price. According to the SEC, on Jun 16, 2016, Steven J. Becker (Chief Human Resources Officer) purchased 475 shares at $82.78 per share price. On Jun 14, 2016, Judith Lynn Dennison (Chief Legal, Corp Affairs) purchased 500 shares at $82.35 per share price, according to the Form-4 filing with the securities and exchange commission.

Signet Jewelers Limited is a retailer of jewelry watches and associated services in the United States Canada and the United Kingdom. The Company manages its business through four segments: the Sterling Jewelers division the UK Jewelry division the Zale division which consists of Zale Jewelry and Piercing Pagoda and the Other segment. The Other segment includes subsidiaries involved in purchasing and conversion of rough diamonds to polished stones and unallocated corporate administrative functions. The Company operates retail jewelry stores in real estate formats including mall-based free-standing strip center and outlet store locations. The Company operated approximately 3579 stores and kiosks across 4.8 million square feet of retail space.

Signet Jewelers Ltd.

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