Signet Jewelers Limited (NYSE: SIG) stock jumped 0.50% on Monday to $76.70 against a previous-day closing price of $76.32. With 0.67 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.78 million shares. During the session, the Luxury Goods company that operates in wider Consumer Cyclical sector, reached to the highest price of $77.43 whereas the lowest price it dropped to was $75.39. The 52-week range on SIG shows that it touched its highest point at $83.42 and its lowest point at $51.29 during that stretch. It currently has a 1-year price target of $88.00. With its current market cap of 3.51 billion, SIG has annualized dividend of $0.92 while the current yield stands at 1.20%. Beta for the stock currently stands at 2.14.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SIG was up-trending over the past week, with a rise of 2.35%, but this was up by 2.84% over a month. Three-month performance surged to 27.07% while six-month performance rose 4.64%. The stock gained 32.04% in the past year, while it has gained 12.79% so far this year. A look at the trailing 12-month EPS for SIG yields 6.84 with Next year EPS estimates of 10.36. For the next quarter, that number is 0.19. This implies an EPS growth rate of -48.30% for this year and 6.05% for next year. EPS is expected to grow by 7.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 1.00%.
Float and Shares Shorts:
At present, 45.20 million SIG shares are outstanding with a float of 43.08 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.44 million, which was 9.89% higher than short shares on Jul 30, 2023. In addition to Ms. Virginia C. Drosos as the firm’s CEO & Director, Ms. Jamie L. Singleton serves as its Group Pres & Chief Consumer Officer.
Through their ownership of 104.77% of SIG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.01% of SIG, in contrast to 60.39% held by mutual funds. Shares owned by individuals account for 46.22%. As the largest shareholder in SIG with 19.21% of the stake, Select Equity Group LP holds 8,720,978 shares worth 8,720,978. A second-largest stockholder of SIG, BlackRock Fund Advisors, holds 6,707,114 shares, controlling over 14.77% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in SIG, holding 5,064,438 shares or 11.15% stake. With a 7.01% stake in SIG, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 3,184,276 shares are owned by the mutual fund manager. The Contrarius ICAV – Global Equity F, which owns about 3.87% of SIG stock, is the second-largest Mutual Fund holder. It holds 1,757,618 shares valued at 131.82 million. Vanguard Total Stock Market ETF holds 2.98% of the stake in SIG, owning 1,353,889 shares worth 101.54 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SIG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SIG analysts setting a high price target of $100.00 and a low target of $82.00, the average target price over the next 12 months is $88.00. Based on these targets, SIG could surge 30.38% to reach the target high and rise by 6.91% to reach the target low. Reaching the average price target will result in a growth of 14.73% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded SIG stock several times over the past three months with 0 Buys and 25 Sells. In these transactions, 0 shares were bought while 173,799 shares were sold. The number of buy transactions has increased to 36 while that of sell transactions has risen to 80 over the past year. The total number of shares bought during that period was 477,681 while 752,773 shares were sold.