Equities Analysts Issue Forecasts for Signet Jewelers Limited’s FY2019 Earnings (SIG)
Signet Jewelers Limited (NYSE:SIG) – Stock analysts at Northcoast Research cut their FY2019 earnings estimates for shares of Signet Jewelers in a research note issued to investors on Wednesday. Northcoast Research analyst K. Szafraniec now expects that the company will earn $7.30 per share for the year, down from their prior forecast of $7.60. Northcoast Research currently has a “Neutral” rating on the stock.
Signet Jewelers (NYSE:SIG) last posted its earnings results on Thursday, August 24th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.10 by $0.23. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.33 billion. Signet Jewelers had a net margin of 7.32% and a return on equity of 20.76%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share.
Several other equities research analysts also recently commented on SIG. BidaskClub raised shares of Signet Jewelers from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Signet Jewelers from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Royal Bank Of Canada restated a “buy” rating and set a $63.00 price target on shares of Signet Jewelers in a report on Thursday, August 17th. Needham & Company LLC set a $69.00 price target on shares of Signet Jewelers and gave the stock a “buy” rating in a report on Saturday, August 19th. Finally, Wells Fargo & Company set a $97.00 price target on shares of Signet Jewelers and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $67.47.
Signet Jewelers (NYSE SIG) traded down $3.21 during trading hours on Thursday, hitting $49.80. 3,760,899 shares of the stock traded hands, compared to its average volume of 3,032,333. The company has a current ratio of 2.63, a quick ratio of 1.14 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $3,204.98, a P/E ratio of 8.11, a PEG ratio of 1.13 and a beta of 1.03. Signet Jewelers has a one year low of $46.09 and a one year high of $99.19.
Several hedge funds have recently made changes to their positions in SIG. Dimensional Fund Advisors LP lifted its stake in shares of Signet Jewelers by 64.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,106,207 shares of the company’s stock valued at $69,960,000 after buying an additional 434,562 shares in the last quarter. FMR LLC lifted its stake in shares of Signet Jewelers by 59.5% during the 2nd quarter. FMR LLC now owns 1,159,117 shares of the company’s stock valued at $73,303,000 after buying an additional 432,507 shares in the last quarter. Sapience Investments LLC lifted its stake in shares of Signet Jewelers by 4,383.9% during the 2nd quarter. Sapience Investments LLC now owns 428,210 shares of the company’s stock valued at $27,080,000 after buying an additional 418,660 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Signet Jewelers by 30.7% during the 2nd quarter. Wells Fargo & Company MN now owns 1,699,103 shares of the company’s stock valued at $107,451,000 after buying an additional 399,070 shares in the last quarter. Finally, ARGA Investment Management LP lifted its stake in shares of Signet Jewelers by 7,204.6% during the 2nd quarter. ARGA Investment Management LP now owns 394,449 shares of the company’s stock valued at $24,945,000 after buying an additional 389,049 shares in the last quarter.
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Signet Jewelers Company Profile
Signet Jewelers Limited is a retailer of diamond jewelry. The Company’s segments include the Sterling Jewelers division; the Zale division, which consists of the Zale Jewelry and Piercing Pagoda segments; the UK Jewelry division, and Other. The Sterling Jewelers division’s stores operate in the United States principally as Kay Jewelers (Kay), Kay Jewelers Outlet, Jared The Galleria Of Jewelry (Jared) and Jared Vault.
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