Signet Jewelers (NYSE:SIG) Announces Quarterly Earnings Results

Signet Jewelers (NYSE:SIG) released its earnings results on Thursday. The company reported $6.25 EPS for the quarter, topping the consensus estimate of $5.87 by $0.38, Briefing.com reports. Signet Jewelers had a net margin of 2.13% and a return on equity of 24.44%. Signet Jewelers’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.62 earnings per share.

Signet Jewelers Trading Down 7.2%

SIG stock opened at $78.85 on Thursday. The stock has a 50-day moving average price of $91.88 and a two-hundred day moving average price of $93.43. The company has a market cap of $3.21 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 0.92 and a beta of 1.25. Signet Jewelers has a 12-month low of $49.99 and a 12-month high of $110.20.

Institutional Trading of Signet Jewelers

A number of institutional investors have recently modified their holdings of SIG. Brown Brothers Harriman & Co. acquired a new stake in Signet Jewelers during the 4th quarter worth approximately $39,000. Northwestern Mutual Wealth Management Co. grew its stake in Signet Jewelers by 111.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 633 shares of the company’s stock worth $52,000 after buying an additional 333 shares during the period. EverSource Wealth Advisors LLC grew its stake in Signet Jewelers by 171.2% during the second quarter. EverSource Wealth Advisors LLC now owns 678 shares of the company’s stock worth $54,000 after buying an additional 428 shares during the period. State of Wyoming acquired a new stake in shares of Signet Jewelers in the second quarter worth $69,000. Finally, Transamerica Financial Advisors LLC increased its position in shares of Signet Jewelers by 2,084.6% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,420 shares of the company’s stock worth $118,000 after acquiring an additional 1,355 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen raised Signet Jewelers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Signet Jewelers in a research report on Monday, March 9th. Wells Fargo & Company decreased their price target on Signet Jewelers from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 3rd. The Goldman Sachs Group raised shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Signet Jewelers in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Signet Jewelers has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Signet Jewelers Company Profile

Signet Jewelers Ltd is the world’s largest retailer of diamond jewelry, operating a diversified network of retail stores across the United States, Canada, the United Kingdom and Ireland. Its portfolio includes well-established banners such as Kay Jewelers, Zales, Jared The Galleria of Jewelry, H.Samuel, Ernest Jones, Peoples and Piercing Pagoda, offering customers a range of shopping environments from suburban malls to high-street locations.

The company’s product assortment encompasses engagement rings, wedding bands, fine fashion jewelry and timepieces, complemented by services including jewelry cleaning, repairs, appraisals and extended care plans.