Brokerages Anticipate Signet Jewelers Ltd. (SIG) Will Post Quarterly Sales of $1.17 Billion

Wall Street analysts expect Signet Jewelers Ltd. (NYSE:SIG) to announce $1.17 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Signet Jewelers’ earnings, with the highest sales estimate coming in at $1.18 billion and the lowest estimate coming in at $1.17 billion. Signet Jewelers posted sales of $1.16 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 0.9%. The company is scheduled to issue its next earnings results before the market opens on Thursday, December 6th.

On average, analysts expect that Signet Jewelers will report full year sales of $6.26 billion for the current fiscal year, with estimates ranging from $6.24 billion to $6.28 billion. For the next financial year, analysts anticipate that the business will report sales of $6.17 billion, with estimates ranging from $6.16 billion to $6.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Signet Jewelers.

Signet Jewelers (NYSE:SIG) last released its quarterly earnings results on Thursday, August 30th. The company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.32. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.34 billion. Signet Jewelers had a positive return on equity of 17.52% and a negative net margin of 2.84%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $1.33 earnings per share.

Several analysts have issued reports on SIG shares. Zacks Investment Research raised shares of Signet Jewelers from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Tuesday, August 21st. TheStreet raised shares of Signet Jewelers from a “d+” rating to a “c-” rating in a research note on Tuesday, August 21st. Wells Fargo & Co reissued a “hold” rating and issued a $65.00 price objective (up previously from $50.00) on shares of Signet Jewelers in a research note on Thursday, August 30th. Telsey Advisory Group reissued a “market perform” rating and issued a $69.00 price objective (up previously from $63.00) on shares of Signet Jewelers in a research note on Friday, August 31st. Finally, Nomura downgraded shares of Signet Jewelers from a “buy” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research note on Tuesday, July 31st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $55.13.

NYSE SIG traded down $2.16 during trading on Tuesday, hitting $50.96. The stock had a trading volume of 1,079,730 shares, compared to its average volume of 2,096,507. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.69 and a quick ratio of 0.47. The company has a market cap of $2.94 billion, a P/E ratio of 7.83, a PEG ratio of 2.07 and a beta of 0.91. Signet Jewelers has a one year low of $33.11 and a one year high of $71.07.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 2nd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, November 1st. Signet Jewelers’s dividend payout ratio is presently 22.73%.

Institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC bought a new stake in shares of Signet Jewelers during the second quarter valued at approximately $112,000. Itau Unibanco Holding S.A. bought a new position in Signet Jewelers in the second quarter worth approximately $132,000. NuWave Investment Management LLC raised its stake in Signet Jewelers by 140.1% in the third quarter. NuWave Investment Management LLC now owns 2,840 shares of the company’s stock worth $187,000 after buying an additional 1,657 shares in the last quarter. St. Johns Investment Management Company LLC bought a new position in Signet Jewelers in the second quarter worth approximately $193,000. Finally, MUFG Securities EMEA plc bought a new position in Signet Jewelers in the second quarter worth approximately $206,000.

Signet Jewelers Company Profile

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands, as well as JamesAllen.com, an online jewelry retailer Website.

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Earnings History and Estimates for Signet Jewelers (NYSE:SIG)

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