Signet Jewelers Ltd. (NYSE:SIG) Expected to Announce Quarterly Sales of $1.34 Billion

Wall Street brokerages expect Signet Jewelers Ltd. (NYSE:SIG) to post $1.34 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Signet Jewelers’ earnings. The highest sales estimate is $1.35 billion and the lowest is $1.33 billion. Signet Jewelers posted sales of $1.42 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.6%. The firm is expected to report its next earnings results before the market opens on Thursday, September 5th.

On average, analysts expect that Signet Jewelers will report full year sales of $6.02 billion for the current financial year, with estimates ranging from $5.99 billion to $6.04 billion. For the next financial year, analysts anticipate that the business will post sales of $5.94 billion, with estimates ranging from $5.91 billion to $5.97 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Signet Jewelers.

Signet Jewelers (NYSE:SIG) last issued its earnings results on Thursday, June 6th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.32. Signet Jewelers had a negative net margin of 2.76% and a positive return on equity of 16.90%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business posted $0.10 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis.

SIG has been the topic of a number of research analyst reports. Nomura cut their target price on shares of Signet Jewelers from $28.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Telsey Advisory Group restated a “market perform” rating and issued a $22.00 target price (down previously from $28.00) on shares of Signet Jewelers in a research report on Monday, June 3rd. Bank of America cut their target price on shares of Signet Jewelers from $30.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, June 7th. Finally, Zacks Investment Research upgraded shares of Signet Jewelers from a “sell” rating to a “hold” rating and set a $15.00 target price on the stock in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $26.68.

Signet Jewelers stock traded down $0.29 during mid-day trading on Thursday, reaching $12.03. The company had a trading volume of 2,289,457 shares, compared to its average volume of 1,860,385. Signet Jewelers has a fifty-two week low of $11.51 and a fifty-two week high of $71.07. The company has a current ratio of 2.07, a quick ratio of 0.31 and a debt-to-equity ratio of 1.92. The company has a market cap of $620.55 million, a P/E ratio of 3.23, a P/E/G ratio of 0.61 and a beta of 0.93. The business has a fifty day simple moving average of $16.55 and a 200 day simple moving average of $21.65.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 2nd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 12.30%. The ex-dividend date of this dividend is Thursday, August 1st. Signet Jewelers’s payout ratio is currently 39.78%.

Hedge funds have recently added to or reduced their stakes in the company. CenterStar Asset Management LLC raised its stake in shares of Signet Jewelers by 136.0% during the second quarter. CenterStar Asset Management LLC now owns 1,660 shares of the company’s stock valued at $29,000 after acquiring an additional 6,270 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Signet Jewelers by 105.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,951 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Signet Jewelers during the second quarter valued at $43,000. Point72 Hong Kong Ltd raised its stake in shares of Signet Jewelers by 77.2% during the second quarter. Point72 Hong Kong Ltd now owns 4,817 shares of the company’s stock valued at $86,000 after acquiring an additional 2,098 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Signet Jewelers by 60.9% during the first quarter. Nisa Investment Advisors LLC now owns 3,700 shares of the company’s stock valued at $100,000 after acquiring an additional 1,400 shares during the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.

Signet Jewelers Company Profile

Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. As of February 02, 2019, it operated 3,334 stores and kiosks. The company operates through three segments: North America, International, and Other. The North America segment operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, Peoples Jewellers, Gordon's Jewelers, and Mappins Jewellers regional banners; and JamesAllen.com, an online jewelry retailer Website.

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

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