Analysts Anticipate Signet Jewelers Limited (SIG) Will Post Quarterly Sales of $2.34 Billion
Wall Street brokerages expect Signet Jewelers Limited (NYSE:SIG) to announce $2.34 billion in sales for the current quarter, according to Zacks. Three analysts have made estimates for Signet Jewelers’ earnings, with the lowest sales estimate coming in at $2.29 billion and the highest estimate coming in at $2.42 billion. Signet Jewelers reported sales of $2.27 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The firm is expected to issue its next earnings report on Thursday, March 8th.
On average, analysts expect that Signet Jewelers will report full-year sales of $2.34 billion for the current financial year, with estimates ranging from $6.26 billion to $6.41 billion. For the next financial year, analysts forecast that the company will post sales of $6.31 billion per share, with estimates ranging from $6.25 billion to $6.37 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Signet Jewelers.
A number of brokerages have recently issued reports on SIG. Cowen reaffirmed a “market perform” rating and set a $67.00 price target (up from $61.00) on shares of Signet Jewelers in a report on Tuesday, September 12th. Needham & Company LLC set a $69.00 price target on Signet Jewelers and gave the company a “buy” rating in a report on Saturday, August 19th. Royal Bank of Canada reaffirmed a “buy” rating and set a $63.00 price target on shares of Signet Jewelers in a report on Thursday, August 17th. Telsey Advisory Group upped their price target on Signet Jewelers from $60.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, August 25th. Finally, Instinet reaffirmed a “buy” rating and set a $73.00 price target (up from $70.00) on shares of Signet Jewelers in a report on Monday, August 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $65.48.
Shares of Signet Jewelers (NYSE:SIG) traded down $0.63 during trading hours on Friday, hitting $53.26. The stock had a trading volume of 1,440,100 shares, compared to its average volume of 1,915,201. The company has a market capitalization of $3,261.21, a P/E ratio of 8.24, a P/E/G ratio of 1.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.76 and a current ratio of 2.63. Signet Jewelers has a 1 year low of $46.09 and a 1 year high of $96.75.
A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in Signet Jewelers by 64.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,106,207 shares of the company’s stock worth $69,960,000 after buying an additional 434,562 shares in the last quarter. FMR LLC increased its position in Signet Jewelers by 59.5% in the second quarter. FMR LLC now owns 1,159,117 shares of the company’s stock worth $73,303,000 after buying an additional 432,507 shares in the last quarter. Sapience Investments LLC increased its position in Signet Jewelers by 4,383.9% in the second quarter. Sapience Investments LLC now owns 428,210 shares of the company’s stock worth $27,080,000 after buying an additional 418,660 shares in the last quarter. Wells Fargo & Company MN increased its position in Signet Jewelers by 30.7% in the second quarter. Wells Fargo & Company MN now owns 1,699,103 shares of the company’s stock worth $107,451,000 after buying an additional 399,070 shares in the last quarter. Finally, ARGA Investment Management LP increased its position in Signet Jewelers by 7,204.6% in the second quarter. ARGA Investment Management LP now owns 394,449 shares of the company’s stock worth $24,945,000 after buying an additional 389,049 shares in the last quarter.
About Signet Jewelers
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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