Signet Jewelers (SIG) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

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Signet Jewelers (NYSE:SIG) issued its quarterly earnings data on Thursday. The company reported ($1.06) earnings per share for the quarter, topping the consensus estimate of ($1.08) by $0.02, MarketWatch Earnings reports. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Signet Jewelers had a negative net margin of 3.23% and a positive return on equity of 15.90%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS.

SIG stock opened at $38.55 on Friday. Signet Jewelers has a 12 month low of $33.11 and a 12 month high of $71.07. The firm has a market capitalization of $2.13 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 1.48 and a beta of 0.89. The company has a quick ratio of 0.47, a current ratio of 2.20 and a debt-to-equity ratio of 0.49.

Several analysts have recently weighed in on SIG shares. Zacks Investment Research downgraded shares of Signet Jewelers from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Citigroup upgraded shares of Signet Jewelers from a “sell” rating to a “neutral” rating in a research report on Friday, October 26th. Wells Fargo & Co restated a “hold” rating and set a $65.00 price objective (up previously from $50.00) on shares of Signet Jewelers in a research report on Thursday, August 30th. ValuEngine upgraded shares of Signet Jewelers from a “strong sell” rating to a “sell” rating in a research report on Friday, August 10th. Finally, TheStreet upgraded shares of Signet Jewelers from a “d+” rating to a “c-” rating in a research report on Tuesday, August 21st. One research 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. Signet Jewelers has an average rating of “Hold” and a consensus price target of $54.06.

A number of hedge funds have recently added to or reduced their stakes in SIG. Principal Financial Group Inc. raised its position in Signet Jewelers by 178.4% in the 1st quarter. Principal Financial Group Inc. now owns 267,486 shares of the company’s stock valued at $10,303,000 after purchasing an additional 171,421 shares during the last quarter. Bank of Montreal Can purchased a new stake in Signet Jewelers in the 2nd quarter valued at $1,332,000. Nisa Investment Advisors LLC purchased a new stake in Signet Jewelers in the 2nd quarter valued at $112,000. Ironwood Wealth Management LLC. raised its position in Signet Jewelers by 11.5% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 24,299 shares of the company’s stock valued at $1,355,000 after purchasing an additional 2,514 shares during the last quarter. Finally, Aperio Group LLC raised its position in Signet Jewelers by 108.9% in the 2nd quarter. Aperio Group LLC now owns 56,858 shares of the company’s stock valued at $3,170,000 after purchasing an additional 29,646 shares during the last quarter.

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About Signet Jewelers

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.

See Also: Preferred Stock

Earnings History for Signet Jewelers (NYSE:SIG)

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