Zacks: Analysts Anticipate Signet Jewelers Ltd. (NYSE:SIG) Will Post Quarterly Sales of $1.34 Billion

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Analysts expect Signet Jewelers Ltd. (NYSE:SIG) to report $1.34 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Signet Jewelers’ earnings, with estimates ranging from $1.33 billion to $1.35 billion. Signet Jewelers reported sales of $1.42 billion during the same quarter last year, which indicates a negative year over year growth rate of 5.6%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, September 5th.

According to Zacks, analysts expect that Signet Jewelers will report full year sales of $6.02 billion for the current year, with estimates ranging from $5.99 billion to $6.04 billion. For the next year, analysts forecast that the company will post sales of $5.94 billion, with estimates ranging from $5.91 billion to $5.97 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Signet Jewelers.

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

SIG has been the subject of a number of research reports. Bank of America dropped their price objective on Signet Jewelers from $30.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Zacks Investment Research raised Signet Jewelers from a “sell” rating to a “hold” rating and set a $15.00 price objective for the company in a research note on Monday, August 12th. Nomura dropped their price objective on Signet Jewelers from $28.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $22.00 price objective (down from $28.00) on shares of Signet Jewelers in a research note on Monday, June 3rd. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $26.68.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIG. Norges Bank acquired a new position in Signet Jewelers during the 4th quarter worth $25,113,000. Canada Pension Plan Investment Board grew its stake in Signet Jewelers by 65.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,119,035 shares of the company’s stock worth $20,008,000 after purchasing an additional 444,017 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Signet Jewelers by 89.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 741,588 shares of the company’s stock worth $13,261,000 after purchasing an additional 349,327 shares in the last quarter. Atria Investments LLC acquired a new position in Signet Jewelers during the 2nd quarter worth $71,822,000. Finally, Vanguard Group Inc. grew its stake in Signet Jewelers by 4.2% during the 2nd quarter. Vanguard Group Inc. now owns 6,121,445 shares of the company’s stock worth $109,453,000 after purchasing an additional 243,959 shares in the last quarter.

Shares of NYSE SIG traded up $0.21 during trading on Thursday, reaching $11.89. The stock had a trading volume of 2,058,700 shares, compared to its average volume of 1,925,386. Signet Jewelers has a fifty-two week low of $11.51 and a fifty-two week high of $71.07. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.31 and a current ratio of 2.07. The business’s 50-day moving average price is $16.90 and its 200-day moving average price is $21.80. The company has a market cap of $609.59 million, a P/E ratio of 3.20, a PEG ratio of 0.60 and a beta of 0.93.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 2nd will be paid a dividend of $0.37 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.48 annualized dividend and a yield of 12.45%. Signet Jewelers’s payout ratio is 39.78%.

About Signet Jewelers

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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