Wall Street analysts forecast that Signet Jewelers Limited (NYSE:SIG) will report $1.34 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Signet Jewelers Limited’s earnings, with the lowest sales estimate coming in at $1.32 billion and the highest estimate coming in at $1.35 billion. Signet Jewelers Limited reported sales of $1.37 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 2.2%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, August 24th.
On average, analysts expect that Signet Jewelers Limited will report full-year sales of $1.34 billion for the current year, with estimates ranging from $6.18 billion to $6.22 billion. For the next year, analysts expect that the firm will report sales of $6.14 billion per share, with estimates ranging from $6.11 billion to $6.20 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Signet Jewelers Limited.
Signet Jewelers Limited (NYSE:SIG) last announced its quarterly earnings results on Thursday, May 25th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.66 by $0.63. Signet Jewelers Limited had a net margin of 7.46% and a return on equity of 19.20%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the business posted $1.95 EPS. Signet Jewelers Limited’s revenue for the quarter was down 11.1% compared to the same quarter last year.
A number of equities analysts have commented on the stock. BidaskClub upgraded shares of Signet Jewelers Limited from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Instinet restated a “buy” rating and issued a $70.00 price target on shares of Signet Jewelers Limited in a research report on Wednesday, June 21st. Bank of America Corporation restated a “buy” rating and issued a $75.00 price target on shares of Signet Jewelers Limited in a research report on Wednesday, June 21st. Cowen and Company restated a “market perform” rating and issued a $54.00 price target on shares of Signet Jewelers Limited in a research report on Friday, June 9th. Finally, Nomura set a $70.00 price target on shares of Signet Jewelers Limited and gave the company a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $77.88.
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Shares of Signet Jewelers Limited (SIG) traded down 2.48% during midday trading on Friday, hitting $57.11. 1,791,000 shares of the company’s stock traded hands. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 9.07 and a beta of 1.00. The company has a 50 day moving average price of $58.65 and a 200 day moving average price of $67.41. Signet Jewelers Limited has a 1-year low of $46.09 and a 1-year high of $101.46.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Friday, July 28th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Wednesday, July 26th. Signet Jewelers Limited’s dividend payout ratio (DPR) is presently 19.97%.
In related news, Director H. Todd Stitzer purchased 2,090 shares of Signet Jewelers Limited stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $47.91 per share, for a total transaction of $100,131.90. Following the completion of the acquisition, the director now directly owns 16,823 shares of the company’s stock, valued at $805,989.93. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Signet Jewelers Limited by 3,088.1% in the first quarter. BlackRock Inc. now owns 4,143,731 shares of the company’s stock valued at $287,037,000 after buying an additional 4,013,758 shares during the period. Causeway Capital Management LLC boosted its position in Signet Jewelers Limited by 61.3% in the first quarter. Causeway Capital Management LLC now owns 2,439,144 shares of the company’s stock valued at $194,106,000 after buying an additional 927,355 shares during the period. Clearbridge Investments LLC boosted its position in Signet Jewelers Limited by 173.4% in the first quarter. Clearbridge Investments LLC now owns 1,295,909 shares of the company’s stock valued at $89,768,000 after buying an additional 821,914 shares during the period. Investec Asset Management LTD boosted its position in Signet Jewelers Limited by 67.8% in the first quarter. Investec Asset Management LTD now owns 1,667,622 shares of the company’s stock valued at $115,516,000 after buying an additional 674,101 shares during the period. Finally, SRS Investment Management LLC boosted its position in Signet Jewelers Limited by 54.2% in the first quarter. SRS Investment Management LLC now owns 1,817,103 shares of the company’s stock valued at $125,871,000 after buying an additional 638,954 shares during the period.
About Signet Jewelers Limited
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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