Signet Jewelers Reaches New 52-Week High Following Better-Than-Expected Earnings (SIG)
Signet Jewelers (NYSE:SIG)’s share price reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement, AmericanBankingNews.com reports. The company traded as high as $117.42 and last traded at $114.51, with a volume of 2,358,096 shares. The stock had previously closed at $108.03.
The company reported $1.00 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.99 by $0.01. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company posted $0.84 earnings per share. Signet Jewelers’s revenue was up 39.3% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, November 25th. Shareholders of record on Friday, October 31st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, October 29th.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Signet Jewelers in a research note on Tuesday, August 19th. Separately, analysts at Nomura reiterated a “buy” rating on shares of Signet Jewelers in a research note on Monday, August 4th. Finally, analysts at Zacks upgraded shares of Signet Jewelers from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 23rd. They now have a $113.20 price target on the stock. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $117.89.
The stock’s 50-day moving average is $106.8 and its 200-day moving average is $102.8. The company has a market cap of $9.197 billion and a P/E ratio of 23.33.
Signet Jewelers Limited (NYSE:SIG) is a specialty retail jeweler by sales in the United States and United Kingdom, and also has stores in the Republic of Ireland and Channel Islands.