$1.34 Billion in Sales Expected for Signet Jewelers Limited (NYSE:SIG) This Quarter
Brokerages expect that Signet Jewelers Limited (NYSE:SIG) will announce $1.34 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Signet Jewelers Limited’s earnings. The lowest sales estimate is $1.32 billion and the highest is $1.35 billion. Signet Jewelers Limited reported sales of $1.37 billion during the same quarter last year, which would suggest a negative year over year growth rate of 2.2%. The company is scheduled to issue 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 anticipate that the firm will report sales of $6.14 billion per share, with estimates ranging from $6.11 billion to $6.20 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Signet Jewelers Limited.
Signet Jewelers Limited (NYSE:SIG) last released its quarterly earnings data on Thursday, May 25th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business earned $1.95 earnings per share. The business’s quarterly revenue was down 11.1% on a year-over-year basis.
Several equities analysts have recently issued reports on the company. BidaskClub raised Signet Jewelers Limited from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Zacks Investment Research raised Signet Jewelers Limited from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Instinet reaffirmed a “buy” rating and issued a $70.00 target price on shares of Signet Jewelers Limited in a report on Wednesday, June 21st. Bank of America Corporation reaffirmed a “buy” rating and issued a $75.00 target price on shares of Signet Jewelers Limited in a report on Wednesday, June 21st. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $54.00 target price on shares of Signet Jewelers Limited in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $77.35.
Shares of Signet Jewelers Limited (NYSE SIG) opened at 60.86 on Friday. The firm has a market capitalization of $4.16 billion, a PE ratio of 9.67 and a beta of 1.00. The stock has a 50 day moving average price of $60.43 and a 200-day moving average price of $65.55. Signet Jewelers Limited has a 52-week low of $46.09 and a 52-week high of $101.46.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Friday, July 28th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, July 26th. This represents a $1.24 annualized dividend and a dividend yield of 2.04%. Signet Jewelers Limited’s dividend payout ratio is currently 19.97%.
In related news, Director H. Todd Stitzer bought 2,090 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were purchased at an average price of $47.91 per share, for a total transaction of $100,131.90. Following the completion of the transaction, the director now directly owns 16,823 shares in the company, valued at approximately $805,989.93. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.52% of the company’s stock.
Several large investors have recently modified their holdings of the company. Alps Advisors Inc. raised its stake in Signet Jewelers Limited by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,060 shares of the company’s stock valued at $446,000 after buying an additional 19 shares during the period. Meeder Asset Management Inc. raised its stake in Signet Jewelers Limited by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 8,297 shares of the company’s stock valued at $525,000 after buying an additional 46 shares during the period. Nordea Investment Management AB raised its stake in Signet Jewelers Limited by 2.5% in the first quarter. Nordea Investment Management AB now owns 2,699 shares of the company’s stock valued at $187,000 after buying an additional 65 shares during the period. Gateway Investment Advisers LLC raised its stake in Signet Jewelers Limited by 1.8% in the second quarter. Gateway Investment Advisers LLC now owns 5,201 shares of the company’s stock valued at $329,000 after buying an additional 91 shares during the period. Finally, State Treasurer State of Michigan raised its stake in Signet Jewelers Limited by 0.4% in the first quarter. State Treasurer State of Michigan now owns 22,844 shares of the company’s stock valued at $1,582,000 after buying an additional 100 shares during the period.
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Signet Jewelers Limited Company Profile
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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