Signet Jewelers Limited (SIG) Forecasted to Post Q2 2018 Earnings of $0.95 Per Share
Signet Jewelers Limited (NYSE:SIG) – Research analysts at Northcoast Research reduced their Q2 2018 EPS estimates for Signet Jewelers Limited in a research note issued to investors on Thursday. Northcoast Research analyst J. Stein now forecasts that the company will earn $0.95 per share for the quarter, down from their previous estimate of $1.00. Northcoast Research also issued estimates for Signet Jewelers Limited’s Q3 2018 earnings at $0.10 EPS, FY2018 earnings at $6.50 EPS, Q1 2019 earnings at $1.00 EPS, Q2 2019 earnings at $0.96 EPS and Q3 2019 earnings at $0.12 EPS.
Signet Jewelers Limited (NYSE:SIG) last announced its quarterly earnings data on Thursday, May 25th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by $0.63. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.46 billion. Signet Jewelers Limited had a return on equity of 19.20% and a net margin of 7.46%. The company’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.95 EPS.
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Several other research analysts have also recently weighed in on SIG. Buckingham Research cut Signet Jewelers Limited from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $86.00 to $65.00 in a research report on Wednesday, May 24th. Telsey Advisory Group lowered their price objective on Signet Jewelers Limited from $75.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, May 26th. CL King cut Signet Jewelers Limited from a “buy” rating to a “neutral” rating and set a $85.00 price objective on the stock. in a research report on Friday, May 26th. Royal Bank Of Canada set a $63.00 price objective on Signet Jewelers Limited and gave the stock a “buy” rating in a research report on Friday, May 26th. Finally, Cowen and Company reiterated a “market perform” rating and set a $54.00 price objective (down previously from $65.00) on shares of Signet Jewelers Limited in a research report on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $77.35.
Shares of Signet Jewelers Limited (NYSE SIG) traded down 0.59% during midday trading on Friday, hitting $53.78. 315,133 shares of the stock traded hands. The firm’s 50 day moving average price is $59.75 and its 200 day moving average price is $63.86. Signet Jewelers Limited has a 12-month low of $46.09 and a 12-month high of $101.46. The company has a market capitalization of $3.68 billion, a PE ratio of 8.54 and a beta of 1.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Friday, July 28th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.29%. The ex-dividend date is Wednesday, July 26th. Signet Jewelers Limited’s dividend payout ratio (DPR) is presently 19.97%.
In other Signet Jewelers Limited news, Director H. Todd Stitzer acquired 2,090 shares of Signet Jewelers Limited stock in a transaction that occurred on Wednesday, May 31st. The shares were acquired at an average cost of $47.91 per share, with a total value of $100,131.90. Following the completion of the purchase, the director now directly owns 16,823 shares of the company’s stock, valued at approximately $805,989.93. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.52% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in SIG. Vanguard Group Inc. raised its stake in Signet Jewelers Limited by 1.5% in the second quarter. Vanguard Group Inc. now owns 6,650,379 shares of the company’s stock valued at $420,569,000 after buying an additional 97,075 shares during the period. Capital Research Global Investors raised its stake in Signet Jewelers Limited by 1.7% in the second quarter. Capital Research Global Investors now owns 5,377,336 shares of the company’s stock valued at $340,063,000 after buying an additional 88,336 shares during the period. BlackRock Inc. raised its stake in Signet Jewelers Limited by 6.6% in the second quarter. BlackRock Inc. now owns 4,416,710 shares of the company’s stock valued at $279,313,000 after buying an additional 272,979 shares during the period. Abrams Bison Investments LLC raised its stake in Signet Jewelers Limited by 1.5% in the first quarter. Abrams Bison Investments LLC now owns 4,015,847 shares of the company’s stock valued at $278,178,000 after buying an additional 60,847 shares during the period. Finally, State Street Corp raised its stake in Signet Jewelers Limited by 2.1% in the second quarter. State Street Corp now owns 3,365,495 shares of the company’s stock valued at $212,841,000 after buying an additional 69,756 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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