Signet Jewelers (NYSE:SIG) Releases FY 2023 Earnings Guidance

Signet Jewelers (NYSE:SIG – Get Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $12.72-$13.47 for the period. The company issued revenue guidance of $8.03 billion-$8.25 billion, compared to the consensus revenue estimate of $7.99 billion. Signet Jewelers also updated its Q2 2023 guidance to EPS.

Several equities research analysts have recently commented on the stock. Citigroup reduced their price target on shares of Signet Jewelers from $94.00 to $76.00 and set a neutral rating for the company in a report on Friday, June 10th. StockNews.com lowered shares of Signet Jewelers from a buy rating to a hold rating in a report on Wednesday. UBS Group reduced their price target on shares of Signet Jewelers from $138.00 to $120.00 and set a buy rating for the company in a report on Friday, June 10th. Wells Fargo & Company reduced their price objective on shares of Signet Jewelers from $140.00 to $105.00 and set an overweight rating for the company in a research note on Tuesday, April 5th. Finally, Telsey Advisory Group reduced their price objective on shares of Signet Jewelers from $100.00 to $85.00 and set a market perform rating for the company in a research note on Friday, June 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $94.80.

NYSE:SIG opened at $55.97 on Thursday. The company has a market cap of $2.60 billion, a PE ratio of 6.94, a P/E/G ratio of 0.58 and a beta of 2.39. Signet Jewelers has a twelve month low of $48.31 and a twelve month high of $111.92. The company has a current ratio of 1.64, a quick ratio of 0.61 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $65.18 and its two-hundred day moving average is $74.94.

Signet Jewelers (NYSE:SIG – Get Rating) last released its earnings results on Thursday, June 9th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.48. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. Signet Jewelers had a net margin of 6.87% and a return on equity of 52.99%. Signet Jewelers’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.23 EPS. As a group, analysts expect that Signet Jewelers will post 12.47 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, July 29th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, July 28th. Signet Jewelers’s dividend payout ratio (DPR) is currently 9.91%.

In other Signet Jewelers news, insider Stash Ptak sold 421 shares of the company’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $80.00, for a total transaction of $33,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Oded Edelman sold 20,000 shares of the company’s stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $69.34, for a total transaction of $1,386,800.00. Following the transaction, the insider now owns 85,398 shares of the company’s stock, valued at $5,921,497.32. The disclosure for this sale can be found here. Insiders sold a total of 50,421 shares of company stock worth $3,118,380 over the last ninety days. Insiders own 1.76% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Ancora Advisors LLC raised its position in shares of Signet Jewelers by 268.4% in the first quarter. Ancora Advisors LLC now owns 2,579 shares of the company’s stock valued at $150,000 after buying an additional 1,879 shares during the last quarter. Evergreen Capital Management LLC raised its position in shares of Signet Jewelers by 8.4% in the first quarter. Evergreen Capital Management LLC now owns 2,964 shares of the company’s stock valued at $215,000 after buying an additional 229 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Signet Jewelers in the first quarter valued at about $280,000. Wellington Management Group LLP acquired a new stake in shares of Signet Jewelers in the first quarter valued at about $355,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Signet Jewelers in the first quarter valued at about $377,000. Institutional investors and hedge funds own 94.80% of the company’s stock.

About Signet Jewelers (Get Rating)

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through JamesAllen.com and Rocksbox.

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