Signet Jewelers (NYSE:SIG) announced its earnings results on Thursday. The company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.08) by $0.02, Morningstar.com reports. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Signet Jewelers had a positive return on equity of 17.52% and a negative net margin of 2.84%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 EPS.
Shares of NYSE SIG opened at $50.03 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 2.69. The firm has a market capitalization of $2.60 billion, a P/E ratio of 7.69, a P/E/G ratio of 1.82 and a beta of 0.89. Signet Jewelers has a 52-week low of $33.11 and a 52-week high of $71.07.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC acquired a new position in shares of Signet Jewelers in the 2nd quarter worth $112,000. Itau Unibanco Holding S.A. acquired a new position in shares of Signet Jewelers in the 2nd quarter worth $132,000. NuWave Investment Management LLC grew its holdings in shares of Signet Jewelers by 140.1% in the 3rd quarter. NuWave Investment Management LLC now owns 2,840 shares of the company’s stock worth $187,000 after acquiring an additional 1,657 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in shares of Signet Jewelers in the 2nd quarter worth $214,000. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Signet Jewelers in the 2nd quarter worth $284,000.
Several brokerages have weighed in on SIG. Telsey Advisory Group reaffirmed a “market perform” rating and set a $60.00 target price (down previously from $69.00) on shares of Signet Jewelers in a research note on Monday. Zacks Investment Research reiterated a “hold” rating on shares of Signet Jewelers in a research report on Thursday, November 15th. Citigroup upgraded Signet Jewelers from a “sell” rating to a “neutral” rating in a research report on Friday, October 26th. ValuEngine cut Signet Jewelers from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 4th. Finally, Wells Fargo & Co lifted their price target on Signet Jewelers from $50.00 to $65.00 and gave the company a “market perform” rating in a research report on Friday, August 31st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company’s stock. Signet Jewelers currently has an average rating of “Hold” and a consensus price target of $54.44.
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About Signet Jewelers
Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products in the United States, Canada, the United Kingdom, the Republic of Ireland, and the Channel Islands. Its Sterling Jewelers division operates stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, and various mall-based regional brands, as well as JamesAllen.com, an online jewelry retailer Website.
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