Signet Jewelers (NYSE:SIG) Posts Earnings Results, Beats Estimates By $0.23 EPS

Signet Jewelers (NYSE:SIG) released its quarterly earnings results on Wednesday. The company reported $6.62 earnings per share for the quarter, topping analysts’ consensus estimates of $6.39 by $0.23, Zacks reports. Signet Jewelers had a return on equity of 28.69% and a net margin of 8.57%. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the previous year, the firm posted $6.73 earnings per share. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year.

Signet Jewelers Stock Performance

Signet Jewelers stock opened at $56.73 on Thursday. The stock has a fifty day moving average price of $55.25 and a 200 day moving average price of $78.66. Signet Jewelers has a 52 week low of $45.55 and a 52 week high of $112.06. The company has a current ratio of 1.55, a quick ratio of 0.25 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2.47 billion, a P/E ratio of 6.53, a PEG ratio of 3.43 and a beta of 2.20.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SIG. Wells Fargo & Company cut their price target on Signet Jewelers from $110.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Telsey Advisory Group reiterated a “market perform” rating and issued a $55.00 target price on shares of Signet Jewelers in a research note on Wednesday. Bank of America dropped their target price on Signet Jewelers from $95.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Finally, StockNews.com lowered Signet Jewelers from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Signet Jewelers has a consensus rating of “Moderate Buy” and a consensus target price of $93.20.

Insider Buying and Selling at Signet Jewelers

In other Signet Jewelers news, Director Eugenia Ulasewicz sold 3,333 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $54.13, for a total transaction of $180,415.29. Following the completion of the sale, the director now owns 22,752 shares of the company’s stock, valued at approximately $1,231,565.76. The trade was a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.26% of the stock is owned by company insiders.

About Signet Jewelers

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 Outlet, Zales Jewelers, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through its digital banners, James Allen and Blue Nile.