Signet Jewelers (NYSE:SIG) issued its earnings results on Wednesday. The company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.96, MarketWatch Earnings reports. Signet Jewelers had a positive return on equity of 13.68% and a negative net margin of 0.32%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same period in the prior year, the firm posted ($1.59) EPS. The business’s revenue was up 98.2% compared to the same quarter last year.
SIG opened at $69.58 on Friday. The firm has a 50 day simple moving average of $61.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.79 and a quick ratio of 0.78. Signet Jewelers has a 12-month low of $9.70 and a 12-month high of $74.80. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of -49.00 and a beta of 2.61.
A number of brokerages have recently commented on SIG. Zacks Investment Research raised Signet Jewelers from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective on the stock in a report on Wednesday, April 21st. Citigroup increased their price objective on Signet Jewelers from $68.00 to $79.00 and gave the company a “neutral” rating in a report on Friday. Wells Fargo & Company raised Signet Jewelers from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $57.00 to $70.00 in a report on Thursday. Finally, Telsey Advisory Group raised their target price on Signet Jewelers from $60.00 to $70.00 and gave the company a “market perform” rating in a report on Tuesday, April 13th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Signet Jewelers currently has an average rating of “Hold” and a consensus target price of $65.00.
Signet Jewelers Limited engages in the retail sale of diamond jewelry, watches, and other products. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in malls and off-mall locations primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Piercing Pagoda, and Peoples Jewellers, as well as operates online through JamesAllen.com.
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