Signet Jewelers (NYSE:SIG) Releases Earnings Results, Beats Expectations By $0.96 EPS

Signet Jewelers (NYSE:SIG) announced its quarterly earnings results on Wednesday. The company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.96, MarketWatch Earnings reports. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.62 billion. Signet Jewelers had a negative net margin of 0.32% and a positive return on equity of 13.68%. Signet Jewelers’s revenue for the quarter was up 98.2% on a year-over-year basis. During the same period last year, the company posted ($1.59) EPS.

Shares of NYSE:SIG traded up $1.66 during midday trading on Friday, hitting $71.24. The stock had a trading volume of 11,808 shares, compared to its average volume of 1,061,931. Signet Jewelers has a 12 month low of $9.70 and a 12 month high of $74.80. The company has a current ratio of 1.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average of $61.29. The firm has a market capitalization of $3.73 billion, a P/E ratio of -50.18 and a beta of 2.61.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 27th. Stockholders of record on Friday, July 30th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, July 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.01%.

Several brokerages have commented on SIG. Telsey Advisory Group raised their target price on shares of Signet Jewelers from $60.00 to $70.00 and gave the stock a “market perform” rating in a report on Tuesday, April 13th. Wells Fargo & Company upgraded shares of Signet Jewelers from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $57.00 to $70.00 in a report on Thursday. Zacks Investment Research upgraded shares of Signet Jewelers from a “hold” rating to a “strong-buy” rating and set a $66.00 target price on the stock in a report on Wednesday, April 21st. Citigroup raised their target price on shares of Signet Jewelers from $68.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of Signet Jewelers from $68.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $72.80.

Signet Jewelers Company Profile

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.

Featured Story: How can investors find ex-dividend dates?

Earnings History for Signet Jewelers (NYSE:SIG)

Receive News & Ratings for Signet Jewelers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Signet Jewelers and related companies with MarketBeat.com's FREE daily email newsletter.