Signet Jewelers (NYSE:SIG) announced its quarterly earnings data on Thursday. The company reported $2.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.96, MarketWatch Earnings reports. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.62 billion. Signet Jewelers had a negative net margin of 0.32% and a positive return on equity of 13.68%. The company’s revenue was up 98.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.59) EPS. Signet Jewelers updated its Q2 2022 guidance to $- EPS.
Shares of NYSE:SIG opened at $69.58 on Friday. 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 52-week low of $9.70 and a 52-week high of $74.80. The firm has a 50 day moving average price of $61.29. The firm has a market capitalization of $3.64 billion, a P/E ratio of -49.00 and a beta of 2.61.
Several research analysts have recently weighed in on the stock. Telsey Advisory Group increased their price objective 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. Zacks Investment Research upgraded shares of 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. Finally, Wells Fargo & Company raised shares of Signet Jewelers from an “underweight” rating to an “equal weight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $55.60.
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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