Signet (SIG) Beats Q2 Earnings and Revenue Estimates
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 12 2024
0mins
Source: NASDAQ.COM
Signet Jewelers Earnings Report: Signet reported quarterly earnings of $1.25 per share, exceeding estimates, but down from $1.55 a year ago. The company also posted revenues of $1.49 billion, slightly above expectations, yet has seen a 27.2% decline in shares this year.
Future Outlook and Industry Context: Despite recent earnings surpassing estimates, the outlook for Signet is unfavorable with a Zacks Rank #4 (Sell), indicating potential underperformance. Additionally, the Retail - Jewelry industry ranks in the bottom 33% of Zacks industries, which may impact future stock performance.
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Analyst Views on SIG
Wall Street analysts forecast SIG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SIG is 114.71 USD with a low forecast of 90.00 USD and a high forecast of 150.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
4 Buy
3 Hold
0 Sell
Moderate Buy
Current: 91.710
Low
90.00
Averages
114.71
High
150.00
Current: 91.710
Low
90.00
Averages
114.71
High
150.00
About SIG
Signet Jewelers Ltd is a Bermuda-based holding company. It is a retailer of diamond jewelry. It operates through its 100% owned subsidiaries with sales primarily in the United States (US), United Kingdom (UK) and Canada. It manages its business through three reportable segments: North America, International, and Other. The North America segment operates across the United States and Canada. Its United States stores operate nationally in malls and off-mall locations, as well as online, principally as Kay (Kay Jewelers and Kay Outlet), Zales (Zales Jewelers and Zales Outlet), Jared (Jared Jewelers and Jared Vault), Diamonds Direct, Banter by Piercing Pagoda, Rocksbox, and Digital brands, James Allen and Blue Nile. Its Canadian stores operate as Peoples Jewelers. The International segment operates stores in the United Kingdom and Republic of Ireland as well as online. The Other segment consists of subsidiaries involved in the purchasing and conversion of rough diamonds to polished stones.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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