Northcoast Research Comments on Signet Jewelers Limited’s Q4 2022 Earnings (NYSE:SIG)

Signet Jewelers Limited (NYSE:SIG) – Investment analysts at Northcoast Research lowered their Q4 2022 earnings per share (EPS) estimates for Signet Jewelers in a research report issued to clients and investors on Monday, April 19th. Northcoast Research analyst T. Vierengel now anticipates that the company will earn $3.19 per share for the quarter, down from their prior estimate of $3.26. Northcoast Research has a “Buy” rating on the stock. Northcoast Research also issued estimates for Signet Jewelers’ FY2023 earnings at $4.87 EPS.

Signet Jewelers (NYSE:SIG) last posted its quarterly earnings data on Wednesday, March 17th. The company reported $4.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.54 by $0.61. Signet Jewelers had a positive return on equity of 9.73% and a negative net margin of 1.62%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the business earned $3.67 EPS. Signet Jewelers’s revenue was up 1.5% compared to the same quarter last year.

Other equities research analysts have also recently issued reports about the company. Citigroup upped their price objective on Signet Jewelers from $40.00 to $45.00 in a research note on Friday, January 15th. Zacks Investment Research cut Signet Jewelers from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a research note on Wednesday, March 10th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Signet Jewelers from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $17.00 to $40.00 in a research note on Tuesday, January 12th. TheStreet raised Signet Jewelers from a “d+” rating to a “c-” rating in a research report on Monday, February 1st. Finally, Telsey Advisory Group increased their price objective on Signet Jewelers from $60.00 to $70.00 and gave the company a “market perform” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $54.40.

Shares of SIG stock opened at $57.49 on Tuesday. Signet Jewelers has a twelve month low of $7.05 and a twelve month high of $68.29. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -23.95, a P/E/G ratio of 6.93 and a beta of 2.67. The stock has a fifty day simple moving average of $58.34 and a two-hundred day simple moving average of $38.36. The company has a current ratio of 2.26, a quick ratio of 1.00 and a debt-to-equity ratio of 1.13.

Institutional investors have recently bought and sold shares of the business. Select Equity Group L.P. boosted its stake in Signet Jewelers by 5.8% in the 4th quarter. Select Equity Group L.P. now owns 8,545,690 shares of the company’s stock worth $233,041,000 after purchasing an additional 467,770 shares during the period. BlackRock Inc. boosted its stake in Signet Jewelers by 3.0% in the 4th quarter. BlackRock Inc. now owns 8,068,368 shares of the company’s stock worth $220,025,000 after purchasing an additional 237,983 shares during the period. SummerHaven Investment Management LLC acquired a new position in Signet Jewelers in the 4th quarter worth approximately $1,049,000. Northern Trust Corp boosted its stake in Signet Jewelers by 18.9% in the 4th quarter. Northern Trust Corp now owns 825,991 shares of the company’s stock worth $22,524,000 after purchasing an additional 131,575 shares during the period. Finally, Norges Bank acquired a new position in Signet Jewelers in the 4th quarter worth approximately $19,969,000.

About Signet Jewelers

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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Earnings History and Estimates for Signet Jewelers (NYSE:SIG)

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