Signet Jewelers (NYSE:SIG) Updates FY 2023 Earnings Guidance

Signet Jewelers (NYSE:SIGGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share guidance of $12.72-$13.47 for the period. The company issued revenue guidance of $8.03 billion-$8.25 billion, compared to the consensus revenue estimate of $7.99 billion. Signet Jewelers also updated its Q2 2023 guidance to EPS.

Several analysts have weighed in on the company. StockNews.com downgraded Signet Jewelers from a buy rating to a hold rating in a research report on Wednesday, June 22nd. Citigroup lowered their price objective on Signet Jewelers from $94.00 to $76.00 and set a neutral rating for the company in a research report on Friday, June 10th. UBS Group reduced their target price on Signet Jewelers from $138.00 to $120.00 and set a buy rating on the stock in a research note on Friday, June 10th. Wells Fargo & Company reduced their target price on Signet Jewelers from $140.00 to $105.00 and set an overweight rating on the stock in a research note on Tuesday, April 5th. Finally, Telsey Advisory Group reduced their target price on Signet Jewelers from $100.00 to $85.00 and set a market perform rating on the stock in a research note on Friday, June 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Signet Jewelers presently has an average rating of Hold and an average target price of $94.80.

Shares of SIG stock opened at $53.55 on Friday. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 6.64, a PEG ratio of 0.62 and a beta of 2.39. The business’s fifty day moving average is $62.10 and its 200 day moving average is $73.50. Signet Jewelers has a twelve month low of $48.31 and a twelve month high of $111.92. The company has a quick ratio of 0.61, a current ratio of 1.64 and a debt-to-equity ratio of 0.12.

Signet Jewelers (NYSE:SIGGet Rating) last issued its quarterly earnings results on Thursday, June 9th. The company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.48. Signet Jewelers had a return on equity of 52.99% and a net margin of 6.87%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the firm earned $2.23 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts expect that Signet Jewelers will post 12.47 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, July 29th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.49%. Signet Jewelers’s dividend payout ratio is currently 9.91%.

In other news, insider Oded Edelman sold 20,000 shares of the company’s stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the transaction, the insider now directly owns 65,398 shares of the company’s stock, valued at $3,676,021.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen E. Lovejoy sold 10,000 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $57.37, for a total value of $573,700.00. Following the transaction, the insider now directly owns 88,732 shares in the company, valued at $5,090,554.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,000 shares of company stock worth $3,084,700. Insiders own 1.76% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in Signet Jewelers by 63.2% in the first quarter. Bank of America Corp DE now owns 191,101 shares of the company’s stock valued at $13,893,000 after acquiring an additional 74,014 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Signet Jewelers by 3.8% in the first quarter. BNP Paribas Arbitrage SA now owns 52,236 shares of the company’s stock worth $3,798,000 after buying an additional 1,909 shares during the period. Walleye Capital LLC raised its stake in shares of Signet Jewelers by 17.2% in the first quarter. Walleye Capital LLC now owns 16,307 shares of the company’s stock worth $1,186,000 after buying an additional 2,395 shares during the period. Lido Advisors LLC raised its stake in shares of Signet Jewelers by 8.5% in the first quarter. Lido Advisors LLC now owns 6,303 shares of the company’s stock worth $458,000 after buying an additional 492 shares during the period. Finally, MidWestOne Financial Group Inc. bought a new position in shares of Signet Jewelers in the first quarter worth about $942,000. 94.80% of the stock is currently owned by institutional investors.

Signet Jewelers Company Profile (Get Rating)

Signet Jewelers Limited operates as a diamond jewelry retailer. It operates through three segments: North America, International, and Other. The North America segment operates jewelry stores in jewelry stores in malls, mall-based kiosks, and off-mall locations in the United States and Canada primarily under the Kay Jewelers, Kay Jewelers Outlet, Jared The Galleria Of Jewelry, Jared Vault, Zales Jewelers, Zales Outlet, Diamonds Direct, James Allen, Banter by Piercing Pagoda, and Peoples Jewellers names, as well as operates online through JamesAllen.com and Rocksbox.

See Also

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

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