Signet Jewelers (NYSE:SIG) Issues FY23 Earnings Guidance

Signet Jewelers (NYSE:SIGGet Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $12.72-13.47 for the period, compared to the consensus estimate of $11.81. The company issued revenue guidance of $8.03-8.25, compared to the consensus revenue estimate of $8.03 billion.Signet Jewelers also updated its FY 2023 guidance to $12.72-$13.47 EPS.

Shares of SIG stock traded up $6.10 on Thursday, hitting $68.30. 50,737 shares of the stock traded hands, compared to its average volume of 1,233,429. The company has a market capitalization of $3.41 billion, a PE ratio of 5.53, a PEG ratio of 0.72 and a beta of 2.39. The company’s fifty day moving average is $67.39 and its 200 day moving average is $77.69. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.80 and a quick ratio of 0.81. Signet Jewelers has a 1-year low of $48.31 and a 1-year high of $111.92.

Signet Jewelers (NYSE:SIGGet Rating) last announced its quarterly earnings data on Thursday, March 17th. The company reported $5.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.91 by $0.10. The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.77 billion. Signet Jewelers had a return on equity of 51.76% and a net margin of 9.84%. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same period in the prior year, the business earned $4.15 EPS. As a group, equities research analysts expect that Signet Jewelers will post 11.26 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Friday, April 29th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, April 28th. This is a boost from Signet Jewelers’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. Signet Jewelers’s payout ratio is 6.56%.

Several equities analysts have recently commented on the company. StockNews.com raised Signet Jewelers from a hold rating to a buy rating in a research report on Saturday, March 26th. Wells Fargo & Company dropped their price target on Signet Jewelers from $140.00 to $105.00 and set an overweight rating for the company in a research note on Tuesday, April 5th. Zacks Investment Research downgraded Signet Jewelers from a buy rating to a hold rating and set a $66.00 price target for the company. in a report on Thursday, May 19th. Finally, Citigroup lifted their price target on shares of Signet Jewelers from $90.00 to $94.00 and gave the stock a neutral rating in a report on Friday, March 18th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Signet Jewelers currently has a consensus rating of Hold and a consensus target price of $96.00.

In other Signet Jewelers news, insider Oded Edelman sold 20,000 shares of the business’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the sale, the insider now directly owns 65,398 shares in the company, valued at approximately $3,676,021.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian A. Tilzer sold 2,750 shares of the business’s stock in a transaction dated Friday, March 18th. The shares were sold at an average price of $83.86, for a total transaction of $230,615.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,939 shares of company stock valued at $5,832,962. 1.76% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SIG. EverSource Wealth Advisors LLC bought a new position in shares of Signet Jewelers during the 4th quarter worth approximately $34,000. Ancora Advisors LLC grew its stake in Signet Jewelers by 268.4% in the first quarter. Ancora Advisors LLC now owns 2,579 shares of the company’s stock valued at $150,000 after acquiring an additional 1,879 shares during the period. Evergreen Capital Management LLC grew its stake in Signet Jewelers by 8.4% in the first quarter. Evergreen Capital Management LLC now owns 2,964 shares of the company’s stock valued at $215,000 after acquiring an additional 229 shares during the period. XTX Topco Ltd bought a new stake in shares of Signet Jewelers in the first quarter valued at about $280,000. Finally, LPL Financial LLC raised its holdings in Signet Jewelers by 5.6% during the third quarter. LPL Financial LLC now owns 4,288 shares of the company’s stock worth $339,000 after acquiring an additional 226 shares in the last quarter. 94.80% of the stock is owned by institutional investors and hedge funds.

About Signet Jewelers (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.

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