Signet (SIG) Stock Moves -1.05%: What You Should Know
Signet (SIG) closed the most recent trading day at $80.38, moving -1.05% from the previous trading session. This change was narrower than the S&P 500's 1.48% loss on the day. At the same time, the Dow lost 1.05%, and the tech-heavy Nasdaq lost 0.09%.
Heading into today, shares of the jewelry company had gained 3.29% over the past month, outpacing the Retail-Wholesale sector's loss of 2.46% and the S&P 500's gain of 0.08% in that time.
Signet will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $2.27, up 1.79% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.81 billion, up 7.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $11.27 per share and revenue of $8.23 billion, which would represent changes of -8.22% and +5.19%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Signet. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Signet is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Signet is holding a Forward P/E ratio of 7.21. This represents a discount compared to its industry's average Forward P/E of 14.95.
It is also worth noting that SIG currently has a PEG ratio of 0.9. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Retail - Jewelry stocks are, on average, holding a PEG ratio of 0.85 based on yesterday's closing prices.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 52, which puts it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Signet Jewelers Limited (SIG) : Free Stock Analysis Report
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