You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Signet (SIG) Stock Sinks As Market Gains: What You Should Know
Signet (SIG - Free Report) closed the most recent trading day at $67.97, moving -1.64% from the previous trading session. This change lagged the S&P 500's daily gain of 0.29%. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 0.07%.
Heading into today, shares of the jewelry company had gained 22.26% over the past month, outpacing the Retail-Wholesale sector's gain of 3.89% and the S&P 500's gain of 4.36% in that time.
Wall Street will be looking for positivity from Signet as it approaches its next earnings report date. This is expected to be September 1, 2022. On that day, Signet is projected to report earnings of $2.53 per share, which would represent a year-over-year decline of 29.13%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.75 billion, down 1.91% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $10.71 per share and revenue of $7.68 billion. These totals would mark changes of -12.79% and -1.85%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Signet. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 14.15% lower within the past month. Signet is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Signet is currently trading at a Forward P/E ratio of 6.45. Its industry sports an average Forward P/E of 18.42, so we one might conclude that Signet is trading at a discount comparatively.
We can also see that SIG currently has a PEG ratio of 0.81. 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. The Retail - Jewelry was holding an average PEG ratio of 1 at yesterday's closing price.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.