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Signet (SIG) Dips More Than Broader Markets: What You Should Know
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Signet (SIG - Free Report) closed at $71.83 in the latest trading session, marking a -1.9% move from the prior day. This change lagged the S&P 500's 1.53% loss on the day. At the same time, the Dow lost 1.72%, and the tech-heavy Nasdaq lost 3.27%.
Heading into today, shares of the jewelry company had lost 7.03% over the past month, lagging the Retail-Wholesale sector's loss of 5.33% and the S&P 500's loss of 1.28% in that time.
Investors will be hoping for strength from Signet as it approaches its next earnings release, which is expected to be March 16, 2023. The company is expected to report EPS of $5.35, up 6.79% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.65 billion, down 5.7% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Signet. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Signet is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Signet's current valuation metrics, including its Forward P/E ratio of 6.57. For comparison, its industry has an average Forward P/E of 16.45, which means Signet is trading at a discount to the group.
Investors should also note that SIG has a PEG ratio of 0.82 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Retail - Jewelry industry currently had an average PEG ratio of 1.03 as of yesterday's close.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.
View the Zacks #1 Rank List
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Signet (SIG) Dips More Than Broader Markets: What You Should Know
Signet (SIG - Free Report) closed at $71.83 in the latest trading session, marking a -1.9% move from the prior day. This change lagged the S&P 500's 1.53% loss on the day. At the same time, the Dow lost 1.72%, and the tech-heavy Nasdaq lost 3.27%.
Heading into today, shares of the jewelry company had lost 7.03% over the past month, lagging the Retail-Wholesale sector's loss of 5.33% and the S&P 500's loss of 1.28% in that time.
Investors will be hoping for strength from Signet as it approaches its next earnings release, which is expected to be March 16, 2023. The company is expected to report EPS of $5.35, up 6.79% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.65 billion, down 5.7% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Signet. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Signet is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Signet's current valuation metrics, including its Forward P/E ratio of 6.57. For comparison, its industry has an average Forward P/E of 16.45, which means Signet is trading at a discount to the group.
Investors should also note that SIG has a PEG ratio of 0.82 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Retail - Jewelry industry currently had an average PEG ratio of 1.03 as of yesterday's close.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.