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Signet (SIG - Free Report) closed at $102.74 in the latest trading session, marking a +1.35% move from the prior day. This move outpaced the S&P 500's daily gain of 0.7%. On the other hand, the Dow registered a gain of 0.01%, and the technology-centric Nasdaq increased by 1.1%.
The jewelry company's shares have seen an increase of 1.72% over the last month, not keeping up with the Retail-Wholesale sector's gain of 1.98% and the S&P 500's gain of 4.03%.
The upcoming earnings release of Signet will be of great interest to investors. The company's earnings report is expected on June 13, 2024. On that day, Signet is projected to report earnings of $0.82 per share, which would represent a year-over-year decline of 53.93%. Alongside, our most recent consensus estimate is anticipating revenue of $1.51 billion, indicating a 9.77% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.60 per share and revenue of $6.86 billion, indicating changes of +2.22% and -4.34%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Signet. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Signet possesses a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Signet is currently trading at a Forward P/E ratio of 9.57. This valuation marks a discount compared to its industry's average Forward P/E of 20.78.
Investors should also note that SIG has a PEG ratio of 1.12 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. As of the close of trade yesterday, the Retail - Jewelry industry held an average PEG ratio of 1.93.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SIG in the coming trading sessions, be sure to utilize Zacks.com.
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Signet (SIG) Laps the Stock Market: Here's Why
Signet (SIG - Free Report) closed at $102.74 in the latest trading session, marking a +1.35% move from the prior day. This move outpaced the S&P 500's daily gain of 0.7%. On the other hand, the Dow registered a gain of 0.01%, and the technology-centric Nasdaq increased by 1.1%.
The jewelry company's shares have seen an increase of 1.72% over the last month, not keeping up with the Retail-Wholesale sector's gain of 1.98% and the S&P 500's gain of 4.03%.
The upcoming earnings release of Signet will be of great interest to investors. The company's earnings report is expected on June 13, 2024. On that day, Signet is projected to report earnings of $0.82 per share, which would represent a year-over-year decline of 53.93%. Alongside, our most recent consensus estimate is anticipating revenue of $1.51 billion, indicating a 9.77% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.60 per share and revenue of $6.86 billion, indicating changes of +2.22% and -4.34%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Signet. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Signet possesses a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Signet is currently trading at a Forward P/E ratio of 9.57. This valuation marks a discount compared to its industry's average Forward P/E of 20.78.
Investors should also note that SIG has a PEG ratio of 1.12 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. As of the close of trade yesterday, the Retail - Jewelry industry held an average PEG ratio of 1.93.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SIG in the coming trading sessions, be sure to utilize Zacks.com.