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Here's Why Signet (SIG) Gained But Lagged the Market Today
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In the latest trading session, Signet (SIG - Free Report) closed at $83.04, marking a +0.45% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.11%. Meanwhile, the Dow gained 1.64%, and the Nasdaq, a tech-heavy index, added 1.03%.
The jewelry company's stock has dropped by 7.32% in the past month, falling short of the Retail-Wholesale sector's loss of 2.12% and the S&P 500's loss of 1.16%.
Investors will be eagerly watching for the performance of Signet in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.13, signifying a 27.1% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.49 billion, indicating a 7.66% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.60 per share and a revenue of $6.8 billion, indicating changes of +2.22% and -5.23%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Signet. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Signet holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Signet is currently exchanging hands at a Forward P/E ratio of 7.8. This signifies a discount in comparison to the average Forward P/E of 20.13 for its industry.
Meanwhile, SIG's PEG ratio is currently 0.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. SIG's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Here's Why Signet (SIG) Gained But Lagged the Market Today
In the latest trading session, Signet (SIG - Free Report) closed at $83.04, marking a +0.45% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.11%. Meanwhile, the Dow gained 1.64%, and the Nasdaq, a tech-heavy index, added 1.03%.
The jewelry company's stock has dropped by 7.32% in the past month, falling short of the Retail-Wholesale sector's loss of 2.12% and the S&P 500's loss of 1.16%.
Investors will be eagerly watching for the performance of Signet in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.13, signifying a 27.1% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.49 billion, indicating a 7.66% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.60 per share and a revenue of $6.8 billion, indicating changes of +2.22% and -5.23%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Signet. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Signet holds a Zacks Rank of #3 (Hold).
From a valuation perspective, Signet is currently exchanging hands at a Forward P/E ratio of 7.8. This signifies a discount in comparison to the average Forward P/E of 20.13 for its industry.
Meanwhile, SIG's PEG ratio is currently 0.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. SIG's industry had an average PEG ratio of 1.2 as of yesterday's close.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.