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Signet (SIG) Rises As Market Takes a Dip: Key Facts
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Signet (SIG - Free Report) closed the latest trading day at $77.66, indicating a +0.79% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.2%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the jewelry company had lost 9.64% in the past month. In that same time, the Retail-Wholesale sector gained 1.7%, while the S&P 500 gained 1.93%.
Market participants will be closely following the financial results of Signet in its upcoming release. The company plans to announce its earnings on September 12, 2024. The company's earnings per share (EPS) are projected to be $1.13, reflecting a 27.1% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.49 billion, indicating a 7.66% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $10.60 per share and a revenue of $6.8 billion, demonstrating changes of +2.22% and -5.23%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Signet. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Signet boasts a Zacks Rank of #3 (Hold).
Investors should also note Signet's current valuation metrics, including its Forward P/E ratio of 7.27. For comparison, its industry has an average Forward P/E of 20.19, which means Signet is trading at a discount to the group.
It's also important to note that SIG currently trades at a PEG ratio of 0.83. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Retail - Jewelry stocks are, on average, holding a PEG ratio of 1.21 based on yesterday's closing prices.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Signet (SIG) Rises As Market Takes a Dip: Key Facts
Signet (SIG - Free Report) closed the latest trading day at $77.66, indicating a +0.79% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.2%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq lost 0.34%.
Coming into today, shares of the jewelry company had lost 9.64% in the past month. In that same time, the Retail-Wholesale sector gained 1.7%, while the S&P 500 gained 1.93%.
Market participants will be closely following the financial results of Signet in its upcoming release. The company plans to announce its earnings on September 12, 2024. The company's earnings per share (EPS) are projected to be $1.13, reflecting a 27.1% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.49 billion, indicating a 7.66% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $10.60 per share and a revenue of $6.8 billion, demonstrating changes of +2.22% and -5.23%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Signet. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Signet boasts a Zacks Rank of #3 (Hold).
Investors should also note Signet's current valuation metrics, including its Forward P/E ratio of 7.27. For comparison, its industry has an average Forward P/E of 20.19, which means Signet is trading at a discount to the group.
It's also important to note that SIG currently trades at a PEG ratio of 0.83. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Retail - Jewelry stocks are, on average, holding a PEG ratio of 1.21 based on yesterday's closing prices.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.