Signet Jewelers Ltd. (SIG) is Downgraded by Goldman to Neutral

Signet Jewelers Ltd. (SIG) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on May 27, 2016.

Many Wall Street Analysts have commented on Signet Jewelers Ltd.. Shares were Reiterated by Telsey Advisory Group on May 27, 2016 to “Outperform” and Lowered the Price Target to $ 140 from a previous price target of $165 .Company shares were Reiterated by Topeka Capital Markets on Mar 24, 2016 to “Buy”, Firm has raised the Price Target to $ 170 from a previous price target of $169 .CL King Upgraded Signet Jewelers Ltd. on Mar 1, 2016 to ” Buy”, Price Target of the shares are set at $127.

On the company’s financial health, Signet Jewelers Ltd. reported $1.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 26, 2016. Analyst had a consensus of $1.94. The company had revenue of $1583.10 million for the quarter, compared to analysts expectations of $1607.67 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS.

Signet Jewelers Ltd. opened for trading at $105.97 and hit $108.81 on the upside on Wednesday, eventually ending the session at $108.37, with a gain of 2.45% or 2.59 points. The heightened volatility saw the trading volume jump to 22,35,772 shares. Company has a market cap of $8,495 M.

In a different news, on Jan 19, 2016, Sebastian Hobbs (Managing Director, UK) sold 360 shares at $123.85 per share price. According to the SEC, on Jan 14, 2016, Mark Andrew Jenkins (Chief Corp Gov/Corp Secretary) sold 8,478 shares at $126.61 per share price. On Oct 6, 2015, Edward Hrabak (President of Sterling Division) sold 77 shares at $138.52 per share price, according to the Form-4 filing with the securities and exchange commission.

Signet Jewelers Limited is a retailer of jewelry watches and associated services in the United States Canada and the United Kingdom. The Company manages its business through four segments: the Sterling Jewelers division the UK Jewelry division the Zale division which consists of Zale Jewelry and Piercing Pagoda and the Other segment. The Other segment includes subsidiaries involved in purchasing and conversion of rough diamonds to polished stones and unallocated corporate administrative functions. The Company operates retail jewelry stores in real estate formats including mall-based free-standing strip center and outlet store locations. The Company operated approximately 3579 stores and kiosks across 4.8 million square feet of retail space.

Signet Jewelers Ltd.

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