Signet Jewelers Ltd. (SIG) Releases Earnings Results, Beats Expectations By $0.01 EPS

Signet Jewelers Ltd. (SIG) reported quarterly earnings results on Thursday, May-26-2016. The company said it had a profit of $1.95 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $1.94. The company posted revenue of $1583.10 million in the period, 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.

Many Wall Street Analysts have commented on Signet Jewelers Ltd.. 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.

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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