Signet Jewelers Ltd. (SIG) was Initiated by CLSA to “Outperform” and the brokerage firm has set the Price Target at $87. CLSA advised their investors in a research report released on Sep 29, 2016.
Many Wall Street Analysts have commented on Signet Jewelers Ltd.. Shares were Downgraded by JP Morgan on Aug 30, 2016 to ” Neutral” and Lowered the Price Target to $ 90 from a previous price target of $136 .Signet Jewelers Ltd. was Downgraded by Johnson Rice to ” Accumulate” on Aug 29, 2016. Shares were Reiterated by Telsey Advisory Group on Aug 26, 2016 to “Outperform” and Lowered the Price Target to $ 110 from a previous price target of $140 .
On the company’s financial health, Signet Jewelers Ltd. reported $1.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.32 based on the information available during the earnings call on Aug 25, 2016. Analyst had a consensus of $1.46. The company had revenue of $1400.00 million for the quarter, compared to analysts expectations of $1435.46 million. The company’s revenue was down -.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.28 EPS.
Signet Jewelers Ltd. closed down -1.62 points or -2.12% at $74.69 with 18,15,917 shares getting traded on Tuesday. Post opening the session at $76.26, the shares hit an intraday low of $74.14 and an intraday high of $76.31 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Jul 25, 2016, Thomas G Plaskett (director) purchased 300 shares at $88.88 per share price. According to the SEC, on Jul 20, 2016, Sebastian Hobbs (Managing Director, UK) purchased 500 shares at $91.72 per share price. On Jul 20, 2016, Helen Mccluskey (director) purchased 1,000 shares at $89.91 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.