In the latest market close, Signet (SIG) reached $104.13, with a +1.49% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.3%. Meanwhile, the Dow experienced a rise of 0.99%, and the technology-dominated Nasdaq saw an increase of 0.27%.
Shares of the jewelry company witnessed a gain of 11.69% over the previous month, beating the performance of the Retail-Wholesale sector with its gain of 3.51% and the S&P 500's gain of 2.1%.
Analysts and investors alike will be keeping a close eye on the performance of Signet in its upcoming earnings disclosure. The company's earnings report is set to go public on December 5, 2024. The company is forecasted to report an EPS of $0.29, showcasing a 20.83% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.36 billion, indicating a 2% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $10.80 per share and a revenue of $6.84 billion, indicating changes of +4.15% and -4.59%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Signet. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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.
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 remained unchanged. As of now, Signet holds a Zacks Rank of #3 (Hold).
Digging into valuation, Signet currently has a Forward P/E ratio of 9.5. This represents a discount compared to its industry's average Forward P/E of 21.05.
It is also worth noting that SIG currently has a PEG ratio of 1.16. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Retail - Jewelry industry currently had an average PEG ratio of 2.25 as of yesterday's close.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 167, placing it within the bottom 34% of over 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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