Signet (SIG) closed the latest trading day at $97.92, indicating a -0.68% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.02%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq lost 0.26%.
The jewelry company's shares have seen a decrease of 0.94% over the last month, not keeping up with the Retail-Wholesale sector's gain of 3.9% and the S&P 500's gain of 2.99%.
The investment community will be closely monitoring the performance of Signet in its forthcoming earnings report. The company is scheduled to release its earnings on December 5, 2024. The company's upcoming EPS is projected at $0.29, signifying a 20.83% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.36 billion, down 2% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $10.80 per share and a revenue of $6.84 billion, demonstrating changes of +4.15% and -4.59%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Signet. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate has remained steady. Right now, Signet possesses a Zacks Rank of #3 (Hold).
Investors should also note Signet's current valuation metrics, including its Forward P/E ratio of 9.13. This valuation marks a discount compared to its industry's average Forward P/E of 20.26.
One should further note that SIG currently holds a PEG ratio of 1.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Retail - Jewelry industry stood at 2.13 at the close of the market yesterday.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 204, which puts it in the bottom 20% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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