Signet (SIG) closed the most recent trading day at $94.76, moving +2.7% from the previous trading session. This change outpaced the S&P 500's 0.54% gain on the day. Meanwhile, the Dow experienced a rise of 1.05%, and the technology-dominated Nasdaq saw an increase of 0.56%.
Shares of the jewelry company have appreciated by 7.15% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 3.66%, and the S&P 500's gain of 0.74%.
Market participants will be closely following the financial results of Signet in its upcoming release. It is anticipated that the company will report an EPS of $5.87, marking a 11.33% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.33 billion, down 0.92% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $9.22 per share and a revenue of $6.8 billion, demonstrating changes of +3.13% and 0%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Signet. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Signet is carrying a Zacks Rank of #2 (Buy).
With respect to valuation, Signet is currently being traded at a Forward P/E ratio of 10.01. This signifies a discount in comparison to the average Forward P/E of 20.09 for its industry.
Investors should also note that SIG has a PEG ratio of 1.13 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Retail - Jewelry industry held an average PEG ratio of 2.46.
The Retail - Jewelry industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 68, positioning it in the top 28% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Signet Jewelers Limited (SIG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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