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Signet Jewelers Shares Up 5.6% on Earnings Beat (SIG)

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Signet Jewelers (NYSE:SIG) shares shot up 5.6% during trading on Tuesday following a stronger than expected earnings report, Analyst Ratings Net reports. The stock traded as high as $134.62 and last traded at $129.90, with a volume of 1,816,030 shares traded. The stock had previously closed at $122.99.


The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company's revenue for the quarter was up 52.7% on a year-over-year basis.


A number of research firms have recently commented on SIG. Analysts at Barclays raised their price target on shares of Signet Jewelers from $120.00 to $130.00 in a research note on Friday, November 21st. They now have an 'overweight' rating on the stock. Separately, analysts at Zacks downgraded shares of Signet Jewelers from an 'outperform' rating to a 'neutral' rating in a research note on Tuesday, October 28th. They now have a $122.40 price target on the stock. Finally, analysts at Nomura raised their price target on shares of Signet Jewelers to $133.00 in a research note on Friday, October 24th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Signet Jewelers currently has a consensus rating of 'Hold' and an average target price of $128.03.


The stock's 50-day moving average is $116. and its 200-day moving average is $111.0. The company has a market cap of $10.555 billion and a price-to-earnings ratio of 27.19.


Signet Jewelers Limited ( NYSE:SIG) is a specialty retail jeweler by sales in the United States and United Kingdom, and also has stores in the Republic of Ireland and Channel Islands.


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