Signet Jewelers Limited (SIG) is set to release its second-quarter earnings results before the market opens on Tuesday, September 2nd. Analysts are anticipating a slight dip in earnings per share compared to the same period last year, projecting $1.24 per share versus $1.25. Revenue is expected to reach $1.5 billion, a modest increase from the $1.49 billion reported in Q2 of the previous year. This forecast comes from Benzinga Pro’s data aggregation of Wall Street predictions.
The company recently made some key leadership changes, announcing Julie Yoakum as the new President of Kay Jewelers and Peoples Jewellers, Stacee Johnson-Williams as Chief Merchandise Operations and Sourcing Officer, and Lisa Laich as Chief Marketing Officer. These appointments could potentially influence the company’s performance in the coming quarters.
Signet Jewelers’ stock closed at $88.05 on Friday, down 2% for the day. Let’s delve into the predictions from some of Wall Street’s most accurate analysts to get a clearer picture of what to expect.
Several prominent analysts have weighed in on Signet Jewelers recently. Dana Telsey of Telsey Advisory Group maintained a Market Perform rating with a $92 price target (65% accuracy rate). Randal Konik of Jefferies initiated coverage with a Buy rating and a $102 price target (60% accuracy rate). Paul Lejuez of Citigroup kept a Buy rating, raising the price target from $85 to $100 (65% accuracy rate). Ike Boruchow of Wells Fargo maintained an Equal-Weight rating, increasing the price target from $70 to $75 (74% accuracy rate). Lastly, Lorraine Hutchinson of B of A Securities held a Neutral rating, while raising the price target from $65 to $78 (66% accuracy rate).
This range of opinions highlights the uncertainty surrounding Signet Jewelers’ Q2 performance. While some analysts express optimism, others maintain a more cautious stance. Investors should carefully consider these differing perspectives and conduct their own thorough research before making any investment decisions.
For those interested in a deeper dive into analyst ratings and other market data, Benzinga Pro provides a comprehensive platform to explore various financial metrics and insights. Remember, this information is for informational purposes only and should not be considered investment advice. Always consult with a qualified financial advisor before making any investment decisions.
