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Signet (SIG) Beats on Q4 Earnings & Sales Estimates


Signet Jewelers Limited SIG, retailer of diamond jewelry, watches, and other products came out with its fourth-quarter fiscal 2018 results, wherein adjusted earnings came in at $4.28 per share and outpaced the Zacks Consensus Estimate of $4.26.

Management envisions adjusted earnings per share in the range of $3.75-$4.25 for fiscal 2019.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2019 has witnessed downward revisions over the past 30 days. In the trailing four quarters (excluding the quarter under review), the company underperformed the Zacks Consensus Estimate by an average of 4.1%.

Signet Jewelers Limited Price, Consensus and EPS Surprise

Signet Jewelers Limited Price, Consensus and EPS Surprise | Signet Jewelers Limited Quote

Revenues: Signet generated total revenue of $2,293.1 million that climbed 1% year over year, and also came above the Zacks Consensus Estimate of $2,287 million. However, same store sales dropped 5.2%. Management expects fiscal 2019 same store sales to decline in the low-to-mid single-digit percentage. Further, total sales are projected in a band of $5.9 billion-$6.1 billion for the fiscal.

Key Events: Signet repurchased 8.1 million shares for $460 million in fiscal 2018. As of Feb 3, 2018, the company has remaining authorization of $650.6 million under its share repurchase program. Further, management announced quarterly dividend of 37 cents per share for first-quarter fiscal 2019, which reflects a 20% increase and marks the seventh consecutive year of dividend hike. This dividend will be payable on Jun 1, 2018 to shareholders of record on May 4, with an ex-dividend date of May 3.

Zacks Rank: Currently, Signet carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Check back later for our full write up on Signet’s earnings report!

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