Barclays Adjusts Estimates on Signet Jewelers (SIG) After Q2 Review

May 25, 2012 12:51 PM EDT
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Barclays maintains an 'Equalweight' on Signet Jewelers (NYSE: SIG) price target of $55.00.

Analyst, Jessica Schoen, said, "Signet reported 1Q12 EPS of $0.96, above our estimate of $0.90: Comps increased 1.2% in the quarter, with 1.2% increases in both the U.S. and the U.K. We would note that the U.S. comp was negatively impacted by (440) basis points due to the shift of the Mother's Day event."

"We are increasing our 2012 and 2013 EPS estimates to $4.20 and $4.60 from $4.15 and $4.55, taking into consideration more a cautious view for 2Q, offset by a lower share count."

For an analyst ratings summary and ratings history on Signet Jewelers click here. For more ratings news on Signet Jewelers click here.

Shares of Signet Jewelers closed at $44.01 yesterday.

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