Signet Jewelers (SIG): Valuation Pressure May Continue - Cowen

August 26, 2016 6:32 AM EDT
Get Alerts SIG Hot Sheet
Price: $80.01 -1.14%

Rating Summary:
    17 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Cowen analyst, Oliver Chen, reiterated his Outperform rating on Signet Jewelers (NYSE: SIG) after the company missed 2Q comps & guided FY17 down ~-13% on FY comps of -2.5% to -1.0% implying neg. 2H comps. Problems driving weaker outlook were numerous, including: oil market weakness neg. impacting regional demand, election year uncertainty, & Brexit. Meanwhile, the Jared comp of -7.6% shows fundamental issues as SIG works to drive better customer segmentation.

The price target drops to $96 from $130 on 11x revised FY18E EPS.

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 $83.44 yesterday.

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