Barclays Maintains an 'Equalweight' on Signet Jewelers (SIG); Review of 3Q11
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Price: $81.02 --0%
Rating Summary:
13 Buy, 13 Hold, 1 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
13 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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Barclays maintains an 'Equalweight' on Signet Jewelers (NYSE: SIG) price target of $49.00.
Barclays analyst says, "Signet reported 3Q11 EPS of $0.30, above our estimate and consensus of $0.21: Upside was driven by better than expected gross margin expansion and SG&A leverage...Total sales increased 10.7% to $710.5 million, driven by a 10.6% comp store sales increase: Comps increased 13.9% in the U.S. and decreased (0.5)% in the U.K. Comps in the U.S. were aided by a watch promotion, which helped Jared comps by 8% and the overall U.S. comp by 3%. Solid trends seemed to have continued through the beginning of November. Non-bridal exclusive and differentiated brands outperformed in the U.S."
"Importantly, during 3Q11 Signet announced a repurchase program and plans to
announce the details of its 4Q dividend on January 10. Given solid top line
momentum and continued margin improvement, we are increasing our 2011 and
2012 EPS estimates to $3.70 and $4.10, from $3.60 and $3.75, respectively."
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 $43.42 yesterday.
Barclays analyst says, "Signet reported 3Q11 EPS of $0.30, above our estimate and consensus of $0.21: Upside was driven by better than expected gross margin expansion and SG&A leverage...Total sales increased 10.7% to $710.5 million, driven by a 10.6% comp store sales increase: Comps increased 13.9% in the U.S. and decreased (0.5)% in the U.K. Comps in the U.S. were aided by a watch promotion, which helped Jared comps by 8% and the overall U.S. comp by 3%. Solid trends seemed to have continued through the beginning of November. Non-bridal exclusive and differentiated brands outperformed in the U.S."
"Importantly, during 3Q11 Signet announced a repurchase program and plans to
announce the details of its 4Q dividend on January 10. Given solid top line
momentum and continued margin improvement, we are increasing our 2011 and
2012 EPS estimates to $3.70 and $4.10, from $3.60 and $3.75, respectively."
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 $43.42 yesterday.
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