Barclays Q2 Review on Signet Jewelers (SIG): Hit From Rolex and Pandora; Extra Week to Help
Tweet
Share
E-mailGet Alerts SIG Hot Sheet
Price: $82.72 -2.96%
Rating Summary:
13 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
Rating Summary:
13 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 9 | Down: 12 | New: 19
Join SI Premium – FREE
Barclays maintains an 'Equalweight' on Signet Jewelers (NYSE: SIG) price target of $55.00.
Analyst, Jessica Schoen, noted the Q2 beat versus her estimates ($0.85 vs. $0.81). Same-store sales were positively impacted by the shift in Mother's Day (into Q2 from Q1). Kay jewelers saw U.S. store sales up 12.5% and 2.4% at Jared. However negative impacts came from the departure of Rolex and slowing sales of Pandora.
Looking forward, Schoen, said, "We are increasing our 2012 and 2013 EPS estimates to $4.25 and $4.70 from $4.20 and $4.60, with a cautious view for 3Q comp due to the impact of a one-time watch event at Jared. We also note that 4Q12 will contain an extra week, which should result in $50 mm incremental sales, but negatively impact operating profit by $2-$4 million."
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 $46.88 yesterday.
Analyst, Jessica Schoen, noted the Q2 beat versus her estimates ($0.85 vs. $0.81). Same-store sales were positively impacted by the shift in Mother's Day (into Q2 from Q1). Kay jewelers saw U.S. store sales up 12.5% and 2.4% at Jared. However negative impacts came from the departure of Rolex and slowing sales of Pandora.
Looking forward, Schoen, said, "We are increasing our 2012 and 2013 EPS estimates to $4.25 and $4.70 from $4.20 and $4.60, with a cautious view for 3Q comp due to the impact of a one-time watch event at Jared. We also note that 4Q12 will contain an extra week, which should result in $50 mm incremental sales, but negatively impact operating profit by $2-$4 million."
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 $46.88 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nutanix (NTNX) PT Raised to $80 at Oppenheimer Into EPS
- GLJ Research Downgrades Fluence Energy Inc. (FLNC) to Hold
- Deutsche Bank Upgrades Target Hospitality (TH) to Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
BarclaysSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
