Markets Right Now: Stocks Are Slightly Lower in Early Trade

Total sales were down 2.6%, while total sales at constant exchange rate were down 1.3%. The Zale integration is running well and synergies remain on target. On track to deliver cumulative synergies of $158 million to $175 million by end of this fiscal year and $225 million to $250 million by end of next fiscal year. Net earnings declined 5% from the previous-year period’s $111 million, or $0.86 per diluted share, which excludes a specific charge in that period. “Finally, our credit review process is proceeding according to plan”. “This has contributed to a downward revision in our annual guidance”, Light said.

The company said Thursday that same-store sales for the full fiscal year would drop 1 percent to 2.5 percent.

Signet reported that it had $1.14 in earnings per share (EPS) on $1.4 billion revenues. The firm’s revenue for the quarter was down.8% on a year-over-year basis. In energy-dependent regions of the USA, employment and spending have been hurt by declining oil prices. Select diamond fashion jewelry, bracelets, and earrings sold well. Lower sales of the Charmed Memories collection partially offset the ATV decline. The stock decreased 3.34% or $2.79 on August 26, hitting $80.65. The stock appeared -10.56% below its 52-week highs and is down -6.87% for the last five trades. Zale Jewelry consists of brands, and including Zales Jewelers and Zales Outlet. ATV increased 1.2% driven by higher sales of select diamond jewelry collections. But unlike Signet, which counts on middle America for the bulk of its sales, Tiffany is heavily dependent on foreign tourists, who have been buying less because of the strong dollar.

UK Jewelry’s same store sales increased 0.8%. The Market Capitalization of the company stands at 6.5 Billion.

The stock of Signet Jewelers Limited (NYSE:SIG) registered a decrease of 1.9% in short interest.

In the pre-market trading, the stock dropped $12.03, or 12.6 percent, to $83.47.

The analyst stated that the investment firm has set a price target of 110 on shares of NYSE:SIG. Signet Jewelers has a one year low of $77.00 and a one year high of $152.27. Following this ratio, Signet Jewelers Limited (NYSE:SIG) ratio came in at 15.21. The shares were bought at an average price of $84.75 per share, for a total transaction of $27,543.75. Year to Date performance value (YTD perf) value is -32.06%. Bank of America Corp. reiterated a “buy” rating on shares of Signet Jewelers in a research report on Wednesday, June 8th. The company’s price sits -4.33% below from its 50-day moving average of $88.98 and -22.31% below from the stock’s 200-day moving average of $100.13. ATR value of corporation was 3.45. The company has a market cap of $5.50 billion.

Signet Jewelers Ltd. (NYSE:SIG) now has a PEG ratio of 0.78 where as its P/E ratio is 13.31.

The Standard & Poor’s 500 index was up a point at 2,176. Company has 0.40% insider ownership. Its return on assets (ROA) is 4.00% while return on investment (ROI) is 12.00%.