Akron’s Signet Jewelers lowers earnings outlook, stock plunges

Following this ratio, Signet Jewelers Limited (NYSE:SIG) ratio came in at 15.21. The businesses 50 day moving average is 89.02 and its 200 day moving average is 100.01. Company net profit margin stands at 21.70% whereas its return on equity (ROE) is 37.90%. The stock appeared -10.56% below its 52-week highs and is down -6.87% for the last five trades.

Signet Jewelers Limited, the world’s largest retailer of diamond jewelry, said that same-store sales and revenues fell in its fiscal year 2017 second quarter which ended on July 30.

Overall sales for the second quarter were $1.37 billion, down $37.2 million, or 2.6 percent.

Tech Data Corp. (NASDAQ:TECD) released earnings for second quarter that lost ground from past year. The business’s revenue was down.8% compared to the same quarter a year ago.

So what: Signet reported second-quarter revenue of $1.37 billion, down 2.6% year over year and $60 million below the average analyst estimate. The ex-dividend date of this dividend is Wednesday, October 26th.

Downgrades occur when analysts feel that the future prospects for the shares have weakened from the original recommendation, usually due to a material and fundamental change in the company’s operations, future outlook or industry.

Zacks has revised the company’s brokerage rating to 1.36 from last quarter’s 1.36. They now have a Dollars 110 price target on the stock. Cowen and Company restated an outperform rating and set a $96.00 price target (down previously from $130.00) on shares of Signet Jewelers in a report on Friday.

With a market capitalization of $6.1B, Signet Jewelers has a one-year low of $77.00 and a 52 week high of $152.27 with a PE ratio of 12.

The stock is now trading at Distance from 20-Day simple moving Average of -6.88% whereas, Distance from 50-Day Simple moving average is -4.33 Percent and Distance from 200-Day Simple Moving Average of -22.31 percent.

In the past year Signet Jewelers’s stock price has decreased by -30.61% from 120.25 to 83.44. Ltd. now owns 2,953 shares of the company’s stock valued at $243,000 after buying an additional 592 shares in the last quarter. Company has 0.40% insider ownership. According to the SEC, on Jul 20, 2016, Sebastian Hobbs (Managing Director, UK) purchased 500 shares at $91.72 per share price. The stock was bought at an average cost of $88.88 per share, for a total transaction of $26,664.00. The disclosure for this purchase can be found here.

Several institutional investors have recently added to or reduced their stakes in SIG. The company has Relative Strength Index (RSI 14) of 39.70 along with Average True Range (ATR 14) of 3.45. Norges Bank acquired a new position in Signet Jewelers during the fourth quarter valued at about $81,240,000.

Abrams Bison Investments Llc holds 28.3% of its portfolio in Signet Jewelers Ltd. for 3.70 million shares. Finally, Tokio Marine Asset Management Co.