Signet Jewelers Stock Is Catching Investor Eyes Today: What's Going On?

Signet Jewelers Stock Is Catching Investor Eyes Today: What's Going On?

Signet Jewelers Ltd SIG shares are trading higher Tuesday after the company reported better-than-expected financial results and raised its full-year guidance above analyst estimates.

Signet Jewelers said third-quarter revenue jumped 2.9% year-over-year to $1.58 billion, which beat average analyst estimates of $1.5 billion, according to Benzinga Pro. The company reported third-quarter adjusted earnings of 74 cents per share, which beat estimates of 31 cents per share.

"We are entering this Holiday season with the healthiest and most consumer-inspired inventory in our history -- down 2% despite tiering up our Accessible Luxury offering and with clearance at the lowest levels since our transformation began, excluding acquisitions," said Joan Hilson, chief financial and strategy officer of Signet Jewelers.

Signet sees fourth-quarter revenue between $2.59 billion and $2.66 billion versus estimates of $2.64 billion. The company expects full-year revenue to be between $7.77 billion and $7.84 billion versus estimates of $7.74 billion. 

Signet expects full-year earnings to be in a range of $11.40 to $12 per share versus estimates of $10.90 per share.

See Also: S&P 500, Nasdaq Futures Hold On To Slender Gains As Lack Of Major Trading Cues Keep Sentiment Subdued

SIG Price Action: Signet has a 52-week high of $98.67 and a 52-week low of $48.31.

The stock was up 4.36% at $60.35 at time of publication, according to Benzinga Pro.

Photo: Photo Mix from Pixabay.

Posted In: why it's movingEarningsNewsMoversTrading Ideas