Signet Jewelers Ltd. (SIG: 30.15 +0.92 +3.15%) will soon be reporting results from its holiday quarter. Did the demise of some of its competitors boost the bottom line?
Company Description
Signet Jewelers is a specialty jewelry retailer. The company operates 1,948 stores, including 1,394 stores in the U.S. under the names of Kay Jewelers, Jared The Galleria of Jewelry and others.
In the UK, where it operates 554 stores, its brands included H.Samuel, Ernest Jones, and Leslie Davis.
Zacks Consensus Estimates Rise
Signet is scheduled to report fiscal fourth-quarter results on Mar 25.
In the past 2 months, estimates have been rising for the fiscal fourth quarter, the full year and fiscal 2011.
The fourth quarter Zacks Consensus Estimates have risen to $1.20 from $1.11 during that time.
Meanwhile, the fiscal 2010 Zacks Consensus jumped 15 cents to $1.80 per share. This is year over year earnings growth of 14.97%.
One estimate moved higher in the last 30 days for fiscal 2011 to $1.96 from $1.89 per share.
Signet Has a History of Surprising on the Zacks Consensus Estimate
Signet has surprised four quarters in a row by an average of 35.26%. On Nov 24, the company surprised by 52.94% in the fiscal third quarter.
Earnings per share were a loss of 8 cents. Analysts expected things to be much worse, forecasting a loss of 17 cents.
Sales declined 2.5% to $613.7 million. Buy the company saw improvement in the third quarter, especially in the diamond category at both Ernest Jones and H. Samuel stores and also overall at Ernest Jones stores.
Tight inventory controls also boosted the quarter.
With an overall solid holiday period by retailers, there are high expectations for Signet to show similar improvement for the fourth quarter.
Value Fundamentals
Signet is a Zacks #1 Rank (strong buy) stock. It has a forward P/E of 14.7 and a price-to-book ratio of 1.46. The company has a 5-year average return on equity (ROE) of 13.7%.
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