Signet Jewelers gains on annual earnings forecast raise

Signet Jewelers

02/09/2025 14:03

** Shares of Signet Jewelers SIG.N rise 2% premarket to$89.79 after co lifts annual earnings forecasts

** Co sees FY 2026 revenue between $6.67 bln and $6.82 bln, compared with prior forecasts of $6.57 bln-$6.80 bln

** SIG also lifts profit forecasts, now expects 8.04-$9.57/shr vs previous forecasts of $7.70-$9.38

** Results continue to show CEO's strategies to improve marketing and merchandising - Jefferies

** Jefferies says "with valuation compelling and free-cash-flow generation strong...we'd continue to aggressively buy shares"

** Separately, SIG beat estimates for Q2 results

** Co notes if India tariffs are still in effect for the year, it sees the operating income on the middle-lower end of guidance vs if tariffs are removed, expects operating income in the upper half of the range

** Five of nine brokerages rate the stock "buy" or higher, four "hold"; median PT at $92 - LSEG data

** Up to last close, stock up 9.1% YTD

(Reporting by Avinash P)

((Avinash.P@thomsonreuters.com;))