Citi analyst Paul Lejuez is opening a "30 day negative Catalyst Watch" on Signet Jewelers heading into earnings due on December 6, citing his belief that Q4 guidance is "likely to disappoint." He estimates Q3 EPS of 22c, versus the consensus of 31c, and estimates a comp decline of 9.3%, which is also below consensus, though he contends that "overall 3Q is not an important quarter." However, he believes Signet likely also has seen weaker trends, which will drive management to guide Q4 cautiously. Lejuez has a Neutral rating on Signet shares.
Published first on TheFly
