Citi opens ’30 day negative Catalyst Watch’ on Signet Jewelers ahead of earnings
The Fly

Citi opens ’30 day negative Catalyst Watch’ on Signet Jewelers ahead of earnings

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

See today’s best-performing stocks on TipRanks >>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App