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News Breaks
March 27, 2014
11:19 EDTZLC, NILE, SIG, TIFSignet Jewelers hits 52-week high after quarterly results top estimates
Shares of specialty jeweler Signet Jewelers (SIG) are advancing after the company's fourth quarter results topped expectations. WHAT'S NEW: This morning, Signet Jewelers reported fourth quarter earnings per share of $2.18 and revenue of $1.56B, compared to expectations of $2.15 and $1.55B, respectively. The company reported Q4 same store sales rose 4.3%, with Kay brand SSS up 4.9%, Jared SSS up 4.1% and Regional brands SSS down 3.1%. WHAT'S NOTABLE: On February 19, Signet agreed to acquire Zale Corporation (ZLC) for $21.00 per share in cash. Signet Jewelers forecast Q1 EPS ex-acquisition costs of $1.24-$1.28, compared to consensus $1.28. The company sees acquisition costs impacting Q1 EPS by 10c-8c, resulting in total first quarter EPS in the range of $1.14-$1.20. The recently announced acquisition of Zale will result in the realization of incremental expenses prior to the close of the transaction, as the final close date is dependent upon Zale stockholder and regulatory approval and the satisfaction of closing conditions. Signet anticipates Q1 SSS to rise 3%-4%. The company also raised its quarterly dividend to 18c from 15c per share. PRICE ACTION: In late morning trading, Signet Jewelers rose $6.56, or 6.6%, to $104.87 on nearly twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $107.38. The stock is up over 65% over the past twelve months. OTHERS TO WATCH: Other companies in the jewelry space include Tiffany & Co. (TIF) and Blue Nile (NILE).
News For SIG;ZLC;TIF;NILE From The Last 14 Days
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December 16, 2014
10:06 EDTTIFTiffany initiated with an Outperform at Cowen
Target $123.
December 8, 2014
10:11 EDTSIGHigh option volume stocks
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