Signet Jewelers (SIG) Has 'Had a Solid Q3' - UBS

UBS analyst Mauricio Serna reiterated a Buy rating and $110.00 price target on Signet Jewelers (NYSE: SIG).

The analyst commented, "Our industry checks and analyses indicate SIG had a solid Q3. We thus forecast a 5c Q3 EPS beat. However, we believe the stock's move will be dictated by SIG's Q4 outlook and QTD commentary. We anticipate below-consensus Q4 EPS guidance due to elevated India tariffs. We believe the market has a similar view and see this priced in given the stock's 13.2% decline over the last month vs the S&P 500's -2.8% move. Regarding 4QTD, we don't have a strong view on what SIG will say. We believe positive or negative commentary could swing sentiment in either direction. This is a key reason we expect a high-volatility event. The options market is pricing in a +/- 11.2% jump over the event vs. an +/- 11.0% historical avg. move. We agree with the options market view."

For an analyst ratings summary and ratings history on Signet Jewelers click here. For more ratings news on Signet Jewelers click here.

Shares of Signet Jewelers closed at $91.67 yesterday.

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