Signet (SIG) closed at $92.84 in the latest trading session, marking a -0.83% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.22%. Elsewhere, the Dow saw a downswing of 0.33%, while the tech-heavy Nasdaq appreciated by 0.76%.

The the stock of jewelry company has fallen by 6.62% in the past month, lagging the Retail-Wholesale sector's loss of 0.42% and the S&P 500's gain of 1.47%.

Market participants will be closely following the financial results of Signet in its upcoming release. On that day, Signet is projected to report earnings of $0.29 per share, which would represent year-over-year growth of 20.83%. Simultaneously, our latest consensus estimate expects the revenue to be $1.36 billion, showing a 2% drop compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of $10.80 per share and a revenue of $6.84 billion, demonstrating changes of +4.15% and -4.59%, respectively, from the preceding year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Signet. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Signet holds a Zacks Rank of #3 (Hold).

In the context of valuation, Signet is at present trading with a Forward P/E ratio of 8.67. This indicates a discount in contrast to its industry's Forward P/E of 19.84.

It's also important to note that SIG currently trades at a PEG ratio of 1.06. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Retail - Jewelry was holding an average PEG ratio of 2.09 at yesterday's closing price.

The Retail - Jewelry industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 199, placing it within the bottom 22% of over 250 industries.