||COMMON SHS USD0.18
||EPS - Basic
||Market Cap (m)
|billbyrne: That's it then, its a done deal. Share price up over 3%.|
|master rsi: Signet back in the black with profit of £10.9m
Signet Global Fixed Income Strategies reports a profit of £10.9m for the year to the end of December compared with a loss of £23.0m in 2008.
The firm had cash and cash equivalents of £1.6m at the year end compared with £167,418 last time.
The firm said its performance in 2009 was encouraging with total equity as at 31 December of £96.2 million and no borrowings.
Net asset value rose 14.7% with positive returns in 10 out of the 12 months and the discount to NAV narrowed, resulting in share price return of 22.5%.|
|25babies: Nice to read the GS forecast in the light of a doubling of the share price in the last 2 months. Has the rapd movement been solely the result of sorting out loan and funding issues? Is there something else afoot. Even thinking about selling and making a small profit - long time since I even had that option on my portfolio.|
|jay206: what happened with this share price?|
|wyorke: this share price hold at 60-70p area,
some city broker say 70-80p, some USA bank say 50-60p,
so it is fair price at now.(62p)|
|25babies: Panmure says sell - the share price goes up over 20% since.
Don't you 'love' the experts.|
|m.t.glass: Harsh broker notes this morning - but share price not reflecting them so far..
STOCKWATCH Signet shares lower; SG cuts to 'sell'; Panmure cuts price target
LONDON (Thomson Financial) - Shares in Signet Group were slightly lower midmorning after SG Securities cut its recommendation to 'sell' from 'hold' and Panmure Gordon cut its price target to 50 pence, from 60, following the company's results yesterday.
At 10.22 am, Signet shares were down 1/4 penny at 55-1/2 pence. The FTSE 250 was down 37.6 points at 9,763.0.
Yesterday, at 12.30 pm, Signet reported that for the eight weeks to Dec 29
-- the bulk of Signet's fourth quarter -- group sales on a like-for-like basis,
which strips out the impact of new and closed stores, fell 6.8 pct.
Within this, like-for-like sales in the US, where the group makes three
quarters of annual sales, were down 8.1 pct, while UK like-for-like sales at H
Samuel and Ernest Jones fell 3.1 pct -- a worse than expected outcome in both
It also revealed that the domicile of the group is under review, as US
investors own nearly 50 pct.
SG said in a note this morning that it had downgraded as the near term
trading outlook is bleak as jewellery appears to be underperforming an already
soft retail market, and a further sharp decline in profits seems probable.
It said it was now forecasting a 25 pct fall in pretax profits for the year
to January 2009, to 262 mln usd. SG said it anticipates further bad news in the
first half of 2008.
SG cut its target price to 45 pence, from 70.
In other reaction this morning, Panmure Gordon said Signet's US sales and
margin were in line with its expectations, but the slowdown in the UK has led it
to trim its forecasts by 5 pct for 2008 and 10 pct for 2009.
Panmure said that given the consumer outlook on both sides of the Atlantic,
and the challenges Signet faces in repositioning on price in the year ahead, it
continue to be cautious on the stock.
It said a 6 pct+ dividend yield could support the shares around the current
level, but downside risks to estimates remain, and so it retained its 'sell'
Yesterday, Signet shares rose 1-1/2 pence to close at 55-3/4.
|eastbourne1982: can see if dropping around 18% today and the results basically included a profit warning,
to a certain extent this seemed to be priced into the share price|
|master rsi: Yesterday's trading: Signet stock shines
Geoff Foster, Daily Mail
28 March 2007
Morgan Stanley put a shine on the Signet share price by giving clients an 18 carat gold reason to buy the world's largest speciality retail jeweller.
It jumped 5¼p to 123¾p as the American broker upgraded to overweight and lifted its target price to 135p because it feels there is a chance that the long mooted merger with US peer Zales will come to fruition. If so, the deal would transform the Signet investment case, sending fair value as high as 160p a share.
Zales has hit the market with two profit warnings since original £2.5bn merger talks with Signet were terminated some nine months ago. Signet has kept a close eye on Zales deteriorating trading performance and now would seem a good time to reopen negotiations.
Analysts say it is the only logical buyer and synergies between the two are obvious. They both target a similar customer base and have some of the similar real estate in America. Opportunities for cost savings post a merger would be great through store closures.
Signet should get a move on. It could buy Zales to fend off another possible bid for itself. Private equity firms Apax and KKR abandoned plans for a £2.5bn takeover last year, but other cash-rich players could well be interested. Former chief executive Gerald Ratner last year had a £350m offer for its UK chains - H.Samuel and Ernest Jones - rebuffed.|
|master rsi: On this mid morning Telegraph. com ...........
Signet climbs to top of FTSE 250
UK stock markets drifted in early dealings, with the FTSE 100 shedding 45.9 to 5886.2 and the FTSE 250 easing 26.4 to 9367.6. Volumes were on the subdued side due to the summer holiday.
Still, there were plenty of stories to generate dealers' interest. Broadcaster ITV was again a good riser, up 2.5pc at 104p as rumours persisted that chief executive Charles Allen is likely to step down as early as next week in a move which would lead to a major reshuffle. There are also hopes that the group is still a takeover target, for a private equity predator or Roger Parry, the chairman of Johnston Press.
Wm Morrison posted the biggest gain for a blue-chip stock, up 5pc at 216p as the supermarket group's sales update pleased investors.
However, interim figures from chemical company ICI and consumer products group Unilever did not go down as well. ICI slid 4pc to 361p and Unilever retreated 4pc to £12.36.
Signet climbed to the top of the FTSE 250 leaderboard, surging 18pc to 120p after private equity firms Apax Partners and Kohlberg Kravis Roberts said they were considering a bid for the owner of high-street stores H Samuel and Ernest Jones. Dealers speculated an offer would be pitched at around 132p a share. In June, Signet admitted it had held merger talks with US rival Zale, although these talks ended just a few days later.
Engineer Cookson, which posted good interim figures yesterday but eased on profit taking, edged up 4pc to 528p. Merrill Lynch said the sharp decline in the share price was "unwarranted" and it upgraded its rating on the stock from neutral to buy with a 610p target.
Defence group Ultra Electronics shed 4pc to 982p. Credit Suisse repeated its underperform rating on the stock.|
Signet Jewelers share price data is direct from the London Stock Exchange