SIG - This Value Stock Just Surprised Investors With a Monster Buyback. Is It a Buy?
2024-04-06 12:30:00 ET
Shares of Signet Jewelers (NYSE: SIG) , the world's largest diamond jewelry retailer, were soaring on Wednesday after the company delighted investors with a share buyback and raised its guidance to adjust for the diminished share count.
As a result of the buyback, the company is raising its adjusted earnings-per-share guidance from $9.08-$10.48 to $9.90-$11.52, and it will provide an additional boost to fiscal 2026 earnings as it benefits from a full year of a reduced share count.
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This Value Stock Just Surprised Investors With a Monster Buyback. Is It a Buy?