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SIG

Signet Jewelers

$51.99

-0.3 (-0.57%)

17:26
12/01/17
12/01
17:26
12/01/17
17:26

Signet Jewelers says CFPB recommending legal action be taken against company

On September 6, 2017, the Consumer Financial Protection Bureau notified Signet that, in accordance with the CFPB's discretionary Notice and Opportunity to Respond and Advise process, the CFPB's Office of Enforcement is considering recommending that the CFPB take legal action against Signet, alleging that Signet violated SectionSection 1031 and 1036 of the Consumer Financial Protection Act of 2010, 12 U.S.C. SectionSection 5531, 5536, and the Truth in Lending Act, 15 U.S.C. Section 1601 et seq., and its implementing regulation, relating to in-store: credit practices, promotions, and payment protection products. The purpose of a NORA letter is to provide a party being investigated an opportunity to present its position to the CFPB before an enforcement action is recommended or commenced. This notice stems from an inquiry that commenced in late 2016 when Signet received and responded to an initial Civil Investigative Demand. Signet has cooperated and continues to fully cooperate with the CFPB. On September 27, 2017, Signet submitted a response to the NORA letter to the CFPB, which stated its belief that the potential claims lack merit. The Attorney General for the State of New York is investigating similar issues under its jurisdiction. Signet has been cooperating with the NYAG's investigation which remains ongoing. Signet continues to believe that its acts and practices relating to the matters under investigation are lawful. Signet is currently unable to predict the timing or outcome of the NORA process or NYAG investigation and no possible loss or range of losses, if any, arising from the investigations is able to be estimated.

  • 23

    Jan

  • 24

    Jan

SIG Signet Jewelers
$51.99

-0.3 (-0.57%)

11/22/17
RBCM
11/22/17
NO CHANGE
Target $60
RBCM
Outperform
Signet Jewelers price target lowered to $60 from $66 at RBC Capital
RBC Capital analyst Brian Tunick lowered his price target on Signet Jewelers to $60, saying the Q3 earnings miss questions the managements credibility considering that the 47% stock price appreciation since Q2 was driven by bullish company meetings. The analyst says that while Q3 results were not confidence inspiring, the recovery in comps and upcoming potential catalysts justify an Outperform rating.
11/22/17
NEED
11/22/17
NO CHANGE
Target $60
NEED
Buy
Signet Jewelers price target lowered to $60 from $74 at Needham
Needham analyst Rick Patel lowered his price target on Signet Jewelers to $60 after a Q3 earnings miss that led to a stock price plunge of 30%. Patel says the decline was driven by surprising credit-transition headwinds, the cut in guidance, and lower visibility. While the company outlook suggests that these issues may linger and underlying demand for jewelry remains weak, writes the analyst in his research note, the stock now trades within parity of its trough PE valuation. Patel keeps his Buy rating, saying "risk/reward favors upside for investors willing to wait".
11/22/17
NOMU
11/22/17
NO CHANGE
Target $64
NOMU
Buy
Signet Jewelers price target lowered to $64 from $73 at Nomura Instinet
Nomura Instinet analyst Simeon Siegel lowered his price target for Signet Jewelers to $64 after the company cut its outlook. The analyst, however, maintains a Buy rating on the shares. With the stock trading at eight times his lowered fiscal 2019 earnings estimate, the analyst believes Signet's valuation "should provide downside support and with favorable risk reward."
11/21/17
WELS
11/21/17
DOWNGRADE
Target $60
WELS
Market Perform
Wells Fargo downgrades Signet Jewelers after 'another stumble'
Wells Fargo analyst Ike Boruchow downgraded Signet Jewelers to Market Perform from Outperform and cut his price target for the shares to $60 from $75. This morning's Q3 earnings report is "another stumble during what has been a very challenging past 18 months," Boruchow tells investors in a post-earnings research note. He believes the company's "meaningful distractions" from new credit arrangements make the shares "extremely difficult to own for the time being." The diamond jewelry retailer is down 29%, or $21.76, to $54.08 in afternoon trading.

TODAY'S FREE FLY STORIES

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CoStar Group

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ROG

Rogers Corporation

$158.59

1.4 (0.89%)

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Rogers Corporation

$158.89

1.7 (1.08%)

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HDP

Hortonworks

$19.76

0.18 (0.92%)

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CACC

Credit Acceptance

$326.25

3.97 (1.23%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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RL

Ralph Lauren

$96.15

-3.99 (-3.98%)

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TGT

Target

$61.58

0.555 (0.91%)

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TMUS

T-Mobile

$63.48

0.41 (0.65%)

, T

AT&T

$37.75

-0.35 (-0.92%)

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TMUS

T-Mobile

$63.48

0.41 (0.65%)

T

AT&T

$37.75

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ROKU

Roku

$46.95

-1.03 (-2.15%)

CMCSA

Comcast

$39.51

1.07 (2.78%)

CMCSK

Comcast

CHTR

Charter

$329.99

-1.5 (-0.45%)

VZ

Verizon

$52.82

-0.375 (-0.71%)

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LITE

Lumentum

$51.75

-1.75 (-3.27%)

, FNSR

Finisar

$19.30

-0.51 (-2.57%)

11:09
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LITE

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$51.75

-1.75 (-3.27%)

FNSR

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$19.30

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AAPL

Apple

$171.70

-0.97 (-0.56%)

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NFLX

Netflix

$185.73

-0.49 (-0.26%)

11:09
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Netflix executive fired over Masterson assault comments, Page Six says »

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TGT

Target

$61.64

0.62 (1.02%)

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Technical View: Target spikes after acquiring Shipt for $550M »

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TGT

Target

$61.70

0.68 (1.11%)

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TGT

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$61.69

0.67 (1.10%)

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TGT

Target

$61.72

0.71 (1.16%)

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AYI

Acuity Brands

$165.44

-8.79 (-5.05%)

10:59
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10:52
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Conference/Events
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VIPS

Vipshop

$8.30

0.115 (1.41%)

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NVS

Novartis

$84.72

0.2568 (0.30%)

10:45
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  • 18

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TRN

Trinity Industries

$37.45

0.57 (1.55%)

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ALL

Allstate

$103.58

0.0401 (0.04%)

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10:40
12/13/17
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