Signet Jewelers Limited (NYSE:SIG) is one of the stocks that Jim Cramer put under a microscope. Cramer mentioned that he has been “keeping track” of the stock for a long time, as he commented:
“Alright, what managed to rally in spite of today’s overall ugly tape? How about Signet Jewelers, the parent of Kay Jewelers, Zales, and Jared? This morning, Signet reported a healthy revenue beat and an enormous earnings beat, management raising their full-year forecast. We like this. Now, you know, I’ve been keeping track of this one for a long time, often speaking with former CEO Gina Drosos… She stepped down in November.”
Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels
Signet Jewelers Limited is a diamond jewelry retailer that provides a wide range of jewelry through brands like Kay, Zales, Jared, Blue Nile, and James Allen, alongside its diamond sourcing and polishing services. Around a year ago, Cramer mentioned the company in an episode of Mad Money and said:
“Now, it’s a very quiet time for corporate earnings, but not on Thursday. At the open, we hear from Signet Jewelers. Signet is a total hot-button story because we’ve seen a terrific string of quarters—until the last one, which was definitely poorly received. I think CEO Gina Drosos has really turned the company around. She’s been on the show many times, and while there are some hiccups, I believe the stock is relatively inexpensive. That said, Signet is such a wild trader that I’d put it in the category of “not for the squeamish.”
Since the above comment, the stock is down over 26%.
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This article is originally published at Insider Monkey.