NEW YORK (TheStreet) -- Shares of Signet Jewelers (SIG) were advancing in mid-afternoon trading on Wednesday ahead of the company's 2017 fiscal second quarter earnings due out before tomorrow's opening bell.
Wall Street is expecting earnings and revenue to rise year-over-year.
Analysts surveyed by Thomson Reuters are projecting that the Hamilton, Bermuda-based jewelry retailer will post earnings of $1.45 per share on revenue of $1.44 billion.
During the same period a year ago, Signet reported adjusted earnings of $1.28 per diluted share on revenue of $1.41 billion.
Deutsche Bank lowered its price target on shares to $140 from $150 and maintained its "buy" rating ahead of the quarterly report.
"While operating performance has been solid, the equity story has been hurt by negative news flow concerning the quality of the credit business and allegation of misconduct on diamond sales/repairs," the firm wrote in a recent note.
"We believe the implications should not affect operating performance beyond short-term volatility," Deutsche Bank added.
The firm expects same-store sale growth of 1.9% during the quarter.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels.
The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SIG