Market's view on SIG
Published on April 2024
- Stock watchers have commented on a profit downturn, rising debt, and an earnings per share loss of 3.8p.
- Concerns were raised about an additional concealed profit warning, referencing the company’s outlook which anticipates continued market softness in 2024.
- RBC has initiated coverage of SIG with a ‘sector perform’ rating and a price target of 35 pence.
- Stock watchers note the arrival of a new CEO who has initiated a clear out, suggesting it may be time for the company to present a more attractive face to the markets.
- There is speculation about a potential profit warning and general negative sentiment about the company’s current outlook.
- Positive movements were noted at the CME which could be good news for the company.
- A stock watcher has switched their investment to WJG from the company in discussion.
- FY underlying operating profit expectations have been adjusted to between £50m and £55m, down from previous guidance.
- Discussion about unusual trading activity involving the buying of 100 shares of Sig every 10 seconds.
- A profit warning has been issued regarding weak demand for the rest of the year, leading to a switch to CURY.