The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
The company is trading at $100.22. The stock is up 13% since it reported a strong set of first-quarter results in May, in which net income jumped by 50% and both the EPS and revenue exceeded analysts’ estimates. The second-largest luxury jewellery retailer in the world receives a large portion of its revenue stream from the Far East, and traders will be wondering whether this trend can continue given the slow in China’s demand for Western goods.
The company’s Atlas Collection was launched this year. The division focuses on silver jewellery such as pendants and rings that are priced below $500, and dealers will expect to see continued growth from this collection.
Equity analysts are bullish on the stock. Out of the 31 recommendations, 15 are buys, 14 are holds and only two are sells. The stock is holding onto the $96 mark but if the results are good the stock may continue to reach record highs. The $105 mark is the next level to watch.