Signet Jewelers Limited (SIG) is set to release its third-quarter earnings results before markets open on Tuesday, December 2, and Wall Street is watching closely to see if the jewelry retailer can maintain the momentum from its impressive second quarter.

Analysts are projecting earnings of 29 cents per share for the quarter, representing a solid improvement from the 24 cents per share reported in the same period last year. Revenue expectations sit at $1.37 billion, slightly ahead of the $1.35 billion generated a year earlier.

The company has recent history of beating expectations. Back on September 2, Signet delivered a strong second-quarter performance with earnings of $1.61 per share, handily surpassing the analyst consensus of $1.23 per share. Quarterly sales came in at $1.53 billion, also topping the $1.50 billion estimate.

The stock closed at $100.16 on Friday, down 3.2% for the session.

How the Most Accurate Analysts See It

Here's what Wall Street's sharpest analysts have been saying about Signet heading into the earnings report:

• Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating with a $92 price target on November 25. This analyst carries a 62% accuracy rate.
• Wells Fargo analyst Ike Boruchow kept an Equal-Weight rating but lifted the price target from $90 to $100 on October 23. This analyst boasts a 71% accuracy rate, the highest among recent coverage.
• Citigroup analyst Paul Lejuez maintained a Buy rating and raised the price target from $100 to $110 on September 3. This analyst has a 65% accuracy rate.
• B of A Securities analyst Lorraine Hutchinson stayed Neutral but increased the price target from $90 to $100 on September 3. This analyst's accuracy rate stands at 61%.
• Jefferies analyst Randal Konik initiated coverage with a Buy rating and $102 price target on June 16. This analyst has a 60% accuracy rate.

The range of perspectives is telling. While several analysts see upside potential with Buy ratings and price targets above current levels, others remain cautious with neutral stances. The most bullish call comes from Citigroup at $110, while Telsey Advisory sits at the conservative end with a $92 target.

What's particularly interesting is the timing of these upgrades. Multiple analysts boosted their price targets shortly after that September earnings beat, suggesting the company's operational performance is changing minds on Wall Street. Whether that optimism proves warranted will become clearer when Signet reports on Tuesday morning.