Zacks: Brokerages Anticipate J C Penney Company Inc (JCP) Will Post Earnings of $0.42 Per Share

Equities analysts forecast that J C Penney Company Inc (NYSE:JCP) will announce earnings of $0.42 per share for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for J C Penney’s earnings, with the lowest EPS estimate coming in at $0.37 and the highest estimate coming in at $0.48. J C Penney posted earnings of $0.64 per share during the same quarter last year, which indicates a negative year over year growth rate of 34.4%. The business is expected to announce its next quarterly earnings report on Friday, February 23rd.

According to Zacks, analysts expect that J C Penney will report full year earnings of $0.08 per share for the current financial year, with EPS estimates ranging from $0.02 to $0.12. For the next year, analysts anticipate that the company will post earnings of $0.15 per share, with EPS estimates ranging from ($0.15) to $0.39. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover J C Penney.

J C Penney (NYSE:JCP) last announced its earnings results on Friday, November 10th. The department store operator reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.10. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.77 billion. J C Penney had a negative net margin of 1.43% and a positive return on equity of 7.60%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) EPS.

JCP has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of J C Penney from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Cowen set a $4.00 target price on shares of J C Penney and gave the stock a “hold” rating in a report on Thursday, November 30th. B. Riley set a $4.00 target price on shares of J C Penney and gave the stock a “hold” rating in a report on Monday, October 30th. BMO Capital Markets dropped their target price on shares of J C Penney from $4.00 to $2.75 and set a “market perform” rating on the stock in a report on Monday, October 30th. Finally, Citigroup downgraded shares of J C Penney from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $4.00 to $3.00 in a report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $4.73.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blair William & Co. IL grew its position in J C Penney by 3.1% in the 2nd quarter. Blair William & Co. IL now owns 33,625 shares of the department store operator’s stock worth $156,000 after purchasing an additional 1,000 shares during the last quarter. Pinebridge Investments L.P. acquired a new stake in J C Penney in the 2nd quarter worth $190,000. Piedmont Investment Advisors LLC acquired a new stake in shares of J C Penney during the 2nd quarter valued at about $311,000. Lenox Wealth Management Inc. boosted its position in shares of J C Penney by 93.5% during the 2nd quarter. Lenox Wealth Management Inc. now owns 71,386 shares of the department store operator’s stock valued at $332,000 after acquiring an additional 34,486 shares in the last quarter. Finally, Keel Point LLC boosted its position in shares of J C Penney by 100.0% during the 3rd quarter. Keel Point LLC now owns 108,000 shares of the department store operator’s stock valued at $411,000 after acquiring an additional 54,000 shares in the last quarter. Institutional investors own 72.73% of the company’s stock.

Shares of J C Penney (NYSE:JCP) traded down $0.08 on Friday, reaching $3.61. 21,587,430 shares of the company traded hands, compared to its average volume of 18,190,000. The company has a market cap of $1,120.00, a P/E ratio of -5.92, a PEG ratio of 3.13 and a beta of 0.58. J C Penney has a 12-month low of $2.35 and a 12-month high of $8.00. The company has a quick ratio of 0.16, a current ratio of 1.44 and a debt-to-equity ratio of 3.95.

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About J C Penney

J. C. Penney Company, Inc is a holding company. The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.

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