J C Penney Company Inc (JCP) Expected to Announce Earnings of $0.44 Per Share

Analysts expect that J C Penney Company Inc (NYSE:JCP) will report earnings of $0.44 per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for J C Penney’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.30. J C Penney posted earnings of $0.64 per share in the same quarter last year, which indicates a negative year over year growth rate of 31.3%. The firm is expected to announce its next earnings report on Friday, February 23rd.

On average, analysts expect that J C Penney will report full year earnings of $0.10 per share for the current financial year, with EPS estimates ranging from $0.02 to $0.15. For the next year, analysts expect that the company will post earnings of $0.17 per share, with EPS estimates ranging from ($0.15) to $0.39. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow J C Penney.

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

A number of equities analysts recently issued reports on the company. Piper Jaffray Companies set a $4.00 price target on J C Penney and gave the stock a “hold” rating in a report on Wednesday, January 10th. B. Riley set a $4.00 price target on J C Penney and gave the stock a “hold” rating in a report on Friday, January 5th. Robert W. Baird set a $4.00 price target on J C Penney and gave the stock a “hold” rating in a report on Thursday, January 4th. Zacks Investment Research lowered J C Penney from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Finally, Cowen set a $4.00 price target on J C Penney and gave the stock a “hold” rating in a report on Thursday, November 30th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a strong buy rating to the company. J C Penney presently has a consensus rating of “Hold” and an average price target of $4.78.

A number of large investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. lifted its position in J C Penney by 15.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 4,047,334 shares of the department store operator’s stock valued at $12,790,000 after purchasing an additional 540,236 shares during the period. SG Americas Securities LLC lifted its position in shares of J C Penney by 52.4% during the 3rd quarter. SG Americas Securities LLC now owns 3,585,977 shares of the department store operator’s stock valued at $13,663,000 after acquiring an additional 1,232,229 shares during the period. Ameriprise Financial Inc. lifted its position in shares of J C Penney by 93.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,629,688 shares of the department store operator’s stock valued at $7,577,000 after acquiring an additional 789,312 shares during the period. California Public Employees Retirement System lifted its position in shares of J C Penney by 24.7% during the 3rd quarter. California Public Employees Retirement System now owns 1,544,500 shares of the department store operator’s stock valued at $5,885,000 after acquiring an additional 306,267 shares during the period. Finally, Intrinsic Edge Capital Management LLC lifted its position in shares of J C Penney by 78.2% during the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 1,256,635 shares of the department store operator’s stock valued at $5,843,000 after acquiring an additional 551,645 shares during the period. Hedge funds and other institutional investors own 72.77% of the company’s stock.

J C Penney (JCP) opened at $3.87 on Thursday. The company has a current ratio of 1.44, a quick ratio of 0.16 and a debt-to-equity ratio of 3.95. J C Penney has a twelve month low of $2.35 and a twelve month high of $7.42. The stock has a market capitalization of $1,210.00, a PE ratio of -6.34, a P/E/G ratio of 2.60 and a beta of 0.58.

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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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Earnings History and Estimates for J C Penney (NYSE:JCP)

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