J C Penney Company Inc (JCP) Expected to Announce Earnings of -$0.39 Per Share

Wall Street analysts expect J C Penney Company Inc (NYSE:JCP) to report earnings per share (EPS) of ($0.39) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for J C Penney’s earnings. The lowest EPS estimate is ($0.56) and the highest is ($0.33). J C Penney reported earnings of ($0.22) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 77.3%. The business is scheduled to report its next earnings report on Thursday, May 16th.

On average, analysts expect that J C Penney will report full-year earnings of ($0.72) per share for the current financial year, with EPS estimates ranging from ($0.82) to ($0.65). For the next fiscal year, analysts expect that the business will post earnings of ($0.38) per share, with EPS estimates ranging from ($0.78) to $0.02. Zacks’ EPS averages are an average based on a survey of analysts that cover J C Penney.

J C Penney (NYSE:JCP) last issued its quarterly earnings data on Thursday, February 28th. The department store operator reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.03. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.79 billion. J C Penney had a negative net margin of 2.12% and a negative return on equity of 24.80%. During the same quarter in the previous year, the firm posted $0.57 earnings per share.

JCP has been the subject of a number of recent research reports. B. Riley set a $2.00 price objective on shares of J C Penney and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Zacks Investment Research raised shares of J C Penney from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Finally, Citigroup initiated coverage on shares of J C Penney in a research note on Thursday, December 20th. They issued an “underweight” rating for the company. Five analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $2.78.

Several hedge funds have recently modified their holdings of the company. Texas Permanent School Fund increased its position in shares of J C Penney by 4.2% during the fourth quarter. Texas Permanent School Fund now owns 206,393 shares of the department store operator’s stock worth $215,000 after purchasing an additional 8,320 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in J C Penney by 13.6% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 79,550 shares of the department store operator’s stock valued at $83,000 after purchasing an additional 9,500 shares during the last quarter. Capstone Financial Advisors Inc. boosted its holdings in J C Penney by 100.0% in the third quarter. Capstone Financial Advisors Inc. now owns 20,000 shares of the department store operator’s stock valued at $33,000 after purchasing an additional 10,000 shares during the last quarter. Actinver Wealth Management Inc. purchased a new stake in shares of J C Penney during the 4th quarter worth about $48,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of J C Penney by 16.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 88,150 shares of the department store operator’s stock worth $92,000 after acquiring an additional 12,253 shares in the last quarter. 71.79% of the stock is currently owned by institutional investors and hedge funds.

NYSE:JCP traded up $0.03 during trading hours on Friday, reaching $1.28. The company’s stock had a trading volume of 1,404,679 shares, compared to its average volume of 7,887,175. The company has a market capitalization of $401.79 million, a price-to-earnings ratio of -1.36 and a beta of 1.10. J C Penney has a 12 month low of $0.92 and a 12 month high of $3.20. The company has a quick ratio of 0.27, a current ratio of 1.52 and a debt-to-equity ratio of 3.35.

J C Penney Company Profile

J. C. Penney Company, Inc, through its subsidiary J. C. Penney Corporation, Inc, sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services.

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

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