J C Penney (JCP) Announces Earnings Results

J C Penney (NYSE:JCP) announced its quarterly earnings results on Tuesday. The department store operator reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.07), Morningstar.com reports. J C Penney had a negative net margin of 2.12% and a negative return on equity of 24.80%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm posted ($0.22) EPS. The business’s quarterly revenue was down 5.6% compared to the same quarter last year.

Shares of JCP stock opened at $1.15 on Tuesday. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.27 and a current ratio of 1.52. The firm has a market capitalization of $362.24 million, a PE ratio of -1.22 and a beta of 1.05. J C Penney has a 12 month low of $0.92 and a 12 month high of $3.16.

A number of research analysts have weighed in on JCP shares. Zacks Investment Research raised shares of J C Penney from a “hold” rating to a “buy” rating and set a $1.50 price target on the stock in a research note on Tuesday, April 30th. B. Riley set a $2.00 price target on shares of J C Penney and gave the company a “hold” rating in a research note on Tuesday, February 26th. Six investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. J C Penney currently has an average rating of “Hold” and an average price target of $2.58.

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in J C Penney by 4.4% during the third quarter. Bank of New York Mellon Corp now owns 5,434,509 shares of the department store operator’s stock worth $9,022,000 after buying an additional 230,920 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in J C Penney by 50.7% during the third quarter. MetLife Investment Advisors LLC now owns 215,154 shares of the department store operator’s stock worth $357,000 after buying an additional 72,338 shares during the last quarter. Legal & General Group Plc increased its holdings in J C Penney by 8.1% during the third quarter. Legal & General Group Plc now owns 1,113,897 shares of the department store operator’s stock worth $1,865,000 after buying an additional 83,625 shares during the last quarter. Virtu Financial LLC increased its holdings in J C Penney by 36.7% during the fourth quarter. Virtu Financial LLC now owns 234,124 shares of the department store operator’s stock worth $244,000 after buying an additional 62,857 shares during the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV increased its holdings in J C Penney by 13.6% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 79,550 shares of the department store operator’s stock worth $83,000 after buying an additional 9,500 shares during the last quarter. 73.25% of the stock is currently owned by institutional investors and hedge funds.

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About J C Penney

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 for J C Penney (NYSE:JCP)

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