J C Penney Company Inc (JCP) Expected to Announce Earnings of -$0.56 Per Share

Brokerages expect J C Penney Company Inc (NYSE:JCP) to report earnings of ($0.56) per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for J C Penney’s earnings. The lowest EPS estimate is ($0.64) and the highest is ($0.50). J C Penney posted earnings of ($0.33) per share in the same quarter last year, which would indicate a negative year over year growth rate of 69.7%. The firm is expected to issue its next quarterly earnings results on Friday, November 9th.

On average, analysts expect that J C Penney will report full year earnings of ($0.84) per share for the current fiscal year, with EPS estimates ranging from ($0.91) to ($0.75). For the next year, analysts expect that the company will report earnings of ($0.37) per share, with EPS estimates ranging from ($0.55) to ($0.11). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover J C Penney.

J C Penney (NYSE:JCP) last issued its quarterly earnings data on Thursday, August 16th. The department store operator reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.81 billion. J C Penney had a negative return on equity of 8.98% and a negative net margin of 0.43%. J C Penney’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.09) EPS.

A number of equities research analysts have recently commented on JCP shares. Zacks Investment Research cut shares of J C Penney from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Deutsche Bank cut their target price on shares of J C Penney from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Friday, August 17th. Credit Suisse Group cut their target price on shares of J C Penney from $2.00 to $1.00 and set an “underperform” rating for the company in a research note on Thursday, August 16th. JPMorgan Chase & Co. downgraded shares of J C Penney from a “neutral” rating to an “underweight” rating and set a $10.00 target price for the company. in a research note on Thursday, August 16th. Finally, Telsey Advisory Group cut their target price on shares of J C Penney from $3.00 to $2.00 and set a “market perform” rating for the company in a research note on Friday, August 17th. Six investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $3.20.

Shares of NYSE JCP traded down $0.08 during midday trading on Friday, reaching $1.47. 463,789 shares of the stock were exchanged, compared to its average volume of 15,859,456. The stock has a market capitalization of $490.29 million, a price-to-earnings ratio of 6.68 and a beta of 0.97. J C Penney has a twelve month low of $1.31 and a twelve month high of $4.75. The company has a debt-to-equity ratio of 3.43, a current ratio of 1.63 and a quick ratio of 0.20.

A number of hedge funds have recently modified their holdings of the business. Contrarius Investment Management Ltd raised its stake in J C Penney by 281.1% during the second quarter. Contrarius Investment Management Ltd now owns 14,626,462 shares of the department store operator’s stock valued at $34,226,000 after purchasing an additional 10,788,248 shares in the last quarter. BlackRock Inc. raised its position in shares of J C Penney by 5.2% in the 2nd quarter. BlackRock Inc. now owns 41,765,412 shares of the department store operator’s stock valued at $97,730,000 after purchasing an additional 2,062,002 shares during the last quarter. Aristotle Fund L.P. raised its position in shares of J C Penney by 31.5% in the 2nd quarter. Aristotle Fund L.P. now owns 6,234,000 shares of the department store operator’s stock valued at $14,588,000 after purchasing an additional 1,495,000 shares during the last quarter. Strs Ohio raised its position in shares of J C Penney by 21.7% in the 2nd quarter. Strs Ohio now owns 5,600,000 shares of the department store operator’s stock valued at $13,104,000 after purchasing an additional 1,000,000 shares during the last quarter. Finally, Hodges Capital Management Inc. raised its position in shares of J C Penney by 39.8% in the 3rd quarter. Hodges Capital Management Inc. now owns 2,791,000 shares of the department store operator’s stock valued at $4,633,000 after purchasing an additional 794,750 shares during the last quarter. Hedge funds and other institutional investors own 70.74% of the company’s stock.

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, home furnishings, and large appliances; and provides services, including styling salon, optical, portrait photography, custom decorating, and home services.

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

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