Equities research analysts forecast that J C Penney Company Inc (NYSE:JCP) will post sales of $2.52 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for J C Penney’s earnings. The highest sales estimate is $2.60 billion and the lowest is $2.47 billion. J C Penney posted sales of $2.67 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.6%. The business is expected to announce its next quarterly earnings report on Thursday, May 16th.
According to Zacks, analysts expect that J C Penney will report full-year sales of $11.59 billion for the current financial year, with estimates ranging from $11.24 billion to $11.90 billion. For the next year, analysts forecast that the company will post sales of $11.55 billion, with estimates ranging from $11.03 billion to $11.92 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover J C Penney.
J C Penney (NYSE:JCP) last released its quarterly earnings data on Thursday, February 28th. The department store operator reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.03. 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 $3.79 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share.
JCP has been the topic of a number of recent analyst reports. Citigroup initiated coverage on shares of J C Penney in a research report on Thursday, December 20th. They issued an “underweight” rating on the stock. Zacks Investment Research lowered shares of J C Penney from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. Finally, B. Riley set a $2.00 price target on shares of J C Penney and gave the company a “hold” rating in a research report on Tuesday, February 26th. Five equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.78.
Several institutional investors have recently made changes to their positions in JCP. D. E. Shaw & Co. Inc. grew its position in shares of J C Penney by 245.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 29,187 shares of the department store operator’s stock worth $30,000 after buying an additional 49,187 shares during the period. Capstone Financial Advisors Inc. boosted its position in shares of J C Penney by 100.0% during the third quarter. Capstone Financial Advisors Inc. now owns 20,000 shares of the department store operator’s stock valued at $33,000 after buying an additional 10,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of J C Penney by 154.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 38,407 shares of the department store operator’s stock valued at $40,000 after buying an additional 23,287 shares during the last quarter. TCG Advisors LP purchased a new position in shares of J C Penney during the fourth quarter valued at approximately $43,000. Finally, Pearl River Capital LLC purchased a new position in shares of J C Penney during the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 71.79% of the company’s stock.
Shares of NYSE:JCP traded up $0.03 during trading hours on Friday, hitting $1.28. 1,404,679 shares of the company’s stock traded hands, compared to its average volume of 7,887,175. J C Penney has a 52 week low of $0.92 and a 52 week high of $3.20. The company has a current ratio of 1.52, a quick ratio of 0.27 and a debt-to-equity ratio of 3.35. The firm has a market cap of $401.79 million, a price-to-earnings ratio of -1.36 and a beta of 1.10.
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.
Recommended Story: Trading Strategy Methods for Individual Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for J C Penney Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J C Penney and related companies with MarketBeat.com's FREE daily email newsletter.