Equities research analysts expect J C Penney Company Inc (NYSE:JCP) to report earnings per share of $0.44 for the current quarter, Zacks reports. Six analysts have made estimates for J C Penney’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.37. J C Penney reported 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 business is scheduled to report its next quarterly earnings results on Friday, February 23rd.
According to Zacks, analysts expect that J C Penney will report full-year earnings of $0.10 per share for the current fiscal year, with EPS estimates ranging from $0.02 to $0.15. For the next year, analysts anticipate that the firm will post earnings of $0.17 per share, with EPS estimates ranging from ($0.15) to $0.39. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for J C Penney.
J C Penney (NYSE:JCP) last announced its earnings results on Friday, November 10th. The department store operator reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.10. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.77 billion. J C Penney had a negative return on equity of 45.98% and a negative net margin of 4.56%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm posted ($0.21) earnings per share.
JCP has been the topic of several research reports. Cowen set a $4.00 target price on J C Penney and gave the stock a “hold” rating in a research report on Thursday, November 30th. Zacks Investment Research cut J C Penney from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Citigroup raised their target price on J C Penney from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. B. Riley reaffirmed a “hold” rating and issued a $3.50 price objective on shares of J C Penney in a research note on Monday, November 13th. Finally, UBS Group downgraded J C Penney from a “positive” rating to a “neutral” rating in a research note on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $4.73.
Shares of J C Penney (NYSE JCP) traded up $0.23 during trading hours on Friday, reaching $3.97. The company’s stock had a trading volume of 17,104,000 shares, compared to its average volume of 18,440,000. The stock has a market capitalization of $1,240.00, a PE ratio of -6.51, a price-to-earnings-growth ratio of 2.86 and a beta of 0.58. The company has a debt-to-equity ratio of 3.95, a current ratio of 1.44 and a quick ratio of 0.16. J C Penney has a fifty-two week low of $2.35 and a fifty-two week high of $7.42.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Griffin Asset Management Inc. bought a new stake in J C Penney during the 3rd quarter valued at approximately $644,000. California Public Employees Retirement System raised its stake in 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 purchasing an additional 306,267 shares during the period. Pinebridge Investments L.P. raised its stake in J C Penney by 802.7% during the 3rd quarter. Pinebridge Investments L.P. now owns 368,458 shares of the department store operator’s stock valued at $1,404,000 after purchasing an additional 327,641 shares during the period. Keel Point LLC raised its stake in J C Penney by 100.0% during the 3rd quarter. Keel Point LLC now owns 108,000 shares of the department store operator’s stock valued at $411,000 after purchasing an additional 54,000 shares during the period. Finally, SG Americas Securities LLC raised its stake in 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 purchasing an additional 1,232,229 shares during the period. 72.73% of the stock is currently owned by institutional investors.
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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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