J.C. Penney Company, Inc. Holding Company (JCP) Announces Earnings Results, Beats Estimates By $0.10 EPS
J.C. Penney Company, Inc. Holding Company (NYSE:JCP) posted its quarterly earnings results on Friday. The department store operator reported ($0.33) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.10, Bloomberg Earnings reports. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.77 billion. J.C. Penney Company, Inc. Holding had a positive return on equity of 10.55% and a negative net margin of 0.94%. J.C. Penney Company, Inc. Holding’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. J.C. Penney Company, Inc. Holding updated its FY18 guidance to $0.02-0.08 EPS.
J.C. Penney Company, Inc. Holding (NYSE:JCP) opened at $3.17 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.24 and a debt-to-equity ratio of 3.51. J.C. Penney Company, Inc. Holding has a 12-month low of $2.35 and a 12-month high of $10.74. The firm has a market capitalization of $860.75, a P/E ratio of 6.93 and a beta of 0.53.
A number of research analysts recently commented on the company. Cowen and Company set a $6.00 price target on J.C. Penney Company, Inc. Holding and gave the company a “hold” rating in a research note on Friday, August 11th. B. Riley reaffirmed a “buy” rating and issued a $4.30 price target on shares of J.C. Penney Company, Inc. Holding in a research note on Wednesday, August 16th. Susquehanna Bancshares Inc downgraded J.C. Penney Company, Inc. Holding from a “positive” rating to a “neutral” rating and set a $3.00 price target for the company. in a research note on Tuesday, October 31st. Citigroup Inc. boosted their target price on J.C. Penney Company, Inc. Holding from $3.00 to $4.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Finally, Robert W. Baird set a $3.00 target price on J.C. Penney Company, Inc. Holding and gave the stock a “hold” rating in a research note on Sunday, October 29th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $5.06.
In other news, Director Javier G. Teruel bought 135,135 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average cost of $3.64 per share, with a total value of $491,891.40. Following the completion of the transaction, the director now directly owns 518,970 shares of the company’s stock, valued at $1,889,050.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Marvin R. Ellison bought 100,000 shares of the stock in a transaction dated Friday, August 18th. The shares were purchased at an average cost of $3.48 per share, for a total transaction of $348,000.00. Following the completion of the transaction, the chairman now directly owns 2,852,280 shares of the company’s stock, valued at $9,925,934.40. The disclosure for this purchase can be found here. Insiders have bought 310,135 shares of company stock worth $1,111,391 over the last ninety days. 1.02% of the stock is owned by insiders.
J.C. Penney Company, Inc. Holding Company Profile
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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