J.C. Penney Company, Inc. Holding Company (JCP) Updates FY18 Earnings Guidance
J.C. Penney Company, Inc. Holding Company (NYSE:JCP) issued an update on its FY18 earnings guidance on Friday morning. The company provided earnings per share guidance of $0.40-0.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.49.
Shares of J.C. Penney Company, Inc. Holding Company (NYSE JCP) opened at 4.71 on Friday. J.C. Penney Company, Inc. Holding Company has a 52-week low of $4.17 and a 52-week high of $11.30. The stock’s 50 day moving average price is $4.98 and its 200-day moving average price is $5.57. The firm’s market cap is $1.46 billion.
J.C. Penney Company, Inc. Holding (NYSE:JCP) last issued its earnings results on Friday, August 11th. The department store operator reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.05. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.84 billion. J.C. Penney Company, Inc. Holding had a negative net margin of 0.89% and a positive return on equity of 11.44%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.05) EPS. On average, equities research analysts anticipate that J.C. Penney Company, Inc. Holding Company will post $0.49 earnings per share for the current fiscal year.
JCP has been the topic of a number of recent analyst reports. Gordon Haskett initiated coverage on shares of J.C. Penney Company, Inc. Holding in a research note on Tuesday, May 9th. They issued a reduce rating and a $5.00 target price on the stock. Piper Jaffray Companies set a $5.00 target price on shares of J.C. Penney Company, Inc. Holding and gave the company a hold rating in a research note on Saturday, May 13th. Oppenheimer Holdings, Inc. restated a hold rating on shares of J.C. Penney Company, Inc. Holding in a research note on Saturday, May 13th. B. Riley restated a neutral rating and issued a $5.70 target price on shares of J.C. Penney Company, Inc. Holding in a research note on Monday, May 15th. Finally, Robert W. Baird lowered shares of J.C. Penney Company, Inc. Holding from an outperform rating to a neutral rating and cut their target price for the company from $8.00 to $5.00 in a research note on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $6.50.
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About J.C. Penney Company, Inc. Holding
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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