Equities research analysts predict that J C Penney Company Inc (NYSE:JCP) will post sales of $2.52 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for J C Penney’s earnings. The lowest sales estimate is $2.47 billion and the highest is $2.60 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 firm is expected to report its next quarterly earnings report before the market opens on Tuesday, May 21st.

On average, analysts expect that J C Penney will report full year sales of $11.59 billion for the current fiscal year, with estimates ranging from $11.24 billion to $11.90 billion. For the next year, analysts forecast that the business will report sales of $11.55 billion, with estimates ranging from $11.03 billion to $11.92 billion. Zacks’ sales averages are an average based on a survey of analysts that follow 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.03. The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.79 billion. J C Penney had a negative net margin of 2.12% and a negative return on equity of 24.80%. During the same period last year, the firm earned $0.57 EPS.

Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of J C Penney from a “buy” rating to a “strong sell” rating in a report on Wednesday, May 1st. B. Riley raised their price objective on shares of J C Penney from $1.50 to $1.80 and gave the stock a “neutral” rating in a report on Friday, March 1st. Six investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $2.66.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Two Sigma Advisers LP purchased a new stake in J C Penney in the 4th quarter worth approximately $101,000. Northern Trust Corp lifted its holdings in shares of J C Penney by 2.5% in the fourth quarter. Northern Trust Corp now owns 3,781,122 shares of the department store operator’s stock worth $3,932,000 after buying an additional 91,404 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of J C Penney by 42.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 145,414 shares of the department store operator’s stock worth $151,000 after buying an additional 43,040 shares in the last quarter. Oregon Public Employees Retirement Fund purchased a new position in shares of J C Penney in the fourth quarter worth $125,000. Finally, Tilden Park Management I LLC purchased a new position in shares of J C Penney in the fourth quarter worth $5,888,000. Institutional investors and hedge funds own 72.48% of the company’s stock.

JCP traded down $0.02 on Tuesday, hitting $1.26. The company’s stock had a trading volume of 6,929,388 shares, compared to its average volume of 5,949,247. The company has a market cap of $404.95 million, a PE ratio of -1.34 and a beta of 1.05. J C Penney has a 12 month low of $0.92 and a 12 month high of $3.16. The company has a current ratio of 1.52, a quick ratio of 0.27 and a debt-to-equity ratio of 3.35.

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.

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

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