Equities analysts expect that J C Penney Company Inc (NYSE:JCP) will post sales of $2.52 billion for the current quarter, Zacks reports. Five analysts have provided estimates for J C Penney’s earnings, with estimates ranging from $2.47 billion to $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 business is expected to issue its next earnings results on Thursday, May 16th.

On average, 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 financial year, analysts forecast that the company will report sales of $11.55 billion, with estimates ranging from $11.03 billion to $11.92 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow J C Penney.

J C Penney (NYSE:JCP) last posted its quarterly earnings data on Thursday, February 28th. The department store operator reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the business posted $0.57 earnings per share.

Several equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of J C Penney from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. B. Riley set a $2.00 price objective on shares of J C Penney and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Finally, Citigroup assumed coverage on shares of J C Penney in a research note on Thursday, December 20th. They set an “underweight” rating for the company. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $2.78.

JCP traded up $0.03 during trading on Friday, hitting $1.28. 1,404,679 shares of the company’s stock were exchanged, compared to its average volume of 7,887,175. The company has a quick ratio of 0.27, a current ratio of 1.52 and a debt-to-equity ratio of 3.35. J C Penney has a 1 year low of $0.92 and a 1 year high of $3.20. The company has a market cap of $401.79 million, a P/E ratio of -1.36 and a beta of 1.10.

A number of hedge funds and other institutional investors have recently bought and sold shares of JCP. BlackRock Inc. raised its holdings in shares of J C Penney by 2.3% during the fourth quarter. BlackRock Inc. now owns 43,382,574 shares of the department store operator’s stock worth $45,118,000 after purchasing an additional 991,873 shares during the period. Newport Trust Co grew its holdings in shares of J C Penney by 3.3% during the fourth quarter. Newport Trust Co now owns 14,172,524 shares of the department store operator’s stock valued at $14,739,000 after buying an additional 452,690 shares during the last quarter. Masters Capital Management LLC grew its holdings in shares of J C Penney by 100.0% during the fourth quarter. Masters Capital Management LLC now owns 10,000,000 shares of the department store operator’s stock valued at $10,400,000 after buying an additional 5,000,000 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of J C Penney during the fourth quarter valued at $5,976,000. Finally, Tilden Park Management I LLC purchased a new stake in shares of J C Penney during the fourth quarter valued at $5,888,000. Hedge funds and other institutional investors own 71.79% of the company’s stock.

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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