Wall Street brokerages expect J C Penney Company Inc (NYSE:JCP) to post earnings per share (EPS) of $0.15 for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for J C Penney’s earnings. The lowest EPS estimate is ($0.02) and the highest is $0.27. J C Penney posted earnings of $0.57 per share in the same quarter last year, which would suggest a negative year over year growth rate of 73.7%. The company is expected to report its next earnings report on Friday, March 1st.
On average, analysts expect that J C Penney will report full-year earnings of ($0.97) per share for the current year, with EPS estimates ranging from ($1.15) to ($0.85). For the next financial year, analysts forecast that the business will report earnings of ($0.71) per share, with EPS estimates ranging from ($0.87) to ($0.45). Zacks’ earnings per share averages are a mean average based on a survey of analysts that cover J C Penney.
J C Penney (NYSE:JCP) last announced its earnings results on Thursday, November 15th. The department store operator reported ($0.52) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.57) by $0.05. J C Penney had a negative net margin of 0.62% and a negative return on equity of 13.97%. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm posted ($0.33) earnings per share.
Several analysts have weighed in on JCP shares. Craig Hallum reissued a “hold” rating and set a $2.00 price objective on shares of J C Penney in a report on Thursday, November 15th. Zacks Investment Research upgraded J C Penney from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 14th. Telsey Advisory Group reduced their price target on J C Penney from $2.00 to $1.25 and set a “market perform” rating for the company in a research report on Friday, November 16th. Argus downgraded J C Penney from a “hold” rating to a “sell” rating in a report on Friday, November 16th. Finally, Citigroup initiated coverage on J C Penney in a research note on Thursday, December 20th. They issued an “underweight” rating on the stock. Seven research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. J C Penney currently has an average rating of “Hold” and a consensus price target of $2.81.
Shares of NYSE:JCP opened at $1.35 on Friday. The firm has a market capitalization of $424.29 million, a PE ratio of 6.14 and a beta of 1.16. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.17 and a current ratio of 1.58. J C Penney has a 52 week low of $0.92 and a 52 week high of $4.75.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of J C Penney by 1.5% during the 3rd quarter. BlackRock Inc. now owns 42,390,701 shares of the department store operator’s stock valued at $70,368,000 after purchasing an additional 625,289 shares during the period. Newport Trust Co raised its stake in shares of J C Penney by 3.3% during the 4th quarter. Newport Trust Co now owns 14,172,524 shares of the department store operator’s stock valued at $14,739,000 after purchasing an additional 452,690 shares during the period. Tyvor Capital LLC bought a new stake in shares of J C Penney during the 3rd quarter valued at $10,871,000. WINTON GROUP Ltd bought a new stake in shares of J C Penney during the 4th quarter valued at $5,976,000. Finally, Tilden Park Management I LLC bought a new stake in shares of J C Penney during the 4th quarter valued at $5,888,000. Institutional investors own 72.87% 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, home furnishings, and large appliances; and provides services, including styling salon, optical, portrait photography, custom decorating, and home services.
Recommended Story: How is Preferred Stock Different from Common Stock?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for J C Penney Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J C Penney and related companies with MarketBeat.com's FREE daily email newsletter.