J C Penney Company Inc (JCP) Expected to Announce Quarterly Sales of $4.03 Billion

Equities analysts expect that J C Penney Company Inc (NYSE:JCP) will report sales of $4.03 billion for the current quarter, according to Zacks. Six analysts have issued estimates for J C Penney’s earnings, with the highest sales estimate coming in at $4.10 billion and the lowest estimate coming in at $3.86 billion. J C Penney posted sales of $3.96 billion in the same quarter last year, which suggests a positive year over year growth rate of 1.8%. The company is scheduled to report its next earnings results before the market opens on Friday, March 2nd.

On average, analysts expect that J C Penney will report full-year sales of $4.03 billion for the current financial year, with estimates ranging from $12.34 billion to $12.81 billion. For the next year, analysts anticipate that the firm will report sales of $12.24 billion per share, with estimates ranging from $11.58 billion to $12.65 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover J C Penney.

JCP has been the topic of several recent research reports. B. Riley set a $4.00 target price on shares of J C Penney and gave the stock a “hold” rating in a report on Monday, October 30th. Cowen set a $4.00 target price on shares of J C Penney and gave the stock a “hold” rating in a report on Sunday, October 29th. Robert W. Baird set a $3.00 target price on shares of J C Penney and gave the stock a “hold” rating in a report on Sunday, October 29th. Piper Jaffray Companies set a $3.00 target price on shares of J C Penney and gave the stock a “hold” rating in a report on Friday, October 27th. Finally, Jefferies Group set a $3.00 target price on shares of J C Penney and gave the stock a “hold” rating in a report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and one has issued a strong buy rating to the company. J C Penney has a consensus rating of “Hold” and a consensus price target of $4.65.

Shares of J C Penney (JCP) traded up $0.09 during trading on Tuesday, reaching $3.88. 10,690,000 shares of the company’s stock traded hands, compared to its average volume of 15,080,000. The company has a current ratio of 1.44, a quick ratio of 0.16 and a debt-to-equity ratio of 3.95. J C Penney has a one year low of $2.35 and a one year high of $7.35. The company has a market cap of $1,210.00, a PE ratio of -6.36, a price-to-earnings-growth ratio of 1.36 and a beta of 0.72.

Several large investors have recently added to or reduced their stakes in JCP. Ameriprise Financial Inc. boosted its holdings in shares of J C Penney by 93.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,629,688 shares of the department store operator’s stock valued at $7,577,000 after buying an additional 789,312 shares in the last quarter. California Public Employees Retirement System raised its position in shares of J C Penney by 3.3% in the 2nd quarter. California Public Employees Retirement System now owns 1,238,233 shares of the department store operator’s stock valued at $5,758,000 after purchasing an additional 39,800 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of J C Penney by 22.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 795,017 shares of the department store operator’s stock valued at $3,697,000 after purchasing an additional 143,861 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of J C Penney in the 2nd quarter valued at approximately $311,000. Finally, Wedge Capital Management L L P NC raised its position in shares of J C Penney by 29.5% in the 3rd quarter. Wedge Capital Management L L P NC now owns 140,167 shares of the department store operator’s stock valued at $534,000 after purchasing an additional 31,920 shares during the last quarter. Institutional investors and hedge funds own 72.82% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “J C Penney Company Inc (JCP) Expected to Announce Quarterly Sales of $4.03 Billion” was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/02/16/j-c-penney-company-inc-jcp-expected-to-announce-quarterly-sales-of-4-03-billion.html.

J C Penney 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.

Get a free copy of the Zacks research report on J C Penney (JCP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.

Leave a Reply