Zacks: Brokerages Expect J C Penney Company Inc (JCP) Will Announce Quarterly Sales of $2.61 Billion

Wall Street brokerages expect J C Penney Company Inc (NYSE:JCP) to post $2.61 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for J C Penney’s earnings, with estimates ranging from $2.57 billion to $2.64 billion. J C Penney posted sales of $2.71 billion in the same quarter last year, which would indicate a negative year over year growth rate of 3.7%. The company is expected to report its next earnings report on Friday, May 11th.

According to Zacks, analysts expect that J C Penney will report full year sales of $2.61 billion for the current year, with estimates ranging from $12.04 billion to $12.23 billion. For the next financial year, analysts expect that the firm will report sales of $12.11 billion per share, with estimates ranging from $11.73 billion to $12.34 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover J C Penney.

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J C Penney (NYSE:JCP) last issued its quarterly earnings results on Friday, March 2nd. The department store operator reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.10. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.04 billion. J C Penney had a positive return on equity of 5.65% and a negative net margin of 0.93%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share.

JCP has been the subject of several recent analyst reports. Zacks Investment Research downgraded J C Penney from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Robert W. Baird set a $4.00 price target on J C Penney and gave the company a “hold” rating in a research report on Thursday, January 4th. B. Riley set a $4.00 price objective on J C Penney and gave the company a “hold” rating in a research report on Friday, January 5th. Piper Jaffray set a $4.00 price objective on J C Penney and gave the company a “hold” rating in a research report on Wednesday, January 10th. Finally, ValuEngine lowered J C Penney from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Four equities research analysts have rated the stock with a sell rating and eighteen have assigned a hold rating to the stock. J C Penney currently has a consensus rating of “Hold” and a consensus price target of $4.31.

NYSE JCP traded up $0.04 on Wednesday, reaching $3.25. The company had a trading volume of 10,794,825 shares, compared to its average volume of 17,484,814. J C Penney has a 52 week low of $2.35 and a 52 week high of $6.17. The company has a market capitalization of $1,000.14, a PE ratio of 14.70, a P/E/G ratio of 1.37 and a beta of 0.79. The company has a current ratio of 1.46, a quick ratio of 0.28 and a debt-to-equity ratio of 2.89.

Large investors have recently made changes to their positions in the company. Syntal Capital Partners LLC bought a new position in shares of J C Penney during the fourth quarter valued at about $126,000. Two Sigma Advisers LP increased its stake in shares of J C Penney by 45.2% during the fourth quarter. Two Sigma Advisers LP now owns 69,352 shares of the department store operator’s stock valued at $219,000 after purchasing an additional 21,600 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new position in shares of J C Penney during the fourth quarter valued at approximately $272,000. Nokomis Capital L.L.C. bought a new position in shares of J C Penney during the fourth quarter valued at approximately $284,000. Finally, Teacher Retirement System of Texas increased its stake in shares of J C Penney by 313.7% during the fourth quarter. Teacher Retirement System of Texas now owns 106,538 shares of the department store operator’s stock valued at $337,000 after purchasing an additional 80,788 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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

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