Brokerages expect J.C. Penney Company, Inc. Holding Company (NYSE:JCP) to announce sales of $3.93 billion for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for J.C. Penney’s earnings. The highest sales estimate is $3.99 billion and the lowest is $3.83 billion. J.C. Penney reported sales of $3.96 billion in the same quarter last year, which indicates a negative year over year growth rate of 0.8%. The firm is expected to issue its next earnings report on Friday, February 23rd.
On average, analysts expect that J.C. Penney will report full-year sales of $3.93 billion for the current financial year, with estimates ranging from $12.26 billion to $12.81 billion. For the next year, analysts forecast that the company will report sales of $12.12 billion per share, with estimates ranging from $11.58 billion to $12.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow J.C. Penney.
J.C. Penney (NYSE:JCP) last announced its quarterly earnings results on Friday, November 10th. The department store operator reported ($0.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.10. J.C. Penney had a negative net margin of 1.43% and a positive return on equity of 7.60%. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the company posted ($0.21) EPS. The company’s revenue was down 1.8% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in JCP. Blair William & Co. IL raised its stake in shares of J.C. Penney by 3.1% during the second quarter. Blair William & Co. IL now owns 33,625 shares of the department store operator’s stock worth $156,000 after acquiring an additional 1,000 shares in the last quarter. Quinn Opportunity Partners LLC increased its position in J.C. Penney by 13.9% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 40,900 shares of the department store operator’s stock valued at $190,000 after purchasing an additional 5,000 shares during the period. Pinebridge Investments L.P. bought a new stake in shares of J.C. Penney during the 2nd quarter valued at $190,000. US Bancorp DE boosted its holdings in shares of J.C. Penney by 1.7% during the 2nd quarter. US Bancorp DE now owns 63,629 shares of the department store operator’s stock valued at $296,000 after buying an additional 1,054 shares in the last quarter. Finally, Dupont Capital Management Corp boosted its holdings in shares of J.C. Penney by 67.4% during the 2nd quarter. Dupont Capital Management Corp now owns 63,600 shares of the department store operator’s stock valued at $296,000 after buying an additional 25,600 shares in the last quarter. Institutional investors and hedge funds own 73.10% of the company’s stock.
J.C. Penney (NYSE JCP) opened at $3.30 on Wednesday. The company has a debt-to-equity ratio of 3.95, a current ratio of 1.44 and a quick ratio of 0.16. J.C. Penney has a 12-month low of $2.35 and a 12-month high of $10.74. The stock has a market cap of $1,059.34, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 2.80 and a beta of 0.57.
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About J.C. Penney
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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