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

Equities research analysts expect J C Penney Company Inc (NYSE:JCP) to report sales of $4.03 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made 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 reported sales of $3.96 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1.8%. The business is expected to issue its next quarterly 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 fiscal year, with estimates ranging from $12.34 billion to $12.81 billion. For the next fiscal 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 Investment Research’s sales averages are an average based on a survey of research analysts that follow J C Penney.

JCP has been the topic of several recent analyst reports. Cowen set a $4.00 price target on shares of J C Penney and gave the company a “hold” rating in a research note on Thursday, November 30th. Zacks Investment Research lowered shares of J C Penney from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Citigroup increased their price target on shares of J C Penney from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. B. Riley reiterated a “hold” rating and issued a $3.50 price target on shares of J C Penney in a research note on Monday, November 13th. Finally, UBS Group lowered shares of J C Penney from a “positive” rating to a “neutral” rating in a research note on Monday, October 30th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $4.78.

Several institutional investors and hedge funds have recently made changes to their positions in JCP. Spark Investment Management LLC purchased a new position in shares of J C Penney during the fourth quarter worth approximately $7,996,000. 1060 Capital LLC purchased a new position in shares of J C Penney during the fourth quarter worth approximately $4,740,000. SG Americas Securities LLC lifted its holdings in shares of J C Penney by 52.4% during the third quarter. SG Americas Securities LLC now owns 3,585,977 shares of the department store operator’s stock worth $13,663,000 after purchasing an additional 1,232,229 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of J C Penney by 93.9% during the second quarter. Ameriprise Financial Inc. now owns 1,629,688 shares of the department store operator’s stock worth $7,577,000 after purchasing an additional 789,312 shares during the period. Finally, OppenheimerFunds Inc. lifted its holdings in shares of J C Penney by 35.0% during the fourth quarter. OppenheimerFunds Inc. now owns 2,649,673 shares of the department store operator’s stock worth $8,373,000 after purchasing an additional 686,308 shares during the period. Institutional investors and hedge funds own 72.82% of the company’s stock.

J C Penney (NYSE JCP) opened at $3.47 on Tuesday. The company has a market cap of $1,068.69, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 1.27 and a beta of 0.72. J C Penney has a one year low of $2.35 and a one year high of $7.42. The company has a quick ratio of 0.16, a current ratio of 1.44 and a debt-to-equity ratio of 3.95.

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

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