$2.75 Billion in Sales Expected for J.C. Penney Company, Inc. Holding Company (JCP) This Quarter

Brokerages expect that J.C. Penney Company, Inc. Holding Company (NYSE:JCP) will post $2.75 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for J.C. Penney Company, Inc. Holding’s earnings. The highest sales estimate is $2.78 billion and the lowest is $2.71 billion. J.C. Penney Company, Inc. Holding posted sales of $2.86 billion during the same quarter last year, which suggests a negative year over year growth rate of 3.8%. The company is expected to issue its next earnings results on Friday, November 10th.

According to Zacks, analysts expect that J.C. Penney Company, Inc. Holding will report full-year sales of $2.75 billion for the current fiscal year, with estimates ranging from $12.26 billion to $12.81 billion. For the next year, analysts anticipate that the firm will report sales of $12.08 billion per share, with estimates ranging from $11.57 billion to $12.42 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover J.C. Penney Company, Inc. Holding.

J.C. Penney Company, Inc. Holding (NYSE:JCP) last posted its earnings results on Friday, August 11th. The department store operator reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). J.C. Penney Company, Inc. Holding had a negative net margin of 0.94% and a positive return on equity of 10.55%. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the prior year, the company posted ($0.05) EPS. The firm’s revenue was up 1.5% compared to the same quarter last year.

Several analysts have weighed in on JCP shares. Piper Jaffray Companies set a $4.00 price target on J.C. Penney Company, Inc. Holding and gave the company a “hold” rating in a research note on Friday, August 11th. BidaskClub raised J.C. Penney Company, Inc. Holding from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Jefferies Group LLC reissued a “hold” rating and issued a $7.00 price objective on shares of J.C. Penney Company, Inc. Holding in a report on Tuesday, July 4th. Citigroup Inc. decreased their price objective on J.C. Penney Company, Inc. Holding from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Monday, August 14th. Finally, Zacks Investment Research raised J.C. Penney Company, Inc. Holding from a “hold” rating to a “strong-buy” rating and set a $6.25 price objective for the company in a report on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $5.80.

J.C. Penney Company, Inc. Holding (NYSE:JCP) traded down 4.02% on Monday, reaching $3.34. The company’s stock had a trading volume of 19,141,227 shares. J.C. Penney Company, Inc. Holding has a 1-year low of $3.31 and a 1-year high of $10.74. The firm’s 50 day moving average price is $3.89 and its 200-day moving average price is $4.74. The company’s market capitalization is $1.04 billion.

COPYRIGHT VIOLATION WARNING: This story was originally posted by Markets Daily and is owned by of Markets Daily. If you are viewing this story on another domain, it was stolen and republished in violation of US and international trademark and copyright law. The original version of this story can be accessed at https://www.themarketsdaily.com/2017/10/12/2-75-billion-in-sales-expected-for-j-c-penney-company-inc-holding-company-jcp-this-quarter-2.html.

In other J.C. Penney Company, Inc. Holding news, CFO Jeffrey A. Davis acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of $3.62 per share, for a total transaction of $181,000.00. Following the completion of the transaction, the chief financial officer now owns 72,645 shares of the company’s stock, valued at approximately $262,974.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Marvin R. Ellison acquired 100,000 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of $3.48 per share, with a total value of $348,000.00. Following the completion of the transaction, the chairman now directly owns 2,852,280 shares of the company’s stock, valued at approximately $9,925,934.40. The disclosure for this purchase can be found here. Insiders purchased 310,135 shares of company stock valued at $1,111,391 over the last quarter. 1.02% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of J.C. Penney Company, Inc. Holding by 33.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator’s stock worth $103,000 after buying an additional 4,205 shares during the period. FNY Managed Accounts LLC purchased a new position in shares of J.C. Penney Company, Inc. Holding during the first quarter worth $117,000. Tudor Investment Corp ET AL boosted its position in shares of J.C. Penney Company, Inc. Holding by 12.8% during the first quarter. Tudor Investment Corp ET AL now owns 22,900 shares of the department store operator’s stock worth $141,000 after buying an additional 2,600 shares during the period. World Asset Management Inc boosted its position in shares of J.C. Penney Company, Inc. Holding by 0.7% during the first quarter. World Asset Management Inc now owns 23,122 shares of the department store operator’s stock worth $142,000 after buying an additional 153 shares during the period. Finally, Blair William & Co. IL boosted its position in shares of J.C. Penney Company, Inc. Holding 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 buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 71.96% of the company’s stock.

J.C. Penney Company, Inc. Holding 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 Company, Inc. Holding (JCP)

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

Earnings History and Estimates for J.C. Penney Company, Inc. Holding (NYSE:JCP)

Receive News & Ratings for J.C. Penney Company Inc. Holding Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J.C. Penney Company Inc. Holding Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply