-$0.56 Earnings Per Share Expected for J C Penney Company Inc (NYSE:JCP) This Quarter

Equities research analysts expect J C Penney Company Inc (NYSE:JCP) to announce earnings per share of ($0.56) for the current quarter, according to Zacks. Two analysts have made estimates for J C Penney’s earnings, with the highest EPS estimate coming in at ($0.43) and the lowest estimate coming in at ($0.65). J C Penney reported earnings per share of ($0.52) during the same quarter last year, which would suggest a negative year over year growth rate of 7.7%. The firm is expected to announce its next quarterly earnings report before the market opens on Friday, November 15th.

On average, analysts expect that J C Penney will report full-year earnings of ($1.22) per share for the current year, with EPS estimates ranging from ($1.38) to ($1.09). For the next year, analysts expect that the firm will post earnings of ($0.73) per share, with EPS estimates ranging from ($1.32) to ($0.05). Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for J C Penney.

J C Penney (NYSE:JCP) last posted its quarterly earnings results on Thursday, August 15th. The department store operator reported ($0.18) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.14. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.62 billion. J C Penney had a negative return on equity of 29.24% and a negative net margin of 2.38%. The business’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period last year, the firm earned ($0.38) earnings per share.

Separately, B. Riley assumed coverage on J C Penney in a report on Friday, August 16th. They set a “hold” rating and a $1.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. J C Penney presently has an average rating of “Hold” and an average target price of $1.44.

In other news, Director Ronald W. Tysoe bought 1,000,000 shares of J C Penney stock in a transaction dated Friday, August 16th. The shares were purchased at an average cost of $0.59 per share, with a total value of $590,000.00. Following the completion of the acquisition, the director now owns 1,352,128 shares of the company’s stock, valued at approximately $797,755.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lisa A. Payne bought 230,000 shares of J C Penney stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $0.79 per share, for a total transaction of $181,700.00. Following the completion of the acquisition, the director now directly owns 517,890 shares of the company’s stock, valued at approximately $409,133.10. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,830,000 shares of company stock worth $1,125,700. Insiders own 1.41% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Harbor Spring Capital LLC bought a new stake in shares of J C Penney in the second quarter worth about $9,567,000. Aperio Group LLC increased its holdings in shares of J C Penney by 10.7% in the second quarter. Aperio Group LLC now owns 147,626 shares of the department store operator’s stock worth $168,000 after purchasing an additional 14,247 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in shares of J C Penney by 159.6% in the second quarter. Commonwealth Bank of Australia now owns 1,118,300 shares of the department store operator’s stock worth $1,271,000 after purchasing an additional 687,500 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in shares of J C Penney by 103.9% in the first quarter. MetLife Investment Advisors LLC now owns 142,487 shares of the department store operator’s stock worth $212,000 after purchasing an additional 72,608 shares during the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in shares of J C Penney in the second quarter worth about $956,000. 66.71% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:JCP traded down $0.01 on Friday, reaching $1.00. 5,162,889 shares of the company’s stock traded hands, compared to its average volume of 7,441,231. The company has a quick ratio of 0.21, a current ratio of 1.37 and a debt-to-equity ratio of 4.86. The stock has a 50-day simple moving average of $0.90 and a 200-day simple moving average of $1.01. The firm has a market cap of $321.02 million, a PE ratio of -1.06 and a beta of 1.56. J C Penney has a 12 month low of $0.53 and a 12 month high of $1.91.

About J C Penney

J. C. Penney Company, Inc, through its subsidiary J. C. Penney Corporation, Inc, sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services.

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