JC Penney starts the year with weaker-than-expected results

Penney reports 1Q loss
Penney reports 1Q loss
Author

13 May, 2017

Earnings per share (EPS) breaks down the profitability of the company on a single share basis, and for J. C. Penney Company, Inc. the EPS stands at 0.64 for the previous quarter, while the analysts predicted the EPS of the stock to be 0.61, suggesting the stock exceeded the analysts' expectations.

J C Penney Company (NYSE:JCP) last posted its quarterly earnings data on Friday, February 24th. It also reiterated that earnings excluding some items will be 40 cents to 65 cents a share. (JCP) is expected to post revenue of $2.85 Billion in the current quarter, according to consensus of 18 analysts. Analysts had been expecting losses of 21 cents per share and $2.78 billion in sales. The department store operator reported $0.64 EPS for the quarter, beating the Zacks' consensus estimate of $0.61 by $0.03. For some highly indebted names such as Sears, and to a lesser extent J.C. Penney, the volatile operating backdrop could be stoking concerns on whether the businesses will be around in five years time.

Penney shares have decreased 36 percent since the beginning of the year. To make a proper assessment, investors seek a sound estimate of this year's and next year's earnings per share (EPS), as well as a strong sense of how much the company will earn even farther down the road.

Traditional department stores are attempting to steal share wherever they can find it. The company now has an average rating of Hold and a consensus target price of $8.74.

Sales at sporting goods, hobby, music and book stores dropped 2.4%. But given that Penney launched its own line a few years ago, Xersion, and one it has featured prominently in stores, it shouldn't have seen apparel sales decimated by this trend. Analysts estimated 46 cents. Buy rating has been given by 2 analysts to the company stock whereas 4 analysts given UNDERPERFORM rating to stock and 10 analysts given HOLD rating.

The Company reaffirmed its 2017 full year guidance.

Shares of J C Penney Company Inc (NYSE:JCP) opened at 5.29 on Friday. Dillard's Inc., a smaller regional chain, also reported weak sales on Thursday.

But sales at United States department stores in April fell 3.7% year-on-year, marking a two-year run of annual declines, the Commerce Department said. Robert W. Baird set a $11.00 price objective on J C Penney Company and gave the company a buy rating in a research report on Tuesday, January 17th. Robert W. Baird reiterated an "outperform" rating and issued a $11.00 price target on shares of J C Penney Company in a report on Wednesday, February 22nd.

J. C. Penney Company, Inc is a holding company.


More news


  • Here are the three dumbest defenses of Comey's firing

    Here are the three dumbest defenses of Comey's firing

    The lawyers did not release copies of Trump's tax returns so The Associated Press can not independently verify their conclusions. Last year's Hillary Clinton email investigation put the agency in the middle of a political fight. "It took a lot of guts".
    Police Negotiating With Suspect in Fatal Shooting of Deputy

    Police Negotiating With Suspect in Fatal Shooting of Deputy

    James Arthur Bowden, 42, surrendered Thursday afternoon at a house near Dardanelle, Arkansas State Police said in a statement . The suspect, who has not yet been identified, was taken into custody late Thursday afternoon after a standoff with police.
    President Trump calls France's Emmanuel Macron to congratulate him on election win

    President Trump calls France's Emmanuel Macron to congratulate him on election win

    Some key members of the centrist arm of The Republicans appear ready to override the party hierarchy and work closely with Macron. Macron attended Paris Naterre University where he studied philosophy and has a Masters of Public Affairs degree from Sciences Po.
  • Trump admits Russian Federation  probe played into Comey's firing

    Trump admits Russian Federation probe played into Comey's firing

    The Senate intelligence committee is also subpoenaing a number of Trump's associates for documents related to an investigation into Russia's interference in the election.
    Prakash extradited to Aust in months: PM

    Prakash extradited to Aust in months: PM

    The ABC understands he was arrested when he tried to cross the Syrian border into Turkey using false documents and a fake name. He also helped radicalise Numan Haider , who launched a stabbing attack on police in Melbourne in 2014 before being shot dead.
    Microsoft's Surface Laptop is ridiculously expensive in the UK

    Microsoft's Surface Laptop is ridiculously expensive in the UK

    That means you won't be able to install any third-party apps on your Windows 10 S desktop that do not have Windows Store versions. However, it's possible that Windows 10 S is simpler and lighter than regular Windows 10, making the amount of RAM more palatable.
  • This Couple Is Ready to Wed After Losing 578 Pounds Together

    This Couple Is Ready to Wed After Losing 578 Pounds Together

    With the help of personal trainer Nick Murphy, Brower followed a low-carbohydrate diet, quit the booze and drugs and worked out. Ask these two the secret to love and they'll tell you - a couple that trains together, stays together.
    Mets closer Familia has clot in shoulder, surgery possible

    Mets closer Familia has clot in shoulder, surgery possible

    Robert Thompson, who notably performed right-handed starting pitcher Matt Harvey's thoracic outlet surgery previous year . Wheeler (2-2) tossed six innings in his best start since missing two seasons while recovering from Tommy John surgery.
    Apple eager to tap India's huge potential, says Tim Cook

    Apple eager to tap India's huge potential, says Tim Cook

    Everyone has been focusing on that figure for iPhone shipments, even if it's down ever so slightly from the year before. Cook, who was in India previous year , said he agreed that Apple was "underpenetrated" in the market.
  • Europa League: Rashford to the Rescue for United

    Though Mourinho was happy with the result , he said it could have been more and urged respect for the Spaniards at Old Trafford. United will now have to close it out next Thursday at Old Trafford, in order to reach the Europa Final May 24th in Stockholm.
    North Korea says detains another American citizen, KCNA reports

    North Korea says detains another American citizen, KCNA reports

    The ambassador said that the issue was not that serious for the nation. 'Our nuclear power is our sovereign right. It said his detention was not related to his work at the university and therefore it could not comment further.

    Cyberattack: Up to 74 countries affected by ransomware, say experts

    Hospitals, with their often outdated IT systems and trove of confidential patient data, are a particularly tempting target. Many hospitals cancelled all routine procedures and warned patients not to come to hospital unless it was an emergency.