J. C. Penney Company, Inc. reported third-quarter fiscal 2017 adjusted loss per share of 33 cents that fared better than the prior year quarter loss of 21 cents.
In the trailing four quarters (excluding the quarter under review), the company’s bottom line had outperformed the Zacks Consensus Estimate by an average of 21.7%.
Revenues: J. C. Penney generated total net sales of $2,807 million that decreased 1.8% year over year. Comparable sales rose 1.7% in the quarter, compared with the decline of 0.8% recorded in the prior year quarter.
Outlook: For fiscal 2017, the comps is projected to be in the range of down 1% to flat. Cost of goods sold is now forecasted to increase by 100-120 bps year over year. The company expects adjusted earnings per share to be in the range of 2-8 cents. The Zacks Consensus Estimate for fiscal 2017 is currently pegged at 6 cents.
J.C. Penney Company, Inc. Holding Company Price, Consensus and EPS Surprise
Zacks Rank: Currently, J. C. Penney carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stock Movement: J. C. Penney shares are up roughly 13% during pre-market trading hours following the earnings release.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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J. C. Penney Company, Inc. reported third-quarter fiscal 2017 adjusted loss per share of 33 cents that fared better than the prior year quarter loss of 21 cents.
In the trailing four quarters (excluding the quarter under review), the company’s bottom line had outperformed the Zacks Consensus Estimate by an average of 21.7%.
Revenues: J. C. Penney generated total net sales of $2,807 million that decreased 1.8% year over year. Comparable sales rose 1.7% in the quarter, compared with the decline of 0.8% recorded in the prior year quarter.
Outlook: For fiscal 2017, the comps is projected to be in the range of down 1% to flat. Cost of goods sold is now forecasted to increase by 100-120 bps year over year. The company expects adjusted earnings per share to be in the range of 2-8 cents. The Zacks Consensus Estimate for fiscal 2017 is currently pegged at 6 cents.
J.C. Penney Company, Inc. Holding Company Price, Consensus and EPS Surprise
Zacks Rank: Currently, J. C. Penney carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stock Movement: J. C. Penney shares are up roughly 13% during pre-market trading hours following the earnings release.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>