Shares of J. C. Penney Company, Inc. plunged roughly 27% during the trading hours on Aug 16, following the company’s soft second-quarter 2018 results. The company’s sluggish top line, gross margin contraction and widened loss per share were the reasons behind the stock’s debacle. Lower-than-expected results along with the slashed fiscal 2018 guidance hurt investors’ sentiments.
The company’s bearish run yesterday led the shares to plunge 28.2% as against the industry’s decline of 3% in the past month.
The company posted adjusted loss per share of 38 cents that fared unfavorably with the Zacks Consensus Estimate of a loss of 8 cents. Also, the loss figure was wider than the year-ago figure of a loss of 7 cents.
J. C. Penney, which shares space with Macy's (M - Free Report) , generated total revenues of $2,829 million that decreased 7.8% year over year and also fell short of the Zacks Consensus Estimate of $2,885 million.
We note that total net sales of $2,762 million fell 7.5% year over year due to 141 store closures in fiscal 2017. Credit income and other came in at $67 million, down 19.3% on a year-over-year basis.
J. C. Penney Company, Inc. Price, Consensus and EPS Surprise
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 >>
Shares of J. C. Penney Company, Inc. plunged roughly 27% during the trading hours on Aug 16, following the company’s soft second-quarter 2018 results. The company’s sluggish top line, gross margin contraction and widened loss per share were the reasons behind the stock’s debacle. Lower-than-expected results along with the slashed fiscal 2018 guidance hurt investors’ sentiments.
The company’s bearish run yesterday led the shares to plunge 28.2% as against the industry’s decline of 3% in the past month.
The company posted adjusted loss per share of 38 cents that fared unfavorably with the Zacks Consensus Estimate of a loss of 8 cents. Also, the loss figure was wider than the year-ago figure of a loss of 7 cents.
J. C. Penney, which shares space with Macy's (M - Free Report) , generated total revenues of $2,829 million that decreased 7.8% year over year and also fell short of the Zacks Consensus Estimate of $2,885 million.
We note that total net sales of $2,762 million fell 7.5% year over year due to 141 store closures in fiscal 2017. Credit income and other came in at $67 million, down 19.3% on a year-over-year basis.
J. C. Penney Company, Inc. Price, Consensus and EPS Surprise
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 >>
Get the latest research report on M - FREE
Get the latest research report on DLTR - FREE
Get the latest research report on ANF - FREE