J. C. Penney Company, Inc. reported fourth-quarter fiscal 2017 adjusted earnings per share of 57 cents that fared better than the Zacks Consensus Estimate of 45 cents. However, earnings declined 10.9% from the prior year quarter.
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 26.4%.
Revenues: J. C. Penney generated total net sales of $4,031 million that increased 1.8% year over year but came almost in line with the Zacks Consensus Estimate of $4,035 million. Comparable sales rose 2.6% in the quarter.
Key Events: J. C. Penney reduced its outstanding debt by more than $600 million in fiscal 2017.
Outlook: For fiscal 2018, comps are projected to be in the range of flat to up 2%. Further, the company expects adjusted earnings per share in the band of 5-25 cents. The Zacks Consensus Estimate for fiscal 2018 is currently pegged at 18 cents.
Further, the company will follow the new accounting standards effective first-quarter fiscal 2018.
Zacks Rank: Currently, J. C. Penney carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: J. C. Penney shares are down roughly 7.8% during pre-market trading following the earnings release.
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J. C. Penney (JCP) Stock Falls Despite Q4 Earnings Beat
J. C. Penney Company, Inc. reported fourth-quarter fiscal 2017 adjusted earnings per share of 57 cents that fared better than the Zacks Consensus Estimate of 45 cents. However, earnings declined 10.9% from the prior year quarter.
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 26.4%.
J.C. Penney Company, Inc. Holding Company Price and Consensus
J.C. Penney Company, Inc. Holding Company Price and Consensus | J.C. Penney Company, Inc. Holding Company Quote
Revenues: J. C. Penney generated total net sales of $4,031 million that increased 1.8% year over year but came almost in line with the Zacks Consensus Estimate of $4,035 million. Comparable sales rose 2.6% in the quarter.
Key Events: J. C. Penney reduced its outstanding debt by more than $600 million in fiscal 2017.
Outlook: For fiscal 2018, comps are projected to be in the range of flat to up 2%. Further, the company expects adjusted earnings per share in the band of 5-25 cents. The Zacks Consensus Estimate for fiscal 2018 is currently pegged at 18 cents.
Further, the company will follow the new accounting standards effective first-quarter fiscal 2018.
Zacks Rank: Currently, J. C. Penney carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: J. C. Penney shares are down roughly 7.8% during pre-market trading following the earnings release.
Don’t Even Think About Buying Bitcoin Until You Read This
The most popular cryptocurrency skyrocketed last year, giving some investors the chance to bank 20X returns or even more. Those gains, however, came with serious volatility and risk. Bitcoin sank 25% or more 3 times in 2017.
Zacks’ has just released a new Special Report to help readers capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 4 crypto-related stocks now >>