J C Penney Company Inc (JCP) Releases Earnings Results, Beats Expectations By $0.15 EPS

J C Penney Company Inc (JCP) reported quarterly earnings results on Friday, May-13-2016. The company said it had a profit of $-0.22 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.15. Analysts had a consensus of $-0.37. The company posted revenue of $2811.00 million in the period, compared to analysts expectations of $2923.46 million. The company’s revenue was down -1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.55 EPS.

Many Wall Street Analysts have commented on J C Penney Company Inc. Jefferies Initiated J C Penney Company Inc on May 10, 2016 to “Hold”, Price Target of the shares are set at $9.Shares were Reiterated by JP Morgan on May 6, 2016 to “Neutral” and Lowered the Price Target to $ 7 from a previous price target of $10 .J C Penney Company Inc was Upgraded by Northcoast to ” Buy” on Apr 4, 2016.

J C Penney Company Inc closed down -0.34 points or -4.03% at $8.09 with 1,87,51,920 shares getting traded on Tuesday. Post opening the session at $8.34, the shares hit an intraday low of $7.99 and an intraday high of $8.38 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Mar 9, 2016, Marvin R Ellison (CEO) purchased 50,000 shares at $11.80 per share price. According to the SEC, on May 18, 2015, Brynn Evanson (EVP, HR) sold 6,761 shares at $8.44 per share price.

J. C. Penney Company Inc. (JCPenney) is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation Inc. (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and Website at jcpenney.com which utilizes applications for desktop mobile and tablet devices. The Company’s online customer purchases by direct shipment to the customer from its distribution facilities and stores or from its suppliers’ warehouses and by in store customer pick up. The Company sells family apparel and footwear accessories fine and fashion jewelry beauty products through Sephora inside JCPenney and home furnishings. The Company’s department stores provide its customers with services such as styling salon optical portrait photography and custom decorating.

J C Penney Company Inc

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