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JCP

J.C. Penney

$4.71

-0.45 (-8.72%)

07:32
08/11/17
08/11
07:32
08/11/17
07:32

J.C. Penney reports Q2 adjusted EPS (9c), consensus (5c)

Reports Q2 revenue $2.96B, consensus $2.84B. Comparable sales declined (1.3) % for the second quarter, resulting in a positive two-year stack of 0.9 %. Marvin R. Ellison, chairman and CEO said, "We are pleased to deliver a top line sales increase of 1.5 % and quarterly sequential improvement of 220 basis points in our comp sales performance in go forward stores. While broader retail remains challenged, we are encouraged by the improved performance in our total apparel business, including a significant acceleration in kids' apparel. Nearly all categories delivered improved sales results during the quarter, with our growth initiatives in beauty, home refresh and omnichannel continuing to deliver positive sales growth." Ellison continued, "During the second quarter, we liquidated inventory in 127 of our closing stores which had a negative impact on gross margin and EPS. These events were isolated to the second quarter. As such, we are reaffirming our EPS guidance for the year, and remain confident in our ability to further strengthen our balance sheet, while driving sustainable growth and long-term profitability for JCPenney. To that end, we are pleased that we are off to a strong start in August for the all-important back to school season. We are excited by this momentum and expect to deliver improved results in the back half of the year."

  • 11

    Aug

JCP J.C. Penney
$4.71

-0.45 (-8.72%)

05/15/17
05/15/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Adam Jonas saying the bull thesis on Tesla centers around the company becoming the next Amazon (AMZN) or Apple (AAPL), Jonas tells investors in a research note. The analyst, however, questions if the risks of taking on the tech giants is sufficiently discounted in the share price. He expects "much larger and more well capitalized" competitors to unveil strategies that directly address sustainable transport and mobility. 2. J.C. Penney (JCP) was downgraded to Hold from Buy at Deutsche Bank, to Neutral from Outperform at Baird, and to Neutral from Buy at Buckingham. 3. STMicroelectronics (STM) downgraded to Hold from Buy at Stifel. 4. Level 3 (LVLT) and CenturyLink (CTL) were downgraded to Underperform from Market Perform at Raymond James. 5. TSMC (TSM) downgraded to Neutral from Outperform at Credit Suisse with analyst Randy Abrams saying headwinds from excess inventory, slower China smartphones, and Qualcomm (QCOM) shifts to Samsung (SSNLF) could pressure sales and margins. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/21/17
GDHS
06/21/17
NO CHANGE
GDHS
Nike-Amazon pact yet another department store headwind, says Gordon Haskett
Gordon Haskett analyst noted the reports of Nike (NKE) nearing a deal to sell directly on Amazon (AMZN), which he said wouldn't impact trends overnight but would represent another headwind for department stores, particularly J.C. Penney (JCP) and Kohl's (KSS), where the brand has a larger penetration than at Macy's (M) and Nordstrom (JWN). He keeps an Accumulate rating on Nordstrom, a Hold rating on Macy's and Reduce rating on both J.C. Penney and Kohl's.
06/26/17
GDHS
06/26/17
UPGRADE
Target $4.5
GDHS
Accumulate
J.C. Penney upgraded to Hold from Reduce at Gordon Haskett
Gordon Haskett analyst Chuck Grom upgraded J.C. Penney to Hold from Reduce with a $4.50 price target.
07/12/17
SBSH
07/12/17
NO CHANGE
Target $5
SBSH
Neutral
J.C. Penney price target raised to $5 from $4.50 at Citi
Citi analyst Paul Lejuez raised his price target for J.C. Penney to $5 from $4.50 after the retailer announced that Q2 sales had "significantly improved" versus Q1. The analyst upped his FY17 earnings per share estimate to 53c from 40c and keeps a Neutral rating on Penny.

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Marvell

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HAIN

Hain Celestial

$39.84

1.35 (3.51%)

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HAIN

Hain Celestial

$39.84

1.35 (3.51%)

, NSRGY

Nestle

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0.7 (0.83%)

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SRPT

Sarepta

$56.11

1.07 (1.94%)

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  • 27

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HAIN

Hain Celestial

$40.06

0.21 (0.53%)

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Breaking Hot Stocks news story on Hain Celestial »

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HRG

HRG Group

$16.06

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HAIN

Hain Celestial

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1.35 (3.51%)

, NSRGY

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0.7 (0.83%)

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Breaking Hot Stocks news story on Hain Celestial, Nestle »

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HAIN

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$NSD

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$NYE

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NSRGY

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0.7 (0.83%)

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Hain Celestial

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1.35 (3.51%)

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Periodicals
Breaking Periodicals news story on Nestle, Hain Celestial »

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CRNCY

Cairn Energy

$5.63

0.3383 (6.39%)

, BP

BP

$39.10

0.01 (0.03%)

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Periodicals
BP in talks to buy 30% SNE field stake from Cairn Energy, Reuters reports »

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HAIN

Hain Celestial

$39.98

0.13 (0.33%)

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T

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15:12
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NBRV

Nabriva Therapeutics

$5.80

0.05 (0.87%)

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BLMN

Bloomin' Brands

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AAME

Atlantic American Corp

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VIPS

Vipshop

$9.24

-0.545 (-5.57%)

15:04
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Options
Vipshop options imply 13.3% move in share price post-earnings, above median historical move »

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