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Surging Earnings Estimates Signal Good News for J. C. Penney (JCP)

Zacks

J. C. Penney Company, Inc. JCP is one of the nation`s largest apparel and home furnishings retailers that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on JCP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that J. C. Penney could be a solid choice for investors.

Current Quarter Estimates for JCP

In the past 30 days, seven estimates have gone higher for J. C. Penney while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing 41 cents a share 30 days ago, to 44 cents today, a move of 7.3%.

Current Year Estimates for JCP

Meanwhile, J. C. Penney’ current year figures are also looking quite promising, with eight estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 7 cents a share 30 days ago, to 10 cents today, an increase of 42.9%.

J.C. Penney Company, Inc. Holding Company Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 15.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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