Nomura Securities Maintains a 'Neutral' on J. C. Penney (JCP); Lowering Q1 Estimates
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Price: $18.98 -2.11%
Rating Summary:
5 Buy, 13 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
5 Buy, 13 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade JCP Now!
Nomura Securities maintains a 'Neutral' on J. C. Penney (NYSE: JCP) price target of $40.00.
Analyst, Paul Lejuez, said, "JCP will report 1Q on 5/15. We are lowering our 1QE EPS from $0.06 to $0.02 based on a lower comp forecast. We now expect comps down (13)-(15)% vs. (6)-(8)% prev. Cons is looking for comps (7)% and EPS of $0.03. Our F12E of $1.45 is unchanged, as we expect a greater improvement in 2H. JCP has not provided qtrly EPS guidance but indicated it expects F12 of ~$1.59. While the marketing campaign may drive traffic, we believe tangible signs of the reinvented JCP are not evident in assortments and merchandising, creating disappointment (and weak conversion). We expect JCP to cushion the 1Q sales disappointment by announcing several new brand partnerships."
For an analyst ratings summary and ratings history on J. C. Penney click here. For more ratings news on J. C. Penney click here.
Shares of J. C. Penney closed at $35.67 yesterday, with a 52 week range of $23.44-$43.18.
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Analyst, Paul Lejuez, said, "JCP will report 1Q on 5/15. We are lowering our 1QE EPS from $0.06 to $0.02 based on a lower comp forecast. We now expect comps down (13)-(15)% vs. (6)-(8)% prev. Cons is looking for comps (7)% and EPS of $0.03. Our F12E of $1.45 is unchanged, as we expect a greater improvement in 2H. JCP has not provided qtrly EPS guidance but indicated it expects F12 of ~$1.59. While the marketing campaign may drive traffic, we believe tangible signs of the reinvented JCP are not evident in assortments and merchandising, creating disappointment (and weak conversion). We expect JCP to cushion the 1Q sales disappointment by announcing several new brand partnerships."
For an analyst ratings summary and ratings history on J. C. Penney click here. For more ratings news on J. C. Penney click here.
Shares of J. C. Penney closed at $35.67 yesterday, with a 52 week range of $23.44-$43.18.
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