01.03.2019, 00:27
Services | Department Stores | USA
J.C. Penney Shares Surge After Earnings Beat, Free Cash Flow Positive Forecast
J.C. Penney posts stronger-than-expected fourth-quarter earnings and says it expects to be free-cash-flow positive in the coming year, sending shares sharply higher.
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JCP shares rose as much as 31.5% to $1.63 Thursday morning, but settled back a bit to $1.59 shortly before noon, up 28.2% on the day. The name rallied after Penney said earnings for the three months ended Feb. 2 came in at 18 cents per share, down 68% from the same period last year but 7 cents ahead of the consensus Street forecast.
Group sales were pegged at $3.67 billion, the company said, down 8.9% from last year and just shy of the $3.78 billion consensus collected by Refinitiv. Penney also said same-store sales fell 4% from the same period last year, a figure that beat the 4.3% analysts' estimate.
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https://www.thestreet.com/investing/earn...t-14881068
![[Bild: JCPc1dl1726.png]](https://finviz.com/publish/022819/JCPc1dl1726.png)
J.C. Penney Shares Surge After Earnings Beat, Free Cash Flow Positive Forecast
J.C. Penney posts stronger-than-expected fourth-quarter earnings and says it expects to be free-cash-flow positive in the coming year, sending shares sharply higher.
...
JCP shares rose as much as 31.5% to $1.63 Thursday morning, but settled back a bit to $1.59 shortly before noon, up 28.2% on the day. The name rallied after Penney said earnings for the three months ended Feb. 2 came in at 18 cents per share, down 68% from the same period last year but 7 cents ahead of the consensus Street forecast.
Group sales were pegged at $3.67 billion, the company said, down 8.9% from last year and just shy of the $3.78 billion consensus collected by Refinitiv. Penney also said same-store sales fell 4% from the same period last year, a figure that beat the 4.3% analysts' estimate.
...
https://www.thestreet.com/investing/earn...t-14881068