J.C. Penney

(JCP) - Get Report

said Wednesday that it was comfortable with analysts' current earnings estimates for the third quarter and the full year.

The company also said it will host a business update with a group of investors at its headquarters in Plano, Texas, on Sept. 29. Presentations will focus on ongoing business initiatives at Penney's department stores, catalog division and Eckerd drugstore chain.

Analysts polled by Thomson First Call expect Penney to earn 27 cents a share in the third quarter and $1.26 a share for the full fiscal year.

Shares of Penney closed the prior session at $22.95 on the

New York Stock Exchange

.