NEW YORK (TheStreet) -Shares of J.C. Penney Company Inc. (JCP) are higher by 3.64% to $9.40 on heavy volume in mid-afternoon trading today following favorable analyst expectations regarding the clothing and accessories retailer's 2014 second quarter results.
ITG Research estimates J.C. Penney's results for the 2014 second quarter will be in line or ahead of the consensus estimate of $2.78 billion in revenue. The firm also expects J.C. Penney to report a 6.2% growth in same-store-sales above the consensus forecast of a 5.8% growth year over year, Benzinga reports.
Cleveland Research is also expecting positive second quarter results, due to the company's refocusing on private label apparel, which is helping to regain shares, Benzinga added.
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J.C. Penney's 2014 second quarter earnings results are estimated to be released on August 18.
Separately, TheStreet Ratings team rates PENNEY (J C) CO as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate PENNEY (J C) CO (JCP) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, poor profit margins, generally disappointing historical performance in the stock itself and deteriorating net income."