NEW YORK (TheStreet) -- J.C. Penney Co. (JCP) is scheduled to report its third quarter earnings results after the market close on Wednesday, as analysts expect the company's net loss to narrow to a loss of 80 cents per share, compared to the adjusted net loss of $1.81 per share from a year ago.
The department store chain is expected to post net sales of $2.81 billion for the quarter, up from the $2.78 billion J.C. Penney reported in the third quarter of last year.
J.C. Penney's comps are expected to grow 2.5% during the third quarter, while the gross margin is predicted to remain flat at 36%.
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Shares of J.C. Penney are up 5% to $7.56 in midday trading today.
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 and generally disappointing historical performance in the stock itself."