(JCG) J. Crew Group Incorporated – Bullish 21% Growth Projection

November 10th, 2009

J. Crew Group Inc. (JCG) is trading higher ahead of its Nov 24 Q3 earnings announcement, keeping the momentum from the company’s strong Q2 results in tact.

Company Description

J. Crew Group, Inc. operates as a high-end specialty retailer for men, woman and children in the United States. The company was incorporated in 1988 and has a market cap $2.7 billion.

Shares of JCG are up more than 300% over the last 7 months, helped by the overall market and better than expected second-quarter results, reported on Aug 27.

Second-Quarter Results

Sales were up 6% from last year to $357.6 million. Earnings also came in strong at 29 cents per share, almost twice the Zacks Consensus Estimate of 15 cents. The company has beat in each of the last four quarters by an average of 12 cents, or 84%.

Cash and equivalents also jumped higher to $204.3 million from $113.4 last year.

Estimates Jump

The good quarter sent estimates higher, with the current year adding 32 cents and moving to $1.56 per share. The next-year estimate is pegged at $1.88, a bullish 21% growth projection.

Valuation

Based on the current-year estimate, shares of JCG trade with a P/E of 26X, a premium to the overall market.

The Chart

Shares of JCG are up huge over the last 6 months after bottoming out at $9 in early March. More recently, shares have been trading near the short-term high between $40 and $44. Take a look below.

Zacks Investment Research

More on this topic (What's this?)
Earnings Preview: Dollar Tree, Deere, and J. Crew (Wall St. Cheat Sheet, 11/23/09)
Thursday Morning (AlphaNinja, 10/22/09)
Market Updates: Intel (INTC), Marvell Technology (MRVL), J. Crew (JCG), Citigroup (C) (Jutia Group, 8/28/09)
Private equity victimizing public markets? (The Curious Investor, 5/11/09)
Read more on J. Crew Group at Wikinvest

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