J. C. Penney Company, Inc. JCP is slated to report first-quarter fiscal 2016 results on May 13. The big question facing investors now is, whether the company will be able to deliver a positive earnings surprise in the quarter to be reported. In the trailing four quarters, J. C. Penney outperformed the Zacks Consensus Estimate by an average of 35.5%. Let’s see how things are shaping up for this announcement. Zacks Model Shows Unlikely to Beat EstimatesOur proven model does not conclusively show that J. C. Penney is likely to beat estimates this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1, 2 or 3 for this to happen. J. C. Penney has an Earnings ESP of -7.69% as the Most Accurate estimate stands at a loss of 42 cents, while the Zacks Consensus Estimate is pegged at a loss of 39 cents. J. C. Penney’s Zacks Rank #3 (Hold) increases the predictive power of ESP. However, we need to have a positive ESP to be confident about an earnings surprise.Factors Influencing this QuarterManagement is confident that strategic endeavors such as deeper penetration of private brands, focus on omni-channel capabilities and expansion of Sephora stores will continue to fuel strong results. However, a competitive retail landscape and higher debt levels remain a drag. Therefore, for now it would be better to wait and watch how the company’s first-quarter results unfold.J.C. Penney Company Inc. (JCP) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompanyStocks Poised to Beat Earnings EstimatesHere are some companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:The TJX Companies, Inc. TJX has an Earnings ESP of +1.43% and a Zacks Rank #2 (Buy).The Wendy's Company WEN has an Earnings ESP of +16.67% and a Zacks Rank #2.Hormel Foods Corporation HRL has an Earnings ESP of +5.26% and a Zacks Rank #3.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HORMEL FOODS CP (HRL): Free Stock Analysis Report TJX COS INC NEW (TJX): Free Stock Analysis Report WENDYS CO/THE (WEN): Free Stock Analysis Report PENNEY (JC) INC (JCP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research