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Main » JC Penney stock higher from a better results than expected

JC Penney stock higher from a better results than expected

11 November 2017

Additionally on 10/30/17 BMO Capital "Maintained" J.C. Penney Company Inc (NYSE:JCP) to Market Perform setting price target at $2.8 and on 10/30/17 B. Riley "Maintained" the stock to Neutral at $3.8. Citigroup Inc. downgraded J.C. Penney Company, Inc. Its quick ratio for the most recent quarter is 1.20.

Large investors have recently added to or reduced their stakes in the stock.

It's not clear why Penney underestimated its own sales by that much when there was only one day left in the quarter. Finally, Teachers Advisors Inc. raised its stake in J.C. Penney by 13.3% in the second quarter. Holding has a 1-year low of $2.35 and a 1-year high of $10.74.

Credit Suisse Group AG initiated coverage on shares of J.C. Penney Co. Holding by 5.6% in the first quarter.

J. C. Penney Company, Inc is a holding company.

In the latest week Sprint Corporation (NYSE:S) stock volatility was recorded 5.34% which for the previous full month was noted 3.97%. Institutional investors and hedge funds own 87.09% of the company's stock. Image source: J.C. Penney. (NYSE:JCP) has became attention seeker from the inquisitor when it experienced a change of 9.56%.Whereas, in last 21 trading days was -20.98% and moved up in last 63 trading days of -30.03%. The relative volume (ratio between current volume and 3-month average) is presently sitting at 1.00. Over the last ninety days, insiders acquired 310,135 shares of company stock valued at $1,111,391. Total debt to equity ratio of the company for most recent quarter is 0.00 whereas long term debt to equity ratio for most recent quarter is 0.00.

J.C. Penney posted weak earnings for the third quarter.

J.C. Penney's net loss widened to $128 million, or 41 cents per share, in the quarter ended October 28, from $67 million, or 22 cents per share, a year earlier, partly because of the heavy discounting. The Return on Equity (ROE) value stands at -9.6%.

Revenue was $2.81 billion, also exceeding Street forecasts for $2.76 billion.

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Excluding certain items, the company lost 33 cents per share, less than 40 to 45 cents lost it had previously estimated.

Marvin Ellison, chairman and CEO of J.C. Penney, said the company was encouraged by the stronger-than-expected growth in comparable store sales. The firm has a market capitalization of $975.73, a P/E ratio of 6.28 and a beta of 0.53. Citigroup Inc. upped their target price on J.C. Penney Company, Inc. BidaskClub upgraded J.C. Penney Company, Inc. Holding and gave the stock a "hold" rating in a research report on Friday, October 27th. Holding in a research note on Thursday, September 14th.

About J.C. Penney Company, Inc.

That said, J.C. Penney does expect gross margin to be flat or up slightly in the fourth quarter. Holding from a buy rating to a hold rating in a report on Saturday, August 12th. The company has a consensus rating of Hold and an average target price of $5.06.

In other news, EVP John Joseph Tighe III sold 38,756 shares of the business's stock in a transaction that occurred on Friday, November 18th.

Traders might be following the technicals on shares of Vaporbrands International Inc (VAPR). after a recent check, we have noticed that the PPOH level is now below zero. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Several studies suggest that positive earnings surprises not only lead to an immediate hike in a stock's price, but also to a gradual increase over time. The stock was bought at an average cost of $3.62 per share, with a total value of $90,500.00. The disclosure for this purchase can be found here.

As regular trading ended, EV Energy Partners, L.P. (EVEP) stock brought in a -$0.07 drop to $1.

TRADEMARK VIOLATION NOTICE: This piece was posted by TrueBlueTribune and is owned by of TrueBlueTribune.

JC Penney stock higher from a better results than expected