Published: Sat, November 11, 2017
Markets | By Erika Turner

JC Penney Share Jump on Strong Sales

JC Penney Share Jump on Strong Sales

Average estimation for the current quarter has been provided by 9 analysts. Finally, Guggenheim started coverage on shares of J.C. Penney in a report on Friday, September 30th. The brokerage presently has a "hold" rating on the department store operator's stock.

In terms of Buy, Sell or Hold recommendations, J.C. Penney Company Inc (NYSE:JCP) has analysts' mean recommendation of 3. The stock has a consensus rating of "Hold" and an average target price of $5.06.

As the earnings date approaches, we can see that insider ownership is now 1.90% shares, and institutional ownership is at 73.50% for J. C. Penney Company, Inc. The stock witnessed -20.98% declines, -30.03% declines and -39.56% declines for the 1-month, 3-month and 6-month period, respectively. Ellison acknowledged to analysts on a call Friday that J.C. Penney was behind in chasing the active and casual clothing trend, and is using analytics to understand shoppers' behavior. Currently, the 200-day MA is sitting at 0.00, and the 50-day is 0.00. Many traders will use a combination of moving averages with different time frames to help review stock trend direction.

According to analysts J.C. Penney Company Inc (NYSE:JCP)'s minimum EPS for the current quarter is at $-0.31 and can go high up to $-0.1.

Analysts had been expecting the worst: Two week ago, Penney cut its annual forecast and estimated that third quarter same-store sales would inch up 0.6% to 0.8%. Holding had a negative net margin of 0.94% and a positive return on equity of 10.55%.

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American department store chain JC Penney reported same-store sales growth that more than doubled analysts' forecasts, sending its stock price surging.

While looking at the Stock's Performance, J. C. Penney Company, Inc. now shows a Weekly Performance of 7.84%, where Monthly Performance is -20.98%, Quarterly performance is -30.03%, 6 Months performance is -39.56% and yearly performance percentage is -67.11%. Holding news, Chairman Marvin R. Ellison purchased 100,000 shares of the stock in a transaction on Friday, August 18th. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. First Dallas Securities Inc. owns 478,750 shares or 1.63% of their United States portfolio.

Other large investors have also added to or reduced their stakes in the company.

Last month, the company had said it expected a per-share loss of between 40 and 45 cents for the quarter. Over the last quarter, insiders have bought 310,135 shares of company stock valued at $1,111,391. The stock's price to sales ratio for trailing twelve months is 0.26 and price to book ratio for the most recent quarter is 0.72, whereas price to cash per share for the most recent quarter are 2.01. Cambridge Investment Research Advisors Inc. raised its position in J.C. Penney Company, Inc. The stock was acquired at an average cost of $3.62 per share, for a total transaction of $181,000.00.

J.C. Penney Company, Inc.

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