JC Penney's same-store sales come in above its estimates
Nov 11, 2017, 00:29
Holding (NYSE JCP) traded up $0.38 during mid-day trading on Monday, reaching $3.13. Past 5 years growth of J.C. Penney Company Inc (NYSE:JCP) observed at 9.37%, looking forward for the next 5 years it has a strong prediction of -28% over growth.
Credit Suisse Group AG initiated coverage on shares of J.C. Penney Co.
Last month, the company said that it expected a per-share loss of between 40 and 45 cents for the quarter. Ameriprise Financial Inc. grew its position in shares of J.C. Penney Company, Inc. Finally, Quinn Opportunity Partners LLC increased its position in J.C. Penney Company, Inc.
As of 1540 GMT, shares had gained 15.73% to $3.20 each. Corporate insiders own 1.02% of the company's stock.
The Relative Volume of the company is 1.3 and Average Volume (3 months) is 18.92 million.
Germany's 10-year bond yield edged up for the first time in more than a week and the euro and pound were both higher as the long-running saga of USA tax reforms weighed on the dollar. The company has managed to keep price to sales ratio of 0.06 against an industry average of 4.80. (NYSE:JCP) in a research report sent to investors on Monday morning. The department store operator reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03).
Wall Street analysts are predicting that Lumber Liquidators Holdings Inc (NYSE:LL) will report earnings per share of $0.02 in their quarterly report. A negative earnings surprise will usually result in a decline in share price.
A number of other research firms have also commented on JCP. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.
J. C. Penney Company, Inc.'s stock has performed at -66.91%. J.C. Penney has a variety of initiatives in place to offset these headwinds, but they haven't been sufficient recently. They may look to the 50-day or 20-day to get a better grasp of what is going on with the stock in the near-term. Vertex One Asset Management Inc. raised its stake in J.C. Penney by 988.9% in the second quarter. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock's average target of $9.75 is 272.14% above today's ($2.62) share price.
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. The stock was acquired at an average cost of $3.48 per share, with a total value of $348,000.00. Following the completion of the acquisition, the director now directly owns 68,123 shares of the company's stock, valued at $246,605.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Earnings surprises can have a huge impact on a company's stock price. The disclosure for this purchase can be found here. Its revenue stood at -6.20% a year on average in the period of last five years.
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