Thursday, 23 November, 2017

JC Penney Holding On To Strong Gain In Afternoon Trading

JCPenney J C Penney is scheduled to report earnings before the open on Friday Nov. 10
Jo Caldwell | 11 November, 2017, 00:57

(JCP) will report its next earnings on Nov 10 BMO. Holding worth $1,442,000 as of its most recent filing with the SEC.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in shares of J.C. Penney Company, Inc. Holding by 33.6% in the first quarter. Revenue, on the other hand, scored 4.95% growth from the previous quarter, coming up with $2.84 billion. After a recent check, the 14-day RSI for Multicell Techs Inc is now at 53.19, the 7-day stands at 57.04, and the 3-day is sitting at 68.94.

Data source: J.C. Penney Q3 earnings report. Holding by 9.8% in the second quarter. Image source: J.C. Penney. (NYSE:JCP) had a closing price of $2.51 yesterday.

The Relative Volume of the company is 1.3 and Average Volume (3 months) is 18.92 million. With the PPOH below zero, traders may be alerted that the stock is in sell territory. Its book value per share for the most recent quarter is $3.72 while its price to book ratio for the same period is 0.74, as for as the company's cash per share for the most recent quarter is $0.94, however its price to cash per share ratio for the same period is 2.93. Earnings surprises can have a huge impact on a company's stock price.

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.

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

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JCP has been the topic of a number of analyst reports. BidaskClub upgraded J.C. Penney Company, Inc. Analysts reported that the Price Target for J. C. Penney Company, Inc. might touch $5 high while the Average Price Target and Low price Target is $3.34 and $1.5 respectively. Holding and gave the company a "hold" rating in a research note on Sunday, October 29th.

About J.C. Penney Company, Inc. Holding in a report on Monday, August 14th.

That said, J.C. Penney does expect gross margin to be flat or up slightly in the fourth quarter. 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. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Meanwhile, the average 12-month price target from Wall Street analysts is now $3.72, this means that the stock is underpriced by 32.527%.

In other news, Director Javier G. Teruel acquired 135,135 shares of the firm's stock in a transaction that occurred on Tuesday, August 22nd. Shares have been trading at historic lows, gained 24 cents or 9.6 percent, to close Thursday at $2.75 a share. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The disclosure for this purchase can be found here. Corporate insiders own 1.02% of the company's stock.

COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of USA and worldwide copyright and trademark legislation. In it, J.C. Penney acknowledged that getting rid of old inventory and transitioning to a new women's apparel assortment was tougher than expected.


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