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.

More news: Packers waive TE Martellus Bennett, ending short tenure
More news: Taylor Swift's New Album: When Does 'Reputation' Release?
More news: Target Fidget Spinners Need to Get the Lead Out, PIRG Says

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.

Recommended

Russian Federation crafting new law forcing United States media to register as 'foreign agents' Russian Federation  crafting new law forcing United States  media to register as 'foreign agents' The Duma is obliged to give its laws two preliminary approvals before passing them, which Volodin said could happen next week. Twitter has already banned advertising from RT and Sputnik, another Russian news outlet.

JEFFERIES: Nvidia has 'tectonic upside' (NVDA) JEFFERIES: Nvidia has 'tectonic upside' (NVDA) Wellington Mngmt Ltd Liability Partnership holds 0.01% in American Airlines Group Inc (NASDAQ:AAL) or 1.00 million shares. The computer hardware maker reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.37.

Pixel 2 problems surface again, this time with Google Assistant Pixel 2 problems surface again, this time with Google Assistant As mentioned above, the latest issue concerns the Google Pixel 2 XL flashing screen that flooded Google's support forums. A number of users have reported that blowing into the bottom speaker or USB port seems to solve the microphone issue .

OnePlus 5T Could Be More Expensive Than The OnePlus 5 OnePlus 5T Could Be More Expensive Than The OnePlus 5 Their Dash Charge technology produces 20W of power which "reliably" gives a day's power in half an hour to their device. Until wireless charging can reach that level of speed, it will remain my less-preferred option to true fast charging.

Cowboys' Elliott mum amid more legal limbo over 6-game ban Cowboys' Elliott mum amid more legal limbo over 6-game ban Still, here was are in November and Elliott has yet to miss a single game through the first nine weeks of the regular season. If there are no further interruptions, Elliott will be out until Week 16.