JC Penney Company Inc Stock Surges on Surprising Q3 Earnings

Media headlines about J.C. Penney Company, Inc. Argus reissued a "hold" rating on shares of J.C. Penney in a research report on Tuesday, December 6th. Finally, Piper Jaffray Companies set a $3.00 price objective on shares of J.C. Penney Company, Inc. Holding from $3.00 to $4.00 and gave the company a neutral rating in a research report on Friday, October 27th. Holding and gave the company a hold rating in a research note on Monday, July 10th. Finally, Quantitative Investment Management LLC bought a new stake in J.C. Penney Company, Inc. Holding from a "sell" rating to a "hold" rating in a research note on Saturday, August 26th.

Some buy side analysts are also providing their Analysis on J. C. Penney Company, Inc., where 1 analysts have rated the stock as Strong buy, 1 analysts have given a Buy signal, 18 said it's a HOLD, 0 reported it as Underperform and 1 analysts rated the stock as Sell.

Twenty-First Century Fox Inc. They often look for the average analyst rating. The stock had a trading volume of 54,355,398 shares, compared to its average volume of 19,264,994. In the past 52 weeks the company's stock price has moved within the range of $2.35 to $10.74. The company has a current ratio of 1.45, a quick ratio of 0.24 and a debt-to-equity ratio of 3.51. The firm has a market cap of $860.75, a price-to-earnings ratio of 6.93 and a beta of 0.53. The company reported the earnings of $-0.09/Share in the last quarter where the estimated EPS by analysts was $-0.05/share. The Return on Equity (ROE) value stands at -9.6%. Despite this decline, it still came in above analysts' revenue estimate of $2.74 billion for the third quarter of the year. It ended the quarter with inventory that's 8.8 percent below a year ago. Adjusted losses were 33 cents per share, or a dime better than analysts polled by Zacks Investment Research had expected. Holding will post 0.06 earnings per share for the current fiscal year. Bank of New York Mellon Corp's holdings in J.C. Penney were worth $31,781,000 at the end of the most recent reporting period. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States & global trademark and copyright legislation. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2017/11/10/j-c-penney-company-inc-holding-company-jcp-pt-set-at-4-00-by-b-riley.html. The stock was purchased at an average cost of $3.62 per share, with a total value of $181,000.00. And after closing 138 stores, total sales fell 1.8 percent to $2.81 billion, which shows how unproductive some stores had become. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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In other J.C. Penney news, EVP John Joseph Tighe III sold 38,756 shares of the stock in a transaction dated Friday, November 18th. 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 disclosure for this purchase can be found here. However the six-month change in the insider ownership was recorded 5.13%, as well as three-month change in the institutional ownership was recorded -0.11%.

Several research analysts have recently issued reports on the company. Also, Director Paul J. Brown acquired 25,000 shares of J.C. Penney Company, Inc. Our growth strategies and new apparel initiatives led to sequential comp sales improvement in almost all merchandise categories in the third quarter, giving us confidence that our overall strategy and transformation is beginning to take hold.

  • Rita Burton