Noticeable Price Moves: JC Penney Company, Inc. (JCP)

11 November, 2017, 01:23 | Author: Terri Saunders
  • The entrance of a J.C. Penney store

Piper Jaffray Companies set a $4.00 price objective on shares of J.C. Penney Company, Inc. 28,422,477 shares of the company traded hands, compared to its average volume of 19,062,703. Wall Street analysts covering the stock are projecting that the stock will reach $5.71 within the next 52-weeks.

J.C. Penney's results demonstrate the value of underpromising and overdelivering.

Oil prices traded mixed as Brent crude futures rose 0.05 percent to trade at $63.96 per barrel, while US WTI crude futures declined 0.07 percent to trade at $57.13 a barrel.

The stock traded up about 16% in Friday morning, at $3.21 in a 52-week range of $2.35 to $10.74. Furthermore on 10/30/17 Northcoast Research "Downgrades" the stock to Neutral at $0.

Depending on the earnings numbers reported, J. C. Penney Company, Inc. Vanguard Group Inc. grew its position in shares of J.C. Penney Company, Inc. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.

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. Third-quarter results also compare to consensus estimates for a net loss of $0.17 and $2.74 billion in revenue.

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J.C. Penney reported some good news from its third quarter: a 1.7 percent increase in same-store sales that beat forecasts and a smaller loss than expected.

Investors didn't have much hope for J.C. Penney's (NYSE: JCP) third-quarter earnings report after the department store operator released a terrible financial update in late October. During the same quarter a year ago, the business earned ($0.21) earnings per share. Average estimation for the current quarter has been provided by 9 analysts. BlackRock Institutional Trust Company N.A. raised its stake in J.C. Penney by 20.0% in the second quarter.

Now J.C. Penney Company Inc (NYSE:JCP)'s shares owned by insiders are 1.9%, whereas shares owned by institutional owners are 73.5%. (NYSE:JCP) stock. Over the past few months, insider ownership has seen a move of 5.13% while institutional ownership has changed -0.11%. (NYSE:JCP) recent rally took place on significantly less volume which dipped to almost 12.52 million contracts on 08-Nov-17 versus its daily average of 18.95 million.

Japan's Nikkei index saw a wild 2 percent swing after hitting its highest since 1992 and Europe's main indexes were firmly in the red as tech and commodity stocks tumbled and as Brexit talks resumed amid low expectations in Brussels. The firm's revenue was up 1.5% on a year-over-year basis. research analysts forecast that J.C. Penney Company, Inc.

Penney's net loss almost doubled to $128 million from $67 million a year earlier, due to the inventory clearance as well as, among other things, store closing costs. The firm issued a neutral rating and a $7.00 price objective on the department store operator's stock.

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