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11 November 2017, 12:56 | Austin Hogan
JC Penney rallies as FQ3 not as bad as feared
Finally, Piper Jaffray Companies set a $3.00 price objective on shares of J.C. Penney Company, Inc.
Past 5 years growth of ANF observed at -48.50%, and for the next five years the analysts that follow this company is expecting its growth at 18.00%. The brokerage presently has a "hold" rating on the department store operator's stock. A rating of 4 or 5 would indicate a Sell.
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Analysts have given a mean recommendation of 2.00 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).
Previously J.C. Penney Company Inc (NYSE:JCP) reported $-0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $-0.05 by $-0.04.
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Last month, the company said that it expected a per-share loss of between 40 and 45 cents for the quarter.
J.C. Penney, like other department stores, has struggled to follow shoppers who have migrated online or who are now going to off-price retailers like T.J. Maxx. The firm has a 50-day moving average price of $8.94 and a 200 day moving average price of $9.08. At the close of regular trading, its last week's stock price volatility was 17.79% which for the month reaches 36.3%. (NYSE:JCP) are scrambling higher in today's trading session. Still, thanks to the higher sales volume, J.C. Penney reported an adjusted loss of $0.33 per share. Northcoast Research also issued estimates for J.C. Penney Company, Inc. Net sales fell 1.7 percent to $2.81 billion in the fiscal third quarter, beating analysts' estimates of $2.77 billion.
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. J.C. Penney Co. Inc. reports earnings Friday, Nov. 10, 2017. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Most company stocks have very little volatility.
Ellison said on Friday that J.C. Penney will not need to liquidate inventory again in the fourth quarter. Over the last quarter, insiders have bought 310,135 shares of company stock valued at $1,111,391. Geode Capital Management LLC boosted its holdings in J.C. Penney Company, Inc.
While looking at the Stock's Performance, J. C. Penney Company, Inc. now shows a Weekly Performance of 7.84%, where Monthly Performance is -20.98%, Quarterly performance is -30.03%, 6 Months performance is -39.56% and yearly performance percentage is -67.11%. The company's price to sales ratio for trailing twelve months is - and price to book ratio for most recent quarter is 7.48, whereas price to cash per share for the most recent quarter is 7.06. Pinebridge Investments L.P. purchased a new stake in J.C. Penney Company, Inc. SG Americas Securities LLC grew its position in shares of J.C. Penney Company, Inc.
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