JC Penney's Comps Improve 1.7 Percent In Q3

Lucy Hill
November 11, 2017

The Relative Volume of the company is 1.3 and Average Volume (3 months) is 18.92 million.

Not all of J. C. Penney's earnings picture was positive. Liquidity allows an investor to enter and exit a stock at a good price (i.e. tight spreads, or the difference between the bid and ask price of a stock, and low slippage, or the difference between the predictable price of a trade and the actual price). Bank of America Corp. upgraded shares of J.C. Penney from a neutral rating to a buy rating and boosted their price objective for the stock from $9.53 to $12.00 in a report on Friday. The correct version of this piece can be accessed at https://www.truebluetribune.com/2017/11/10/northcoast-research-downgrades-j-c-penney-company-inc-holding-company-jcp-to-neutral.html.

J.C. Penney, though, had extra challenges in restoring sales after a disastrous attempt to reinvent the company under former Apple executive Ron Johnson. The company's beta value is at 0.48.

Ratings analysis reveals 50% of J. C. Penney's analysts are positive. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell. The department store operator reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03).

Heading into the earnings release, covering sell-side analysts have a consensus target price of $3.72 on J. C. Penney Company, Inc. shares. The company posted an earnings surprise of -80%.

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These analysts also forecasted Growth Estimates for the Current Quarter for JCP to be 19%. "We expect 29% to 35% year-over-year increase in gross merchandise volume growth for this event, as the company benefits from strong online consumer demand driven by aggressive Tmall promotions, a large increase in participating global brands, and contribution from the New Retail marketing effort", wrote analysts led by Youssef Squali.

Total sales for the quarter were down 1.8% to $2.18 billion, with company officials pointing to the closure of 139 stores as the key reason for the decline. Holding Company (NYSE:JCP) by 76.0% during the 2nd quarter, according to its most recent disclosure with the SEC. (NYSE:JCP) stock. Over the past few months, insider ownership has seen a move of 5.13% while institutional ownership has changed -0.11%.

J.C. Penney Company Inc (NYSE:JCP) 52-week high price stands at $10.74 and low price stands at $2.35, its price distance from 52-week high is -74.39% while its distance from 52-week low price is 17.02%. However, it is still down by about 70% from its 52-week high, reached last December.

But, the firm widened its net loss to $128 million, or 41 cents per share, from $67 million, or 22 cents per share in the comparable period. (JCP) stock directed -67.11% toward a lower level throughout a year ago and swapped -20.98% toward a weak spot during past one month.

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