Published: Sun, November 12, 2017
Economy | By Melissa Porter

JC Penney Share Jump on Strong Sales

JC Penney Share Jump on Strong Sales

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company.

It's not clear why Penney underestimated its own sales by that much when there was only one day left in the quarter. Holding from $5.00 to $4.00 and set a "neutral" rating on the stock in a research note on Monday, August 14th. Accern also assigned news headlines about the department store operator an impact score of 47.9551660000093 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock's share price in the near term. Investors Asset Management of Georgia Inc.

In other J.C. Penney Company, Inc. Holding will post 0.06 earnings per share for the current fiscal year. Piedmont Investment Advisors LLC purchased a new position in shares of J.C. Penney Company, Inc. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator's stock valued at $103,000 after purchasing an additional 4,205 shares in the last quarter.

Shares of J.C. Penney Co. The company had a trading volume of 4,191,987 shares.

Taking a broader look brokerage firms' analysts on the street with an expectant view have J.C. Penney Company Inc (NYSE:JCP) high price target of $15 and with a conservative view have low price target of $4.

J.C. Penney (NYSE:JCP) got the bad news out of the way with its earnings warning two weeks ago, so shares are naturally rallying hard following the actual news.

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. The company earned $2.86 billion during the quarter, compared to the consensus estimate of $2.95 billion. The Return on Equity (ROE) value stands at -9.6%. It ended the quarter with inventory that's 8.8 percent below a year ago. Zacks Investment Research upgraded shares of J.C. Penney Company, Inc. Analyst had projected a 43 cents loss.

JCP has been the topic of a number of other reports. 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%. Holding and gave the company a "market perform" rating in a research report on Saturday, August 12th. Citigroup Inc. boosted their target price on J.C. Penney Company, Inc. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. They often look for the average analyst rating. The stock was acquired at an average price of $3.64 per share, for a total transaction of $491,891.40. The shares were bought at an average cost of $3.48 per share, for a total transaction of $348,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. For the next 5 years, J. C. Penney Company, expecting Growth of -28% per annum, whereas in the past 5 years the growth was 9.37% per annum.

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