Saturday, 18 November, 2017

JC Penney Company, Inc. Earnings: Better Than Feared

Liberty Media – Series C Liberty Formula One (FWONK) Reaches $38.77 After 8.00% Up Move; JC Penney Co (JCP)'s ... JC Penney stock higher from a better results than expected
Juana Turner | 11 November, 2017, 00:55

Holding and gave the company a hold rating in a report on Monday, October 30th. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

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).

Shares of J.C. Penney (NYSE:JCP) traded up 0.71% during midday trading on Monday, hitting $9.93. While the company will face a somewhat easier year-over-year comparison, that would still represent a significant break from the recent trend. Piper Jaffray Companies set a $4.00 price objective on shares of J.C. Penney Company, Inc. One of the more popular combinations is to use the 50-day and 200-day moving averages.

Trading volume is a gauge of how many times a stock is bought and sold in a given time period (most commonly, within a day of trading, known as the average daily trading volume - ADTV). (NYSE:JCP) shares have seen a move of -69.80%. The company reported the earnings of $-0.09/Share in the last quarter where the estimated EPS by analysts was $-0.05/share. Analysts are turning out to be more optimistic than before, with 2 of analysts who cover J. C. Penney Company, Inc. It also projected per-share profits of between 2 and 8 cents for the year, way down from an earlier outlook of between 40 cents to 65 cents.

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.

Same-store sales were up 1.7%, exceeding the company's previously announced guidance of 0.6% to 0.8% comparable store growth.

Digging deeping into the Multicell Techs Inc (MCET) 's technical indicators, we note that the Williams Percent Range or 14 day Williams %R now sits at 0.00.

In other news, Director Javier G. Teruel acquired 135,135 shares of the firm's stock in a transaction that occurred on Tuesday, August 22nd. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.02% of the company's stock.

Other large investors have also added to or reduced their stakes in the company. Zacks Investment Research cut shares of J.C. Penney Company, Inc. Geode Capital Management LLC boosted its holdings in J.C. Penney Company, Inc. BlackRock Institutional Trust Company N.A. raised its stake in J.C. Penney by 20.0% in the second quarter. It had said in late October, near the end of the quarter, that the metric, which eliminates the impact of newly opened or closed stores (it has closed 139 stores this year), would rise 0.6% to 0.8%. Rhumbline Advisers raised its position in J.C. Penney Company, Inc. TCW Group Inc. now owns 15,851,908 shares of the department store operator's stock worth $140,765,000 after buying an additional 1,511,885 shares in the last quarter. If J.C. Penney can deliver another quarter of comp sales growth while stabilizing gross margin, investors might finally gain confidence that J.C. Penney's weak 2017 was just an anomaly.


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