JC Penney rallies as FQ3 not as bad as feared

JC Penney rallies as FQ3 not as bad as feared

J.C. Penney is now up by 14.9 percent. 100,000 shares traded per day would be a minimum for most traders and some require 1,000,000. Holding by 11,522.1% in the first quarter. It's worth noting that one quarter does not a turnaround make.

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.

SG&A expenses for the quarter declined $48 million to $840 million, or 29.9 percent of sales, and decreased 120 basis points as a percentage of sales compared to the same period previous year.

In terms of Buy, Sell or Hold recommendations, J.C. Penney Company Inc (NYSE:JCP) has analysts' mean recommendation of 3. Over the last ninety days, insiders acquired 310,135 shares of company stock valued at $1,111,391. The firm issued a neutral rating and a $7.00 price objective on the department store operator's stock. Finally, Quinn Opportunity Partners LLC increased its position in J.C. Penney Company, Inc. Holding by 9.8% in the second quarter.

As of 1540 GMT, shares had gained 15.73% to $3.20 each. Most company stocks have very little volatility.

J.C. Penney Company, Inc. It was last traded at $2.51 apiece.

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The Relative Volume of the company is 1.3 and Average Volume (3 months) is 18.92 million. (NYSE:JCP) are scrambling higher in today's trading session. (JCP) remained unsuccessful in beating the consensus-estimated -$0.05 as it actually earned -$0.09 per share in its last reported financial results. Holding had a positive return on equity of 10.55% and a negative net margin of 0.94%. Analysts anticipate that J.C. Penney will post $0.06 earnings per share for the current year.

J.C. Penney Company Inc (NYSE:JCP)'s trailing twelve month revenues are $12.49 Billion, whereas its price to sales ratio for the same period is 0.07. These analysts have also projected a Low Estimate of $-0.31/share and a High Estimate of $-0.1/share.

JCP has been the topic of a number of analyst reports.

J. C. Penney Company, Inc is a holding company. The Company ended the quarter with liquidity of approximately $2.0 billion. Holding in a report on Tuesday, July 4th. J.C. Penney has a one year low of $6.00 and a one year high of $11.99. Holding from a "buy" rating to a "neutral" rating in a research report on Monday, October 30th. Finally, Teachers Advisors Inc. raised its stake in J.C. Penney by 13.3% in the second quarter. The brokerage presently has a "hold" rating on the department store operator's stock. Several studies suggest that positive earnings surprises not only lead to an immediate hike in a stock's price, but also to a gradual increase over time.

Let's also take a brief look at the stock price in relation to some highs/lows and moving averages. Piedmont Investment Advisors LLC purchased a new position in J.C. Penney Company, Inc. The stock was purchased at an average cost of $3.62 per share, with a total value of $181,000.00. Following the completion of the purchase, the chairman now directly owns 2,852,280 shares of the company's stock, valued at approximately $9,925,934.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The stock was purchased at an average cost of $3.64 per share, with a total value of $491,891.40. The disclosure for this purchase can be found here. Revenue at stores open at least a year rose 1.7 percent.

COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of global trademark and copyright law. Pomelo Capital Llc, a New York-based fund reported 2.62 million shares. There's heightened competition from rival e-commerce site JD.com, which has partnerships with Tencent Holdings Ltd. and Baidu Inc.to drive traffic.

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