Published: Sat, November 11, 2017
Markets | By Rosalie Gross

JC Penney Stock Surges as Turnaround Plan Shows Results

JC Penney Stock Surges as Turnaround Plan Shows Results

J.C. Penney's third quarter comparable store sales came in above its own forecast as the department store retailer cited home products as among the top performers in the three month period ended October 28. Finally, BidaskClub cut J.C. Penney Company, Inc.

J.C. Penney president and CEO Marvin Ellison at the J.C. Penney. Holding and gave the stock a "hold" rating in a research report on Friday, October 27th.

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). (NYSE:JCP) shares have seen a move of -69.80%. The relative volume (ratio between current volume and 3-month average) is presently sitting at 1.00. Also, Director Paul J. Brown purchased 25,000 shares of the firm's stock in a transaction that occurred on Monday, August 21st. Holding's Q3 2018 earnings at ($0.46) EPS, Q4 2018 earnings at $0.54 EPS, FY2018 earnings at $0.05 EPS and FY2019 earnings at $0.30 EPS. The company reported the earnings of $-0.09/Share in the last quarter where the estimated EPS by analysts was $-0.05/share. The Return on Equity (ROE) value stands at -9.6%. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.77 billion. The stock's price to sales ratio for trailing twelve months is 0.26 and price to book ratio for the most recent quarter is 0.72, whereas price to cash per share for the most recent quarter are 2.01.

The company's total sales of $2.81 billion fell 1.8% from $2.86 billion a year ago but exceeded analysts' expectations of $2.77 billion. They expect $-0.18 EPS, up 14.29% or $0.03 from last year's $-0.21 per share.

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TRADEMARK VIOLATION NOTICE: This piece was posted by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this piece of content on another website, it was stolen and republished in violation of global copyright and trademark laws. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2017/11/10/j-c-penney-company-inc-holding-company-jcp-pt-set-at-4-00-by-b-riley.html. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. This represents a change from the opening price of -3.68%. After a recent check, company stock has been trading near the $2.77 mark.

The average true range (ATR) was fashioned to allow traders to more precisely evaluate the daily volatility of an asset by using straightforward calculations.

In other J.C. Penney Company, Inc.

INC Research Holdings, Inc. For the quarter, shares are performing at -30.03%. The shares were sold at an average price of $9.33, for a total transaction of $361,593.48. Cambridge Investment Research Advisors Inc. raised its position in J.C. Penney Company, Inc. Holding by 11,522.1% in the first quarter. Clearly, investors are no longer confident in the company's trajectory and don't trust management. Holding in the second quarter worth about $5,140,000. Hedge funds and other institutional investors own 71.99% of the company's stock.

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