Losses widen at JC Penney despite same-store sales doubling market expectations

Penney store in Pembroke Pines Fla. J.C. Penney Co. Inc. reports earnings Friday Nov. 10 2017

Losses widen at JC Penney despite same-store sales doubling market expectations

For the next 5 years, J. C. Penney Company, Inc.is expecting Growth of -28% per annum, whereas in the past 5 years the growth was 9.37% per annum.

Credit Suisse Group AG initiated coverage on shares of J.C. Penney Co. Looking back over the last month, shares have performed -29.10%. Pinebridge Investments L.P. purchased a new stake in J.C. Penney Company, Inc. According to CFO Jeff Davis, the discrepancy was driven by strong sales during a promotional event held on the last weekend of the quarter. Geode Capital Management LLC now owns 2,324,781 shares of the department store operator's stock worth $14,320,000 after purchasing an additional 106,121 shares during the last quarter. The stock was acquired at an average cost of $3.62 per share, for a total transaction of $181,000.00. Most company stocks have very little volatility. The stock exchanged hands 24.56 Million shares versus average trading capacity of 18.92 Million shares, yielding a market cap of $919.46 Million.

Germany's 10-year bond yield edged up for the first time in more than a week and the euro and pound were both higher as the long-running saga of USA tax reforms weighed on the dollar. Wall Street analysts covering the stock are projecting that the stock will reach $5.71 within the next 52-weeks. The firm has a market capitalization of $975.73, a P/E ratio of 6.28 and a beta of 0.53.

Despite posting better third-quarter results than expected, J.C. Penney stuck to the revised full-year guidance it published in late October. J.C. Penney had a negative net margin of 2.56% and a negative return on equity of 4.66%.

While considering growth estimates of the company, it has next quarter growth estimates of -4.7% whereas during current quarter it has 19% estimations over growth, comparing to the estimations of 437.5% during current year and -11.6% for next year.

J. C. Penney Company, Inc. Holding Company will post 0.06 earnings per share for the current year.

A number of other research firms have also commented on JCP. IL increased its position in J.C. Penney Company, Inc. BidaskClub upgraded J.C. Penney Company, Inc.

J.C. Penney stock rocketed higher by as much as 20% following the earnings report on Friday. Holding in a research note on Thursday, September 14th. J.C. Penney has a variety of initiatives in place to offset these headwinds, but they haven't been sufficient recently. Finally, Deutsche Bank AG raised their target price on J.C. Penney Company, Inc.

In terms of Buy, Sell or Hold recommendations, J.C. Penney Company Inc (NYSE:JCP) has analysts' mean recommendation of 3.

Moving average indicators are used widely for stock analysis.

In other news, EVP John Joseph Tighe III sold 38,756 shares of the business's stock in a transaction that occurred on Friday, November 18th.

Excluding certain items, the company lost 33 cents per share, less than 40 to 45 cents lost it had previously estimated. Also, Director Paul J. Brown acquired 25,000 shares of J.C. Penney Company, Inc.

Latest News