JC Penney Share Jump on Strong Sales

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Finally, Quinn Opportunity Partners LLC increased its position in J.C. Penney Company, Inc.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company.

When it comes to the Analysis of a Stock, Price Target plays a vital role.

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. 8,186,387 shares of the stock traded hands. Cowen and Company set a $6.00 price objective on J.C. Penney Company, Inc. The share price has yet to cross its 20 days moving average, floating at a distance of -21.23% and sits -30.68% lower versus its 50 days moving average. The stock was acquired at an average cost of $3.62 per share, for a total transaction of $181,000.00. Holding (NYSE JCP) opened at $3.18 on Monday.

J.C. Penney's net loss widened to $128 million, or 41 cents per share, in the quarter ended October 28, from $67 million, or 22 cents per share, a year earlier, partly because of the heavy discounting.

The news staunched, at least for a moment, an extended sell-off in company shares, which accelerated last month when J.C. Penney warned that it would be forced to liquidate poor-selling merchandise.

The retailer's shares surged by more than 16 percent following its quarterly report. That compares with a loss of $67 million, or 22 cents per share in the year-ago quarter.

USA stock futures traded lower in early pre-market trade, ahead of earnings from J C Penney Company Inc (NYSE: JCP).

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. Rhumbline Advisers now owns 629,809 shares of the department store operator's stock worth $2,929,000 after acquiring an additional 60,340 shares during the period. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 310,135 shares of company stock valued at $1,111,391 over the last quarter.

Large investors have recently added to or reduced their stakes in the stock. Penney needs a decent holiday quarter.

A good method of evaluating a public company's profitability is by taking a look at its Earnings per Share (EPS) performance.

While looking at the Stock's Performance, J. C. Penney Company, Inc. now shows a Weekly Performance of 7.84%, where Monthly Performance is -20.98%, Quarterly performance is -30.03%, 6 Months performance is -39.56% and yearly performance percentage is -67.11%. On an adjusted basis, net losses were $102 million, or 33 cents per share - which was worse than analysts' predictions for a net loss of 17 cents per share.

That said, J.C. Penney does expect gross margin to be flat or up slightly in the fourth quarter.

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