Morgan Stanley upgraded the shares of JCP in report on Monday, February 13 to "Equal-Weight" rating.
Marvin Ellison, chairman and CEO of J.C. Penney, said the company was encouraged by the stronger-than-expected growth in comparable store sales. Holding and gave the company a "hold" rating in a report on Friday, August 11th.
On a more encouraging note, free cash flow was roughly flat on a year-over-year basis, as J.C. Penney's inventory reduction efforts offset the negative impact of posting lower earnings. Citigroup Inc. downgraded J.C. Penney Company, Inc. Deutsche Bank AG reiterated a buy rating on shares of J.C. Penney in a report on Monday, October 31st. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock now has a consensus rating of Hold and a consensus target price of $11.44. (NYSE:JCP) are scrambling higher in today's trading session. 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. JCP now has a profit margin of -0.90%.
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J.C. Penney Company Inc (NYSE:JCP) 52-week high price stands at $10.74 and low price stands at $2.35, its price distance from 52-week high is -74.39% while its distance from 52-week low price is 17.02%. The company's beta value is at 0.48.
The early rally by J.C. Penney came after the department store operator reported a narrower than expected third quarter loss on better than expected revenues. Net sales fell 1.7 percent to $2.81 billion in the fiscal third quarter, beating analysts' estimates of $2.77 billion. Analysts anticipate that J.C. Penney will post $0.06 earnings per share for the current year. Holding (NYSE:JCP) last announced its earnings results on Friday, August 11th. The stock was purchased at an average cost of $3.64 per share, with a total value of $491,891.40. While the company will face a somewhat easier year-over-year comparison, that would still represent a significant break from the recent trend. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. For example, we can find out a public company's profit margin, which lets us know how much of a company's net sales revenue was retained as earnings - which we calculate by dividing net income by total sales revenue. Many traders will use a combination of moving averages with different time frames to help review stock trend direction. In the past 52 weeks the company's stock price has moved within the range of $2.35 to $10.74.
Ellison said on Friday that J.C. Penney will not need to liquidate inventory again in the fourth quarter. 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. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of United States and global copyright and trademark legislation. Geode Capital Management LLC boosted its holdings in J.C. Penney Company, Inc.