JC Penney stock higher from a better results than expected

JC Penney stock higher from a better results than expected

JC Penney stock higher from a better results than expected

Holding (NYSE:JCP) last issued its earnings results on Friday, November 10th. Tudor Investment Corp ET AL now owns 22,900 shares of the department store operator's stock valued at $141,000 after purchasing an additional 2,600 shares in the last quarter. Bank of New York Mellon Corp's holdings in J.C. Penney were worth $31,781,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 71.99% of the company's stock. Penney needs a decent holiday quarter.

During the third quarter of the year, J C Penney Company Inc reported losses per share of 33 cents. Investors Asset Management of Georgia Inc.

The entrance of a J.C. Penney store is pictured in Arcadia, California March 1, 2013. Following the transaction, the director now directly owns 518,970 shares in the company, valued at $1,889,050.80. Over the last ninety days, insiders acquired 310,135 shares of company stock valued at $1,111,391. Finally, LS Investment Advisors LLC raised its position in shares of J.C. Penney by 68.0% in the second quarter. Rhumbline Advisers increased its position in shares of J.C. Penney Company, Inc. (NYSE:JCP) hasconsensus analyst target price is $3.72. The company had a trading volume of 4,191,987 shares.

J.C. Penney Co. Inc. shares surged more than 19 percent on Friday after the retailer reported much better-than-expected same-store sales and said it will compete fiercely on price while keeping inventory lean during the crucial holiday quarter. The business's revenue was down 1.8% on a year-over-year basis. sell-side analysts anticipate that J.C. Penney Company, Inc. The Return on Equity (ROE) value stands at -9.6%. For the current year the company's revenue estimates are $12.36 Billion compared to low analyst estimates of $11.94 Billion and high estimates of $12.64 Billion according to 20 number of analysts. However the company reported $-0.21 earnings per share for the same quarter during a year ago. Wall Street is expecting the retail company to report earnings per share of 6 cents during the year. Zacks Investment Research lowered J.C. Penney from a "hold" rating to a "sell" rating in a research report on Monday, October 24th. Meanwhile, the average 12-month price target from Wall Street analysts is now $3.72, this means that the stock is underpriced by 32.527%. Holding and gave the company a "market perform" rating in a research report on Saturday, August 12th. Finally, Piper Jaffray Companies set a $3.00 price objective on shares of J.C. Penney Company, Inc. Holding Company (NASDAQ:JCP), 1 rate it "Buy", 1 "Outperform", 18 "Underperform", 0 "Sell", while 1 "Hold". Holding has a consensus rating of "Hold" and an average target price of $5.06.

In related news, CFO Jeffrey A. Davis purchased 50,000 shares of the firm's stock in a transaction on Tuesday, August 22nd. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Jefferies Group LLC reissued a hold rating and issued a $4.00 target price on shares of J.C. Penney Company, Inc. (JCP) has an operating margin of 1.70%.

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