Economy

127 institutional investors are raising stakes in JC Penney Company, Inc. (JCP)

127 institutional investors are raising stakes in JC Penney Company, Inc. (JCP)

Holding (NYSE:JCP) last posted its earnings results on Thursday, November 9th.

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JCP has been the topic of a number of analyst reports. Analysts reported that the Price Target for J. C. Penney Company, Inc. might touch $5 high while the Average Price Target and Low price Target is $3.34 and $1.5 respectively. Past 5 years growth of J.C. Penney Company Inc (NYSE:JCP) observed at 9.37%, looking forward for the next 5 years it has a strong prediction of -28% over growth. Morgan Stanley upgraded the shares of JCP in report on Monday, February 13 to "Equal-Weight" rating. A popular tool among technical stock analysts is the moving average. Finally, Guggenheim started coverage on shares of J.C. Penney in a report on Friday, September 30th. Whereas 14 of them predict the stock is a hold. The stock has an average rating of "Hold" and an average price target of $5.06.

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Many analysts are providing their Estimated Earnings analysis for J. C. Penney Company, Inc. and for the current quarter 21 analysts have projected that the stock could give an Average Earnings estimate of $-0.17/share. The stock was purchased at an average cost of $3.62 per share, with a total value of $181,000.00. Cowen and Company set a $6.00 price objective on J.C. Penney Company, Inc. Currently, the 200-day MA is sitting at 0.00, and the 50-day is 0.00. The company has market cap of $814.14 million. Penney needs a decent holiday quarter. The department store operator reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($0.18) by ($0.15). The Return on Equity (ROE) value stands at -9.6%. The company had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $2.84 billion. Holding will post 0.06 EPS for the current fiscal year.

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Last month, J.C. Penney slashed its full-year EPS outlook to 2-8 cents from 40-65 cents, with comp sales being down 1% to flat vs. a prior view of down 1% to up 1%. In a transaction dated August 21, 2017, the shares were bought at an average price of $3.62, giving away a sum of $90,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Most company stocks have very little volatility. The stock is gapping up 18.55% before market open touching $3.06 on a recent bid. Vertex One Asset Management Inc. raised its stake in J.C. Penney by 988.9% in the second quarter. Meanwhile the stock weekly performance was subdued at -4.04%, which was down for the month at -14.19%. Vanguard Group Inc. grew its position in shares of J.C. Penney Company, Inc. Piedmont Investment Advisors LLC purchased a new position in J.C. Penney Company, Inc. Same-store sales rose 1.7%. Institutional investors and hedge funds own 87.09% of the company's stock. They just need to take the company's market capitalization and divide it by the company's total sales over the past 12 months.


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