Why Investors Are Loving JC Penney Q3 Earnings

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JC Penney stock higher from a better results than expected

A number of other research firms have also commented on JCP. "We're committed to making the right strategic decisions to ensure we are providing our customers more reasons to shop and experience J.C. Penney". The company was upgraded on Friday, December 2 by Bank of America. Shares of J.C. Penney surged after the chain store posted quarterly revenue and same-store sales growth that topped Wall Street estimates, a pleasant surprise that came after a late-October warning that its quarterly growth would be hurt by promotional activity created to shift stubborn inventory.

J.C. Penney Company Inc (NYSE:JCP) shares traded 9.56% up during most recent session to reach at the closing price of $2.75. This represents a change from the opening price of -3.68%. Holding and gave the stock a "hold" rating in a research report on Friday, October 27th. Analysts have also given a consensus recommendation on the stock of 3.00. The stock has a consensus rating of "Hold" and an average target price of $5.06.

Credit Suisse Group AG initiated coverage on shares of J.C. Penney Co. J.C. Penney has a one year low of $6.00 and a one year high of $11.99. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.45 and a quick ratio of 0.24. Tracking the stock price in relation to moving averages as well as highs and lows for the year might assist with evaluating future stock performance. The Return on Equity (ROE) value stands at -9.6%. During the same period in the previous year, the company posted ($0.21) earnings per share.

J.C. Penney's third quarter comparable store sales came in above its own forecast as the department store retailer cited home products as among the top performers in the three month period ended October 28.

COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this report on another site, it was illegally stolen and republished in violation of U.S. & worldwide copyright & trademark law. There's heightened competition from rival e-commerce site JD.com, which has partnerships with Tencent Holdings Ltd. and Baidu Inc.to drive traffic. When stocks are *very* In Play one can see a RVOL of 5 and above. The stock was acquired at an average cost of $3.62 per share, for a total transaction of $181,000.00. Following the completion of the purchase, the director now owns 68,123 shares of the company's stock, valued at $246,605.26. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. (JCP) stock was most active stock of Wall Street Market on Thursday. Following the completion of the acquisition, the director now directly owns 68,123 shares of the company's stock, valued at $246,605.26. The disclosure for this purchase can be found here.

The news stanched, at least for a moment, an extended selloff in company shares, which accelerated last month when the Plano, Texas-based chain warned that it would be forced to liquidate poor-selling merchandise.

In other J.C. Penney Company, Inc. In it, J.C. Penney acknowledged that getting rid of old inventory and transitioning to a new women's apparel assortment was tougher than expected. They are projecting Next Quarter growth of -4.7%. Ameriprise Financial Inc. grew its position in shares of J.C. Penney Company, Inc. Holding by 10.6% in the second quarter. Bank of New York Mellon Corp now owns 3,689,064 shares of the department store operator's stock valued at $17,154,000 after purchasing an additional 329,909 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in J.C. Penney Company, Inc. Holding by 11,522.1% in the first quarter. Clearly, investors are no longer confident in the company's trajectory and don't trust management. Holding in the second quarter worth $190,000.

Several institutional investors and hedge funds have recently modified their holdings of JCP.

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