Why Investors Are Loving JC Penney Q3 Earnings

JC Penney stock higher from a better results than expected

JC Penney stock higher from a better results than expected

Earnings surprises can have a huge impact on a company's stock price. J. C. Penney Company, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that EVP, CFO Davis Jeffrey A. has acquired 50,000 shares of J. C. Penney Company, Inc. The firm has "Hold" rating given on Friday, October 27 by Piper Jaffray.

J. C. Penney Company, Inc.'s stock has performed at -66.91%.

Several analysts have released their opinion on J. C. Penney Company, Inc. The stock of J C Penney Company Inc (NYSE:JCP) earned "Sell" rating by Citigroup on Wednesday, October 7.

This particular stock's 5-day moving average is 2.47, its 20-day moving average is 3.14 and its 100-day moving average is 4.11. Geode Capital Management LLC lifted its position in shares of J.C. Penney Company, Inc. (NYSE:JCP) shares have seen a move of -69.80%. Holding has a 12-month low of $2.35 and a 12-month high of $10.74. The relative volume (ratio between current volume and 3-month average) is presently sitting at 1.00. Cetera Ltd Liability Company owns 13,163 shares for 0% of their portfolio. Holding (NYSE:JCP) last posted its earnings results on Thursday, November 9th.

PTC Inc., (NASDAQ: PTC) exhibits a change of -0.58% during last trading, with the company's shares hitting the price near $64.66 on active trading volume of 1010697 compared its three months average trading volume of 972.76K. J.C. Penney had a negative net margin of 2.56% and a negative return on equity of 4.66%. The business had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $2.84 billion.

Three months ago, on the other hand, the average analyst rating for J. C. Penney Company, Inc. For the current quarter Manitowoc Company (NYSE:MTW) has high EPS estimates of $0.02 in contradiction of low EPS estimates of $-0.08. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & global copyright and trademark laws. There's heightened competition from rival e-commerce site JD.com, which has partnerships with Tencent Holdings Ltd. and Baidu Inc.to drive traffic.

In related news, Director Javier G. Teruel purchased 135,135 shares of the firm's stock in a transaction dated Tuesday, August 22nd. The stock was purchased at an average cost of $3.62 per share, with a total value of $181,000.00. Following the acquisition, the director now owns 518,970 shares in the company, valued at approximately $1,889,050.80. J.C. Penney is moving away from quick-moving fashion trends, instead betting on selling services and more expensive items like appliances.

What Does Wall Street Say about Company? The disclosure for this purchase can be found here. Insiders own 1.02% of the company's stock.

Multiple company employees have indulged in significant insider trading.

Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers lifted its position in shares of J.C. Penney Company, Inc. It's worth noting that one quarter does not a turnaround make.

The shares shot up 18% to US$3.24 after the department stores operator said it had had a bit of a clear-out of slow-moving stock.

Intercontinental Exchange, Inc., a U.S. based Company, belongs to Financial sector and Diversified Investments industry. Holding by 3.1% in the second quarter. BidaskClub raised J.C. Penney Company, Inc. Holding by 33.6% in the first quarter. Teachers Advisors Inc. now owns 11,943,671 shares of the department store operator's stock worth $106,060,000 after buying an additional 1,401,147 shares in the last quarter. Finally, Quantitative Investment Management LLC bought a new stake in J.C. Penney Company, Inc. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 26,707,466 shares of the stock are valued at $67.04 million. However, the institutional investors are observed to own 73.50% of the total shares.

About J.C. Penney Company, Inc.

It's not clear why Penney underestimated its own sales by that much when there was only one day left in the quarter.

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