Ellison acknowledged to analysts on a call Friday that J.C. Penney was behind in chasing the active and casual clothing trend, and is using analytics to understand shoppers' behavior. Meanwhile the stock weekly performance was subdued at -4.04%, which was down for the month at -14.19%. Holding by 12.8% in the first quarter. Wall Street analysts covering the stock are projecting that the stock will reach $5.71 within the next 52-weeks. Also, Director Paul J. Brown acquired 25,000 shares of J.C. Penney Company, Inc. Holding by 13.9% in the second quarter. Institutional investors and hedge funds own 87.09% of the company's stock. To avoid making a mountain out of a molehill, let's see whether today changed the technical posture of JCP stock's death spiral. The company has a current ratio of 1.45, a quick ratio of 0.24 and a debt-to-equity ratio of 3.51.
The Dow Jones Industrial Average fell 77.61 points, or 0.33 percent, to 23,485.75, the S&P 500 lost 11.03 points, or 0.43 percent, to 2,583.35 and the Nasdaq Composite dropped 52.50 points, or 0.77 percent, to 6,736.62. With the PPOH below zero, traders may be alerted that the stock is in sell territory. The company posted an earnings surprise of -80%. The department store operator reported ($0.33) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.15). Net loss was $128 million, or $0.41 per share, compared with a net loss of $67 million, or $0.22 per share in the same quarter the previous year.
J. C. Penney Company, Inc. Holding Company will post 0.06 earnings per share for the current year. Firm's net income measured an average growth rate of 14.90%.
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. The company was upgraded on Friday, December 2 by Bank of America. Finally, Jefferies Group LLC reiterated a hold rating and issued a $7.00 target price on shares of J.C. Penney Company, Inc. Thus, at least one part of J.C. Penney's forecast doesn't seem especially conservative. Holding in a report on Monday, August 14th. Rhumbline Advisers raised its position in 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. The stock presently has an average rating of Hold and an average target price of $5.06. Holding news, Chairman Marvin R. Ellison purchased 100,000 shares of the stock in a transaction on Friday, August 18th.
Trading volume is a gauge of how many times a stock is bought and sold in a given time period (most commonly, within a day of trading, known as the average daily trading volume - ADTV).
Last month, the company said that it expected a per-share loss of between 40 and 45 cents for the quarter. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The stock has a market capitalization of $975.73, a price-to-earnings ratio of 6.28 and a beta of 0.53.