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. Holding from a "sell" rating to a "hold" rating in a report on Tuesday, October 17th.
"You're going to see in our new holiday campaign a huge emphasis on value and price", J.C. Penney CEO Marvin Ellison said on a call to discuss earnings, noting that where the retailer did not have a centralized pricing strategy just over a year ago, it would now be aggressive on pricing online and in stores.
It's not clear why Penney underestimated its own sales by that much when there was only one day left in the quarter. Holding by 4.8% during the first quarter. Finally, BMO Capital Markets set a $4.00 price target on shares of J.C. Penney Company, Inc. Holding in a research note on Thursday, September 14th. The stock presently has an average rating of "Hold" and an average target price of $11.44. Holding (NYSE:JCP) traded up $0.42 during trading on Friday, hitting $3.17. The stock has 5 year expected PEG ratio of 0 whereas its trailing twelve month P/E ratio is 0. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.24 and a current ratio of 1.45. Holding has a 12-month low of $2.35 and a 12-month high of $10.74. Holding (NYSE:JCP) last released its earnings results on Friday, November 10th.
J.C. Penney's net loss widened to $128 million, or 41 cents per share, in the quarter ended October 28, from $67 million, or 22 cents per share, a year earlier, partly because of the heavy discounting. The Return on Equity (ROE) value stands at -9.6%.
JCP stock also got a boost today from revenue of $2.81 billion in the third quarter of 2017. During the same period in the previous year, the firm posted ($0.21) EPS. The business's revenue was down 1.8% on a year-over-year basis. sell-side analysts anticipate that J.C. Penney Company, Inc. However the company reported $-0.21 earnings per share for the same quarter during past year. UBS AG downgraded shares of J.C. Penney Company, Inc. The original version of this article can be viewed at https://stocknewstimes.com/2017/11/11/j-c-penney-company-inc-holding-company-jcp-given-a-4-00-price-target-at-cowen-and-company.html. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States & worldwide trademark and copyright legislation. 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.
In related news, CFO Jeffrey A. Davis purchased 50,000 shares of the firm's stock in a transaction on Tuesday, August 22nd. Following the completion of the acquisition, the director now directly owns 518,970 shares in the company, valued at $1,889,050.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
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