Published: Sat, March 03, 2018
Money | By Wilma Wheeler

JC Penney shares dive as profit forecast, same-store sales disappoint

JC Penney shares dive as profit forecast, same-store sales disappoint

Saba Capital Management Lp, which manages about $7.93B and $986.86 million US Long portfolio, upped its stake in Western Asset Hgh Yld Dfndfd (HYI) by 83,009 shares to 126,363 shares, valued at $1.97M in 2017Q3, according to the filing.

More notable recent J. C. Penney Company, Inc. (NYSE:JCP) has declined 40.00% since March 1, 2017 and is downtrending. Friedberg Invest reported 1.65% of its portfolio in Align Technology, Inc. (NYSE:ENV) has "Outperform" rating given on Tuesday, November 10 by Northland Capital.

The stock increased 1.12% or $0.16 during the last trading session, reaching $14.45. About 5.24 million shares traded. It has underperformed by 24.06% the S&P500.

Shares fell 8% in premarket trading, on top of their 10% decline on Thursday.

"As the company continues to make progress on its strategic framework and implement new processes and organizational efficiencies, it is imperative that we maintain a thoughtful approach to managing expenses, while effectively supporting the needs of the business", said Ellison. Alliancebernstein Lp invested in 0% or 380,500 shares. Sit Investment Associates Inc, a Minnesota-based fund reported 1.24 million shares.

Shares of J.C. Penney Company Inc (JCP) have seen the needle move 1.19% or 0.05 in the most recent session. Therefore 10% are positive.

J.C. Penney is making some inroads in its e-commerce business. BMO Capital Markets has "Hold" rating and $3.25 target. J C Penney has a consensus rating of "Hold" and an average target price of $4.47. RBC Capital Markets maintained the stock with "Hold" rating in Wednesday, July 12 report. Holding Company (NASDAQ:JCP) to report earnings on Mar, 02 for the fiscal quarter ending Jan 2018. (NYSE:JCP) now has a "Buy" signals on Composite indicators by TrendSpotter. The company was maintained on Thursday, November 9 by Stifel Nicolaus. The firm has "Buy" rating given on Monday, September 28 by Sterne Agee CRT. If the ratio is greater than 1, then that means there has been an increase in price over the month. Its up 0.40, from 0.79 in 2017Q2.

Citigroup "Maintained" J.C. Penney Company Inc (NYSE:JCP) in a research note issued to investors on 10/31/17 to Sell with price target of $3. 37 funds opened positions while 51 raised stakes. 222.21 million shares or 0.72% more from 220.63 million shares in 2017Q2 were reported. (NYSE:JCP) for 140,167 shares. While, the analyst predicted that the company could provide an EPS of $-0.43/share. State Of Alaska Department Of Revenue reported 61,500 shares. Pinnacle Advisory Group Inc invested in 15,200 shares. Clearbridge Investments Ltd Liability Corp invested in 915,417 shares or 0.04% of the stock. (NYSE:JCP). Lpl accumulated 75,849 shares. 29,773 were reported by Proshare Lc. Nokomis Capital L.L.C. bought a new stake in J C Penney in the 4th quarter worth $284,000. (NYSE:JCP) or 41,702 shares. (NYSE:JCP). Verition Fund Management owns 55,175 shares.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. The Price to Cash Flow for J. C. Penney Company, Inc. (NYSE:JCP) for 400 shares. (NASDAQ:ALGN). Amp Investors holds 0.05% or 48,920 shares. Us Commercial Bank De holds 0% or 60,579 shares in its portfolio. Comerica Bancorp has invested 0.01% in J. C. Penney Company, Inc.

Turning to Tronox Limited (NYSE:TROX), its shares were trading at $20.36 a gain of $2.08, on the trading floor. For the past 5 years, the company's revenue has grown -6.2%, while the company's earnings per share has grown 14.9%. 0 analysts call it Underweight, while 2 think it is Overweight.

J.C. Penney forecast full-year earnings of between 5 and 25 cents per share, largely below analysts' average expectation of 20 cents, according to Thomson Reuters I/B/E/S. While talking about Performance of the Stock, J. C. Penney Company, Inc. now has a Weekly performance of 7.22%, monthly performance percentage is 9.19 percent, Quarterly performance is 28.4 percent, 6 months performance shows a percent value of 10.34% and Yearly Performance is -35.6 percent.

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