JC Penney Company Inc (JCP) How Do the Technical Vary?

Gladys Abbott
November 11, 2017

The consensus mean EPS for the current quarter is at $-0.17 derived from a total of 21 estimates from the analysts who have weighed in on projected earnings. For the quarter, shares are performing at -30.03%. Shares which have tumbled 67 percent this year, hit an all-time low.

The department store, which has struggled to meet its targets due to industrywide challenges as well company-specific shortcomings, said today that its growth strategies and new apparel initiatives yielded a sequential comp sales improvement in almost all merchandise categories.

Lumber Liquidators Holdings Inc (NYSE:LL) has average revenue estimates of $261.66 Million, compared to low analyst estimates of $257.8 Million and high estimates of $265.7 Million for the current quarter.

US stock futures traded lower in early pre-market trade, ahead of earnings from J C Penney Company Inc (NYSE: JCP).

Yet more challenges lie ahead with the critical holiday shopping season approaching. Last year, Alibaba reported $17.8 billion in sales. Appliance sales doubled in the third quarter, according to Ellison. Even Nordstrom, which announced results after the bell on Thursday, saw a key sales measure fall and trimmed its outlook. Department stores, which are heavily dependent on clothing sales, are seeing more competition there as Amazon expands further into fashion and off-price chains like T.J. Maxx add more stores. Out of 6 Wall Street analysts rating J. C. Penney, 3 give it "Buy", 1 "Sell" rating, while 2 recommend "Hold". JD.com has also brought its membership program together with Wal-Mart Stores Inc. for order fulfillment. It's opening at 2 p.m. on Thanksgiving Day, an hour earlier than past year and offering its Black Friday specials to online shoppers the Sunday before. Zacks Investment Research cut shares of J.C. Penney Company, Inc. It's now expanding those merchandising areas in the store and is highlighting them in visible areas.

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"The goal is simple", Mr. Ellison said. "We're competing against e-commerce companies that don't have chief merchants, don't even have category merchants".

The early rally by J.C. Penney came after the department store operator reported a narrower than expected third quarter loss on better than expected revenues.

Wall Street analysts, on average, are forecasting the company's EPS to be -0.40, compared to -0.21 reported in the same quarter past year. While the company will face a somewhat easier year-over-year comparison, that would still represent a significant break from the recent trend. The company had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $2.84 billion.

On the other hand Lumber Liquidators Holdings Inc (NYSE:LL) has Relative Strength Index (RSI 14) of 22.33 along with Average True Range (ATR 14) of 1.56. (NYSE: ANF) has grabbed attention from the analysts when it experienced a change of 3.92% in the last trading session to close at $12.18.

Penney's net loss almost doubled to $128 million from $67 million a year earlier, due to the inventory clearance as well as, among other things, store closing costs.

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