J.C. Penney's (JCP) Ullman Sees Margin Returning to 2011 Levels
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Maxim Group Upgrades J. C. Penney (JCP) to Buy, Sees 50% Upside
May 20, 2013 7:52 AM EDTMaxim Group upgraded J. C. Penney (NYSE: JCP) from Hold to Buy with a price target of $27.00 (from $16.50) citing the company's recent change in strategy that we believe will drive traffic back into stores.
Analyst Rick Snyder explains, "CEO Mike Ullman has recently... More
J.C. Penney (JCP) Stock Already Priced For Recovery - Wells Fargo
May 17, 2013 8:52 AM EDTBased on information provided by J.C. Penney (NYSE: JCP) yesterday, analyst Paul Lejuez of Wells Fargo thinks the company will need additional liquidity in 2014. Additional, he thinks the stock is already priced for recovery.
"We are reducing our FY2013E... More
J.C. Penney Co., Inc. (JCP) Posts Q1 Loss of $1.31/Share; Comps Down 16.6%
May 16, 2013 4:33 PM EDT(Updated - May 16, 2013 4:42 PM EDT)
J.C. Penney Co., Inc. (NYSE: JCP) reported Q1 EPS of ($1.31), $0.45 worse than the analyst estimate of ($0.86). Revenue for the quarter came in at $2.64 billion versus the consensus estimate of $2.72 billion.
Comparable store sales decreased 16.6 percent for the quarter and were negatively impacted by the ongoing transformation of the home department.
In the first quarter, the Company introduced the Joe Fresh brand with the opening of 681 locations within our stores. During the second quarter, the Company will open a newly designed and merchandised home... More
JCPenney (JCP) Meeting Peer Performace Could Provide for Prodigious Profits
May 16, 2013 10:15 AM EDTJCPenney (NYSE: JCP) might be down, but is it out?
According to the WSJ, no.
The WSJ notes that Q1 consensus EPS expectations have dropped about 40 cents since before April's management shuffle to a loss of 86... More
Even With 'Fairy Tale' Year, JCPenney (JCP) is Too Expensive - Analyst
May 16, 2013 8:01 AM EDTWells Fargo is out with a few comments on JCPenney (NYSE: JCP) into the retailer's Q1 results.
Though JCPenney sports a current market cap of about $4.2 billion, which is 38 percent lower than its average market cap in 2010, Wells says to not be fooled. Focusing on market cap alone misses the fact that there has been a wealth transfer from equityholders to debtholders. The firm commented, "If we use its pro forma net debt of $3.2B (which JCP cited in its 5/13 8K to reflect... More
