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JCP

J.C. Penney

$3.82

0.05 (1.33%)

13:30
08/25/17
08/25
13:30
08/25/17
13:30

J.C. Penney CFO sees solutions in technology investment, WSJ reports

J.C. Penney's new CFO Jeffrey Davis said reallocating a larger share of the company's roughly $400M in capital expenditures to technology efforts could help cut costs and increase sales, the Wall Street Journal reports, citing an interview with Davis. "Our vision is to evolve this organization, either through human resources mining the data or other tools, to be much more nimble than in the past," Davis said. "I would not look to change our financial policies or capital structure...You're not going to see us issuing a dividend anytime soon." Reference Link

JCP J.C. Penney
$3.82

0.05 (1.33%)

08/14/17
NRCS
08/14/17
NO CHANGE
Target $9
NRCS
Buy
J.C. Penney gross margin pressures abate in second half, says Northcoast
Northcoast analyst Kara Szafraniec said J.C. Penney shares reacted severely to the Q2 gross margin disappointment, driven largely by the closing of 127 stores. The analyst believes the liquidation of the stores was the right move and management's commentary on the go-forward business was largely encouraging. J.C. Penny's growth categories continue to outpace the chain average and the company remains positioned to defend itself in the current weak apparel environment, Szafraniec wrote. He believes the gross margin pressures will abate in the second half and reiterates his Buy rating and $9 price target.
08/11/17
EVER
08/11/17
NO CHANGE
EVER
J.C. Penney turnaround efforts 'just not working,' says Evercore ISI
Evercore ISI analyst Omar Saad said he is liquidating the 1.3% J.C. Penney Long Position initiated in the firm's Model Portfolio in April with the stock down 30% during that time. While acknowledging he "may be pulling the plug at the bottom," he said the company is doing everything in its power to keep its turnaround on track but efforts just are not working. Asset sales are not a sustainable long-term solution and cost-cutting initiatives are beginning to take a toll on operations, as evidenced by the jump in shrinkage that may be linked to understaffing, said Saad.
08/11/17
TLSY
08/11/17
DOWNGRADE
TLSY
Market Perform
J.C. Penney downgraded to Market Perform from Outperform at Telsey Advisory
08/11/17
FBCO
08/11/17
NO CHANGE
FBCO
Underperform
J.C. Penney core operating profitability declining, says Credit Suisse
Credit Suisse analyst Christian Buss, in a research bulletin issued on the heels of J.C. Penney's Q2 report, said "continued caution is in order" as he sees it core operating profitability declining and underlying demand still being "tepid." He has an Underperform rating on J.C. Penney shares, which are down 23% in pre-market trading.

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ICUI

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EQT

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NFLX

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CMC

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SECO

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AGN

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LM

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FCX

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CLSD

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