Dallas, Texas 08/20/2013 (Financialstrend) – As J.C. Penney Company, Inc. (NYSE:JCP) is expected to post its results for the second quarter of fiscal year 2013 on Tuesday before the bell in the exchange, it is forecasted that the quarter would turn out to be another disappointing one with lower than expected sales figures. The stock had quite garnered higher level of attention from the investors in the recent days which all started after the activist investor William Ackman had started a public criticism against the company’s decisions.
Ackman had continued to demand that the new Chief Executive Officer to the company should be appointed very soon to replace the present interim CEO Myron E. Ullman who had taken over from Ron Johnson in April 2013. He claimed that the company had been frustrating its shareholders by taking such longer time to replace the interim CEO. Analysts had commented that the financial results for the second quarter would turn out the ninth quarter of consecutive drop in sales figures for the company. All such negative sentiments surrounding the company had sent the stock to move to lower level of prices in the recent days.
The shares of J.C. Penney Company, Inc. (NYSE:JCP) had on Monday traded to report a closing price of $13.22 per share on Monday, which was found to be a dip of 1.34% over the previous close. The stock had moved through the day to report price movements in the range of $12.96 to $13.60 per share for the day, while the stock’s present 52 week low price level is at $12.34 and 52 week high level is at $32.55 per share for the company. There are around 219.90 million shares of the company presently being traded with the market cap on Monday at $2.91 billion and institutional ownership at 101%.