Dallas, Texas 08/26/2013 (Financialstrend) – In the previous week, J.C. Penney Company, Inc. (NYSE:JCP) had reported losses at $1.17 per share on revenues generated at $2.66 billion for the recent quarter, while the analyst expectations were at losses of $1.06 per share on revenues at $2.76 billion. Despite such lower than expected results reported for the quarter, investors had stayed optimistic on this stock primarily owing to the stronger sales reported at the stores of the retail chain operator. There is one further reason to prove the confidence of investors on this stock – the recent full swing of back to school season.
It is expected that J.C. Penney Company, Inc. (NYSE:JCP) would be able to recover effectively from its losses through stronger sales in the near future owing to the flocking of parents and students to the stores to make purchases for the full academic year. All such factors prove to add on to the optimism of the stock, especially for the next quarter which is expected to post stronger results.
J.C. Penney Company, Inc. (NYSE:JCP) had been presenting increase in prices by 2.27% on Friday to close the week at $13.50 per share. The stock had been observed to present intraday price movements in the range of $13.15 to $13.53 per share on Friday and had further attracted around 14.17 million trades on the last day of the week. However, the average level of trading volume for the stock had been reported to be at 20.02 million shares per day. It is recorded that the stock’s 52 week lowest price is at $12.34 and 52 week highest price is at $32.55 per share. The company’s total outstanding shares in the market are at 220.40 million to record market cap at $2.98 billion and institutional holdings are at 101%.