J C Penney (NYSE:JCP) had its price objective cut by Deutsche Bank from $3.00 to $2.00 in a report issued on Friday. The firm currently has a “hold” rating on the department store operator’s stock. Deutsche Bank’s price target would indicate a potential upside of 11.73% from the company’s current price.
JCP has been the subject of several other reports. Credit Suisse Group lowered their price target on shares of J C Penney from $2.00 to $1.00 and set an “underperform” rating for the company in a research note on Thursday. Zacks Investment Research downgraded shares of J C Penney from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Piper Jaffray Companies set a $3.00 price target on shares of J C Penney and gave the stock a “hold” rating in a research note on Tuesday, May 22nd. B. Riley lowered their price target on shares of J C Penney to $3.00 and set a “neutral” rating for the company in a research note on Friday, May 18th. Finally, JPMorgan Chase & Co. downgraded shares of J C Penney from a “neutral” rating to an “underweight” rating and set a $10.00 price target for the company. in a research note on Thursday. Five analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $3.10.
NYSE JCP opened at $1.79 on Friday. J C Penney has a 52-week low of $1.60 and a 52-week high of $4.75. The company has a quick ratio of 0.21, a current ratio of 1.73 and a debt-to-equity ratio of 3.31. The firm has a market cap of $760.58 million, a PE ratio of 8.14 and a beta of 0.87.
J C Penney (NYSE:JCP) last posted its quarterly earnings data on Thursday, August 16th. The department store operator reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). J C Penney had a negative return on equity of 1.62% and a negative net margin of 0.11%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the firm posted ($0.09) earnings per share. The business’s revenue was down 7.5% on a year-over-year basis. equities analysts expect that J C Penney will post 0.03 EPS for the current year.
Institutional investors have recently bought and sold shares of the business. Eqis Capital Management Inc. purchased a new position in shares of J C Penney in the second quarter valued at about $135,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of J C Penney in the second quarter valued at about $156,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of J C Penney in the second quarter valued at about $160,000. Commonwealth Equity Services LLC increased its position in shares of J C Penney by 132.3% in the second quarter. Commonwealth Equity Services LLC now owns 68,228 shares of the department store operator’s stock valued at $160,000 after acquiring an additional 38,858 shares during the period. Finally, Parametrica Management Ltd purchased a new position in shares of J C Penney in the first quarter valued at about $196,000. 74.33% of the stock is owned by institutional investors and hedge funds.
J C Penney Company Profile
J. C. Penney Company, Inc, through its subsidiary J. C. Penney Corporation, Inc, sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, home furnishings, and large appliances; and provides services, including styling salon, optical, portrait photography, custom decorating, and home services.
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