J C Penney (NYSE:JCP) had its price target decreased by Credit Suisse Group from $2.00 to $1.00 in a research note issued to investors on Thursday, The Fly reports. Credit Suisse Group currently has an underperform rating on the department store operator’s stock.
JCP has been the subject of several other reports. Zacks Investment Research cut shares of J C Penney from a hold rating to a sell rating in a research note on Wednesday, July 18th. JPMorgan Chase & Co. cut shares of J C Penney from a neutral rating to an underweight rating and set a $10.00 target price for the company. in a research note on Thursday. Morgan Stanley set a $3.00 target price on shares of J C Penney and gave the company a hold rating in a research note on Monday, May 21st. B. Riley lowered their price objective on shares of J C Penney to $3.00 and set a neutral rating for the company in a research report on Friday, May 18th. Finally, Piper Jaffray Companies set a $3.00 price objective on shares of J C Penney and gave the company a hold rating in a research report on Tuesday, May 22nd. Five investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. J C Penney currently has a consensus rating of Hold and an average price target of $3.10.
JCP opened at $1.79 on Thursday. The firm has a market cap of $760.58 million, a P/E ratio of 8.14 and a beta of 0.87. J C Penney has a fifty-two week low of $1.60 and a fifty-two week high of $4.75. The company has a debt-to-equity ratio of 3.31, a current ratio of 1.73 and a quick ratio of 0.21.
J C Penney (NYSE:JCP) last posted its earnings results on Thursday, August 16th. The department store operator reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.32). The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.81 billion. J C Penney had a negative net margin of 0.11% and a negative return on equity of 1.62%. The business’s revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) earnings per share. research analysts predict that J C Penney will post 0.03 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in J C Penney by 2.4% during the first quarter. Rhumbline Advisers now owns 759,853 shares of the department store operator’s stock valued at $2,295,000 after purchasing an additional 17,872 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of J C Penney by 45.2% in the 4th quarter. Two Sigma Advisers LP now owns 69,352 shares of the department store operator’s stock worth $219,000 after acquiring an additional 21,600 shares during the last quarter. Dupont Capital Management Corp lifted its holdings in shares of J C Penney by 36.1% in the 2nd quarter. Dupont Capital Management Corp now owns 103,600 shares of the department store operator’s stock worth $242,000 after acquiring an additional 27,500 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of J C Penney by 31.7% in the 1st quarter. Aperio Group LLC now owns 118,544 shares of the department store operator’s stock worth $358,000 after acquiring an additional 28,554 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of J C Penney by 19.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 177,732 shares of the department store operator’s stock worth $416,000 after acquiring an additional 29,515 shares during the last quarter. Institutional investors and hedge funds own 74.33% of the company’s stock.
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.
Further Reading: Analyst Ratings
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