J C Penney Company Inc (NYSE:JCP) was the target of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 131,239,763 shares, a decrease of 6.0% from the July 31st total of 139,657,455 shares. Currently, 42.8% of the shares of the company are short sold. Based on an average daily trading volume, of 13,054,910 shares, the short-interest ratio is currently 10.1 days.
NYSE JCP opened at $1.74 on Friday. The stock has a market capitalization of $540.58 million, a P/E ratio of 7.91 and a beta of 0.87. J C Penney has a twelve month low of $1.60 and a twelve month high of $4.75. The company has a current ratio of 1.63, a quick ratio of 0.20 and a debt-to-equity ratio of 3.43.
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 Zacks’ consensus estimate of ($0.06) by ($0.32). The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.81 billion. J C Penney had a negative net margin of 0.43% and a negative return on equity of 8.98%. The business’s revenue was down 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.09) EPS. research analysts anticipate that J C Penney will post -0.83 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eqis Capital Management Inc. bought a new stake in J C Penney during the second quarter worth about $135,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in J C Penney during the second quarter worth about $156,000. Investors Asset Management of Georgia Inc. GA ADV bought a new stake in J C Penney during the second quarter worth about $160,000. Commonwealth Equity Services LLC grew its stake in J C Penney by 132.3% during the second quarter. Commonwealth Equity Services LLC now owns 68,228 shares of the department store operator’s stock worth $160,000 after buying an additional 38,858 shares during the last quarter. Finally, Parametrica Management Ltd bought a new stake in J C Penney during the first quarter worth about $196,000. 72.19% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on JCP shares. Zacks Investment Research raised shares of J C Penney from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. JPMorgan Chase & Co. lowered shares of J C Penney from a “neutral” rating to an “underweight” rating and set a $10.00 price objective for the company. in a research report on Thursday, August 16th. Susquehanna Bancshares reaffirmed a “neutral” rating on shares of J C Penney in a research report on Thursday, June 7th. B. Riley cut 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, 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. Six equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $3.10.
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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