J C Penney Company Inc (NYSE:JCP)’s share price was down 7.6% during mid-day trading on Friday . The stock traded as low as $1.33 and last traded at $1.34. Approximately 15,186,426 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 16,189,991 shares. The stock had previously closed at $1.45.
Several equities analysts have recently issued reports on JCP shares. Zacks Investment Research lowered J C Penney from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. JPMorgan Chase & Co. lowered J C Penney from a “neutral” rating to an “underweight” rating and set a $10.00 price target for the company. in a research report on Thursday, August 16th. Bank of America lowered J C Penney from a “buy” rating to an “underperform” rating in a research report on Thursday, August 16th. Credit Suisse Group lowered their price target on J C Penney from $2.00 to $1.00 and set an “underperform” rating for the company in a research report on Thursday, August 16th. Finally, Telsey Advisory Group lowered their price target on J C Penney from $3.00 to $2.00 and set a “market perform” rating for the company in a research report on Friday, August 17th. Six analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $3.20.
The company has a debt-to-equity ratio of 3.43, a current ratio of 1.63 and a quick ratio of 0.20. The stock has a market capitalization of $487.15 million, a price-to-earnings ratio of 6.09 and a beta of 0.97.
J C Penney (NYSE:JCP) last issued 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). J C Penney had a negative return on equity of 8.98% and a negative net margin of 0.43%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the firm posted ($0.09) EPS. J C Penney’s quarterly revenue was down 7.5% compared to the same quarter last year. Analysts anticipate that J C Penney Company Inc will post -0.84 earnings per share for the current year.
Large investors have recently modified their holdings of the business. Eqis Capital Management Inc. purchased a new position in J C Penney in the 2nd quarter worth about $135,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in J C Penney in the 2nd quarter worth about $156,000. Commonwealth Equity Services LLC raised its position in J C Penney by 132.3% in the 2nd 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. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in J C Penney in the 2nd quarter worth about $160,000. Finally, CSat Investment Advisory L.P. purchased a new position in J C Penney in the 2nd quarter worth about $222,000. 70.74% of the stock is owned by institutional investors and hedge funds.
About J C Penney (NYSE:JCP)
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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