J. C. Penney (JCP) PT Lowered to $3.00

J. C. Penney (NYSE:JCP) had its price objective decreased by equities research analysts at Telsey Advisory Group from $4.00 to $3.00 in a research note issued on Friday. The firm currently has a “market perform” rating on the department store operator’s stock. Telsey Advisory Group’s price target suggests a potential upside of 11.52% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. ValuEngine cut shares of J. C. Penney from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. B. Riley set a $4.00 price target on shares of J. C. Penney and gave the company a “hold” rating in a research report on Monday, March 5th. Guggenheim restated a “hold” rating on shares of J. C. Penney in a research report on Friday, March 2nd. Finally, Credit Suisse Group assumed coverage on shares of J. C. Penney in a research report on Monday, March 12th. They issued an “underperform” rating and a $2.50 price target for the company. Four analysts have rated the stock with a sell rating and seventeen have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $4.14.

J. C. Penney opened at $2.69 on Friday, Marketbeat Ratings reports. The company has a market cap of $956.52 million, a P/E ratio of 12.23, a P/E/G ratio of 1.40 and a beta of 0.77. J. C. Penney has a 1 year low of $2.86 and a 1 year high of $3.05. The company has a quick ratio of 0.28, a current ratio of 1.46 and a debt-to-equity ratio of 2.89.

J. C. Penney (NYSE:JCP) last released its quarterly earnings data on Thursday, May 17th. The department store operator reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.01. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.62 billion. J. C. Penney had a negative net margin of 0.93% and a positive return on equity of 5.65%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 EPS. research analysts expect that J. C. Penney will post 0.14 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Syntal Capital Partners LLC acquired a new stake in shares of J. C. Penney during the fourth quarter worth $126,000. Parametrica Management Ltd acquired a new stake in shares of J. C. Penney during the first quarter worth $196,000. Two Sigma Advisers LP increased its position in shares of J. C. Penney by 45.2% during the fourth quarter. Two Sigma Advisers LP now owns 69,352 shares of the department store operator’s stock worth $219,000 after buying an additional 21,600 shares during the period. Metropolitan Life Insurance Co. NY acquired a new stake in shares of J. C. Penney during the fourth quarter worth $272,000. Finally, Nokomis Capital L.L.C. acquired a new stake in shares of J. C. Penney during the fourth quarter worth $284,000. Institutional investors own 77.53% 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.

Analyst Recommendations for J. C. Penney (NYSE:JCP)

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