J.C. Penney Company, Inc. Holding Company (NYSE:JCP) released its quarterly earnings results on Friday. The department store operator reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.10, Bloomberg Earnings reports. J.C. Penney Company, Inc. Holding had a negative net margin of 0.94% and a positive return on equity of 10.55%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the company earned ($0.21) earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. J.C. Penney Company, Inc. Holding updated its FY18 guidance to $0.02-0.08 EPS.
Shares of J.C. Penney Company, Inc. Holding (NYSE:JCP) opened at $3.17 on Friday. J.C. Penney Company, Inc. Holding has a one year low of $2.35 and a one year high of $10.74. The company has a current ratio of 1.45, a quick ratio of 0.24 and a debt-to-equity ratio of 3.51. The firm has a market cap of $985.05, a PE ratio of 11.32 and a beta of 0.53.
A number of analysts have recently weighed in on JCP shares. Piper Jaffray Companies set a $4.00 price target on shares of J.C. Penney Company, Inc. Holding and gave the stock a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research downgraded shares of J.C. Penney Company, Inc. Holding from a “hold” rating to a “sell” rating in a report on Monday, October 30th. B. Riley set a $4.00 price objective on shares of J.C. Penney Company, Inc. Holding and gave the stock a “hold” rating in a report on Monday, October 30th. BMO Capital Markets decreased their price objective on shares of J.C. Penney Company, Inc. Holding from $4.00 to $2.75 and set a “market perform” rating for the company in a report on Monday, October 30th. Finally, Citigroup Inc. downgraded shares of J.C. Penney Company, Inc. Holding from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $4.00 to $3.00 in a report on Monday, October 30th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.06.
In other J.C. Penney Company, Inc. Holding news, Director Paul J. Brown purchased 25,000 shares of the company’s stock in a transaction on Monday, August 21st. The shares were purchased at an average cost of $3.62 per share, for a total transaction of $90,500.00. Following the completion of the transaction, the director now owns 68,123 shares in the company, valued at $246,605.26. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Javier G. Teruel purchased 135,135 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average price of $3.64 per share, for a total transaction of $491,891.40. Following the completion of the transaction, the director now owns 518,970 shares of the company’s stock, valued at approximately $1,889,050.80. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 310,135 shares of company stock worth $1,111,391. Company insiders own 1.02% of the company’s stock.
About J.C. Penney Company, Inc. Holding
J. C. Penney Company, Inc is a holding company. The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.
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