J C Penney (JCP) Shares Gap Up to $3.16

J C Penney Company Inc (NYSE:JCP) gapped up before the market opened on Wednesday . The stock had previously closed at $3.07, but opened at $3.16. J C Penney shares last traded at $3.66, with a volume of 15190000 shares.

Several research firms recently weighed in on JCP. Susquehanna Bancshares cut shares of J C Penney from a “positive” rating to a “neutral” rating and set a $3.00 price objective for the company. in a research report on Tuesday, October 31st. Citigroup upped their price objective on shares of J C Penney from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Robert W. Baird set a $3.00 price objective on shares of J C Penney and gave the stock a “hold” rating in a research report on Sunday, October 29th. Zacks Investment Research cut shares of J C Penney from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, Piper Jaffray Companies set a $3.00 price objective on shares of J C Penney and gave the stock a “hold” rating in a research report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $4.64.

The company has a market capitalization of $1,150.00, a price-to-earnings ratio of -5.74, a P/E/G ratio of 2.68 and a beta of 0.58. The company has a debt-to-equity ratio of 3.95, a current ratio of 1.44 and a quick ratio of 0.16.

J C Penney (NYSE:JCP) last posted its earnings results on Friday, November 10th. The department store operator reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.10. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.77 billion. J C Penney had a negative net margin of 1.43% and a positive return on equity of 7.60%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) earnings per share. analysts anticipate that J C Penney Company Inc will post 0.07 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Blair William & Co. IL lifted its holdings in shares of J C Penney by 3.1% in the second quarter. Blair William & Co. IL now owns 33,625 shares of the department store operator’s stock worth $156,000 after acquiring an additional 1,000 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in shares of J C Penney in the second quarter valued at approximately $190,000. Quinn Opportunity Partners LLC increased its stake in shares of J C Penney by 13.9% in the second quarter. Quinn Opportunity Partners LLC now owns 40,900 shares of the department store operator’s stock valued at $190,000 after buying an additional 5,000 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of J C Penney in the second quarter valued at approximately $311,000. Finally, Lenox Wealth Management Inc. increased its stake in shares of J C Penney by 93.5% in the second quarter. Lenox Wealth Management Inc. now owns 71,386 shares of the department store operator’s stock valued at $332,000 after buying an additional 34,486 shares during the period. 72.73% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.chaffeybreeze.com/2018/01/03/j-c-penney-jcp-shares-gap-up-to-3-16.html.

J C Penney Company Profile

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.

Receive News & Ratings for J C Penney Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for J C Penney and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply