J C Penney (JCP) Stock Price Down 2.6%

Shares of J C Penney Company Inc (NYSE:JCP) dropped 2.6% during mid-day trading on Wednesday . The company traded as low as $1.51 and last traded at $1.52. Approximately 99,060 shares changed hands during trading, a decline of 99% from the average daily volume of 16,435,539 shares. The stock had previously closed at $1.56.

JCP has been the topic of a number of analyst reports. Citigroup decreased their price objective on J C Penney to $2.00 and set a “sell” rating on the stock in a research note on Friday, August 17th. Zacks Investment Research upgraded J C Penney from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd. Telsey Advisory Group decreased their target price on J C Penney from $3.00 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, August 17th. Piper Jaffray Companies set a $2.00 target price on J C Penney and gave the stock a “hold” rating in a research note on Wednesday, October 3rd. Finally, Bank of America lowered J C Penney from a “buy” rating to an “underperform” rating in a research note on Thursday, August 16th. Six analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $3.13.

The company has a market capitalization of $521.72 million, a price-to-earnings ratio of 7.06 and a beta of 0.79. The company has a quick ratio of 0.20, a current ratio of 1.63 and a debt-to-equity ratio of 3.43.

J C Penney (NYSE:JCP) last posted its quarterly earnings data on Thursday, August 16th. The department store operator reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the previous year, the company posted ($0.09) earnings per share. J C Penney’s revenue for the quarter was down 7.5% compared to the same quarter last year. Equities analysts forecast that J C Penney Company Inc will post -0.83 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Natixis boosted its holdings in J C Penney by 13.7% during the 2nd quarter. Natixis now owns 1,183,549 shares of the department store operator’s stock valued at $2,770,000 after acquiring an additional 142,795 shares during the period. Eqis Capital Management Inc. purchased a new stake in J C Penney in the 2nd quarter worth approximately $135,000. CSat Investment Advisory L.P. purchased a new stake in J C Penney in the 2nd quarter worth approximately $222,000. Legal & General Group Plc lifted its holdings in J C Penney by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 1,030,272 shares of the department store operator’s stock worth $2,423,000 after buying an additional 47,745 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in J C Penney by 51.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,157,675 shares of the department store operator’s stock worth $2,709,000 after buying an additional 395,452 shares during the period. Hedge funds and other institutional investors own 72.18% of the company’s stock.

J C Penney Company Profile (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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