J.C. Penney Co. (NYSE:JCP) Receives $11.58 Average Target Price from Analysts
Shares of J.C. Penney Co. (NYSE:JCP) have been given a consensus rating of “Hold” by the twenty-seven brokerages that are presently covering the stock. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $11.58.
JCP has been the subject of a number of recent research reports. Vetr raised shares of J.C. Penney from a “buy” rating to a “strong-buy” rating and set a $10.35 price objective for the company in a research report on Monday, October 3rd. Guggenheim initiated coverage on shares of J.C. Penney in a research report on Friday, September 30th. They set a “neutral” rating for the company. Argus reaffirmed a “hold” rating on shares of J.C. Penney in a research report on Wednesday, July 6th. Zacks Investment Research raised shares of J.C. Penney from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Tuesday, August 16th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $10.00 price objective on shares of J.C. Penney in a research report on Monday, August 15th.
Shares of J.C. Penney (NYSE:JCP) opened at 9.44 on Wednesday. The stock’s 50 day moving average is $9.68 and its 200-day moving average is $9.25. J.C. Penney has a 52-week low of $6.00 and a 52-week high of $11.99. The firm’s market capitalization is $2.90 billion.
J.C. Penney (NYSE:JCP) last announced its quarterly earnings data on Friday, August 12th. The department store operator reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. J.C. Penney had a negative net margin of 3.11% and a negative return on equity of 10.18%. The business earned $2.92 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the firm earned ($0.41) EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities analysts forecast that J.C. Penney will post $0.16 earnings per share for the current fiscal year.
In other J.C. Penney news, Chairman Marvin R. Ellison bought 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was acquired at an average cost of $9.92 per share, with a total value of $496,000.00. Following the completion of the purchase, the chairman now directly owns 2,557,317 shares in the company, valued at $25,368,584.64. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.28% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Parametrica Management Ltd purchased a new stake in shares of J.C. Penney during the second quarter valued at approximately $102,000. Invictus RG purchased a new stake in shares of J.C. Penney during the first quarter valued at approximately $103,000. Advisors Asset Management Inc. increased its stake in shares of J.C. Penney by 40.8% in the second quarter. Advisors Asset Management Inc. now owns 11,546 shares of the department store operator’s stock valued at $103,000 after buying an additional 3,346 shares during the period. Private Advisor Group LLC purchased a new stake in shares of J.C. Penney during the second quarter valued at approximately $115,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of J.C. Penney during the second quarter valued at approximately $138,000. 88.62% of the stock is owned by institutional investors and hedge funds.
J.C. Penney Company Profile
J. C. Penney Company, Inc is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation, Inc (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com, which utilizes optimized applications for desktop, mobile and tablet devices.
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