J C Penney (NYSE:JCP) had its target price decreased by Telsey Advisory Group from $2.00 to $1.25 in a research report report published on Friday, Marketbeat Ratings reports. Telsey Advisory Group currently has a market perform rating on the department store operator’s stock.

JCP has been the topic of several other research reports. Zacks Investment Research cut shares of J C Penney from a hold rating to a strong sell rating in a report on Tuesday, August 21st. Credit Suisse Group reduced their target price on shares of J C Penney from $2.00 to $1.00 and set an underperform rating on the stock in a report on Thursday, August 16th. Piper Jaffray Companies reaffirmed a hold rating and issued a $1.50 target price on shares of J C Penney in a report on Friday, August 17th. JPMorgan Chase & Co. cut shares of J C Penney from a neutral rating to an underweight rating and set a $10.00 target price on the stock. in a report on Thursday, August 16th. Finally, Deutsche Bank dropped their price target on shares of J C Penney from $3.00 to $2.00 and set a hold rating on the stock in a research note on Friday, August 17th. Six equities research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The company presently has an average rating of Hold and an average target price of $3.02.

Shares of NYSE:JCP opened at $1.27 on Friday. The company has a market capitalization of $405.43 million, a P/E ratio of 5.77 and a beta of 0.97. J C Penney has a fifty-two week low of $1.04 and a fifty-two week high of $4.75. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.17 and a current ratio of 1.58.

J C Penney (NYSE:JCP) last issued its earnings results on Thursday, November 15th. The department store operator reported ($0.52) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.57) by $0.05. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.81 billion. J C Penney had a negative net margin of 0.62% and a negative return on equity of 13.97%. During the same quarter last year, the company earned ($0.33) earnings per share. As a group, analysts predict that J C Penney will post -0.92 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in JCP. Contrarius Investment Management Ltd increased its stake in J C Penney by 281.1% in the second quarter. Contrarius Investment Management Ltd now owns 14,626,462 shares of the department store operator’s stock valued at $34,226,000 after purchasing an additional 10,788,248 shares during the last quarter. Tyvor Capital LLC purchased a new position in J C Penney in the third quarter valued at approximately $10,871,000. BlackRock Inc. grew its position in shares of J C Penney by 5.2% during the second quarter. BlackRock Inc. now owns 41,765,412 shares of the department store operator’s stock worth $97,730,000 after acquiring an additional 2,062,002 shares during the last quarter. Aristotle Fund L.P. grew its position in shares of J C Penney by 31.5% during the second quarter. Aristotle Fund L.P. now owns 6,234,000 shares of the department store operator’s stock worth $14,588,000 after acquiring an additional 1,495,000 shares during the last quarter. Finally, Strs Ohio grew its position in shares of J C Penney by 21.7% during the second quarter. Strs Ohio now owns 5,600,000 shares of the department store operator’s stock worth $13,104,000 after acquiring an additional 1,000,000 shares during the last quarter. Institutional investors own 66.99% 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.

Further Reading: Balanced Fund

Analyst Recommendations for J C Penney (NYSE:JCP)

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