J.C. Penney Company, Inc. Holding Company (NYSE:JCP) Hits New 12-Month Low on Disappointing Earnings

J.C. Penney Company, Inc. Holding Company (NYSE:JCP) hit a new 52-week low on Friday following a weaker than expected earnings announcement. The company traded as low as $3.88 and last traded at $3.90, with a volume of 83,123,309 shares traded. The stock had previously closed at $4.71.

The department store operator reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by $0.03. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.84 billion. J.C. Penney Company, Inc. Holding had a positive return on equity of 11.44% and a negative net margin of 0.89%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business posted ($0.05) earnings per share.

Several research analysts recently weighed in on JCP shares. Telsey Advisory Group increased their target price on J.C. Penney Company, Inc. Holding from $7.00 to $11.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. ValuEngine raised J.C. Penney Company, Inc. Holding from a “hold” rating to a “buy” rating in a research report on Tuesday, May 16th. Zacks Investment Research raised J.C. Penney Company, Inc. Holding from a “sell” rating to a “buy” rating and set a $5.75 target price on the stock in a research report on Tuesday, July 18th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of J.C. Penney Company, Inc. Holding in a research report on Monday, May 22nd. Finally, Deutsche Bank AG downgraded J.C. Penney Company, Inc. Holding from a “buy” rating to a “hold” rating and lowered their price target for the company from $9.00 to $5.50 in a report on Monday, May 15th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $5.95.

A number of institutional investors have recently bought and sold shares of the company. Wedge Capital Management L L P NC increased its position in J.C. Penney Company, Inc. Holding by 45.8% in the first quarter. Wedge Capital Management L L P NC now owns 84,148 shares of the department store operator’s stock worth $518,000 after buying an additional 26,426 shares during the period. Oregon Public Employees Retirement Fund increased its position in J.C. Penney Company, Inc. Holding by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 107,380 shares of the department store operator’s stock worth $661,000 after buying an additional 1,500 shares during the period. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in J.C. Penney Company, Inc. Holding during the first quarter worth approximately $234,000. First Midwest Bank Trust Division purchased a new position in J.C. Penney Company, Inc. Holding during the first quarter worth approximately $1,158,000. Finally, Financial Architects Inc increased its position in J.C. Penney Company, Inc. Holding by 47.3% in the first quarter. Financial Architects Inc now owns 93,986 shares of the department store operator’s stock worth $579,000 after buying an additional 30,200 shares during the period. Institutional investors and hedge funds own 77.17% of the company’s stock.

The stock’s market capitalization is $1.22 billion. The company has a 50-day moving average price of $4.97 and a 200-day moving average price of $5.55.

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J.C. Penney Company, Inc. Holding 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.

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