J C Penney (JCP) Trading Down 8.9%

J C Penney Company Inc (NYSE:JCP)’s share price fell 8.9% on Thursday . The company traded as low as $1.72 and last traded at $1.73. 14,069,100 shares were traded during mid-day trading, a decline of 14% from the average session volume of 16,319,315 shares. The stock had previously closed at $1.90.

A number of research firms recently weighed in on JCP. Zacks Investment Research lowered shares of J C Penney from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 21st. Piper Jaffray Companies reiterated a “hold” rating and issued a $1.50 price objective on shares of J C Penney in a research report on Friday, August 17th. Deutsche Bank lowered their price objective on shares of J C Penney from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Friday, August 17th. B. Riley lowered their price objective on shares of J C Penney from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Friday, August 17th. Finally, Citigroup lowered their price objective on shares of J C Penney to $2.00 and set a “sell” rating on the stock in a research report on Friday, August 17th. Six equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. J C Penney currently has a consensus rating of “Hold” and a consensus price target of $3.10.

The stock has a market capitalization of $600.29 million, a P/E ratio of 8.68 and a beta of 0.66. The company has a current ratio of 1.63, a quick ratio of 0.20 and a debt-to-equity ratio of 3.43.

J C Penney (NYSE:JCP) last issued its earnings results on Thursday, August 16th. The department store operator reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.81 billion. J C Penney had a negative return on equity of 8.98% and a negative net margin of 0.43%. J C Penney’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. analysts forecast that J C Penney Company Inc will post -0.83 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of JCP. Eqis Capital Management Inc. purchased a new stake in shares of J C Penney during the 2nd quarter worth $135,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of J C Penney during the 2nd quarter worth $156,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new position in shares of J C Penney during the 2nd quarter worth $160,000. Commonwealth Equity Services LLC raised its stake in shares of J C Penney by 132.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 68,228 shares of the department store operator’s stock worth $160,000 after buying an additional 38,858 shares during the last quarter. Finally, CSat Investment Advisory L.P. acquired a new position in shares of J C Penney during the 2nd quarter worth $222,000. 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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