J C Penney (NYSE:JCP) has been assigned a $1.00 target price by B. Riley in a report issued on Friday, TipRanks reports. The firm currently has a “hold” rating on the department store operator’s stock. B. Riley’s price objective would suggest a potential downside of 12.28% from the company’s current price.
Separately, Zacks Investment Research cut J C Penney from a “buy” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Six research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.58.
J C Penney stock traded down $0.05 during trading hours on Friday, hitting $1.14. 11,141,600 shares of the stock traded hands, compared to its average volume of 9,111,367. The company has a debt-to-equity ratio of 3.35, a quick ratio of 0.27 and a current ratio of 1.52. The stock has a market cap of $376.48 million, a price-to-earnings ratio of -1.21 and a beta of 1.05. J C Penney has a one year low of $0.92 and a one year high of $3.16.
J C Penney (NYSE:JCP) last posted its quarterly earnings data on Thursday, February 28th. The department store operator reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.03. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.79 billion. J C Penney had a negative return on equity of 24.80% and a negative net margin of 2.12%. During the same period in the previous year, the firm posted $0.57 EPS. On average, analysts predict that J C Penney will post -0.76 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of JCP. WINTON GROUP Ltd bought a new stake in shares of J C Penney in the 4th quarter worth approximately $5,976,000. Tilden Park Management I LLC bought a new stake in shares of J C Penney in the 4th quarter worth approximately $5,888,000. Masters Capital Management LLC boosted its position in shares of J C Penney by 100.0% in the 4th quarter. Masters Capital Management LLC now owns 10,000,000 shares of the department store operator’s stock worth $10,400,000 after purchasing an additional 5,000,000 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of J C Penney by 4,841.8% in the 1st quarter. SG Americas Securities LLC now owns 3,885,428 shares of the department store operator’s stock worth $5,789,000 after purchasing an additional 3,806,804 shares in the last quarter. Finally, J. Goldman & Co LP boosted its position in shares of J C Penney by 169.9% in the 1st quarter. J. Goldman & Co LP now owns 3,993,750 shares of the department store operator’s stock worth $5,951,000 after purchasing an additional 2,514,191 shares in the last quarter. 73.25% of the stock is currently owned by hedge funds and other institutional investors.
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, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services.
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