J C Penney Company Inc (JCP) Given Average Recommendation of “Hold” by Brokerages

Shares of J C Penney Company Inc (NYSE:JCP) have been assigned an average recommendation of “Hold” from the twenty-four brokerages that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $4.42.

A number of brokerages have recently commented on JCP. Piper Jaffray Companies set a $4.00 price objective on J C Penney and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Robert W. Baird set a $4.00 price objective on J C Penney and gave the stock a “hold” rating in a research report on Thursday, January 4th. B. Riley set a $4.00 price objective on J C Penney and gave the stock a “hold” rating in a research report on Friday, January 5th. Citigroup boosted their price objective on J C Penney from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Finally, Atlantic Securities downgraded J C Penney from an “overweight” rating to a “neutral” rating in a report on Friday, October 27th.

Several hedge funds have recently bought and sold shares of JCP. SG Americas Securities LLC boosted its holdings in shares of J C Penney by 52.4% in the third quarter. SG Americas Securities LLC now owns 3,585,977 shares of the department store operator’s stock valued at $13,663,000 after acquiring an additional 1,232,229 shares during the period. Quantitative Investment Management LLC purchased a new stake in shares of J C Penney during the second quarter worth approximately $5,140,000. Ameriprise Financial Inc. raised its stake in shares of J C Penney by 93.9% during the second quarter. Ameriprise Financial Inc. now owns 1,629,688 shares of the department store operator’s stock worth $7,577,000 after purchasing an additional 789,312 shares during the last quarter. Intrinsic Edge Capital Management LLC raised its stake in shares of J C Penney by 78.2% during the second quarter. Intrinsic Edge Capital Management LLC now owns 1,256,635 shares of the department store operator’s stock worth $5,843,000 after purchasing an additional 551,645 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of J C Penney by 9.8% during the second quarter. Bank of New York Mellon Corp now owns 3,689,064 shares of the department store operator’s stock worth $17,154,000 after purchasing an additional 329,909 shares during the last quarter. 72.73% of the stock is owned by institutional investors and hedge funds.

J C Penney (NYSE JCP) opened at $4.05 on Tuesday. J C Penney has a 52-week low of $2.35 and a 52-week high of $7.42. The company has a market capitalization of $1,260.00, a PE ratio of -6.64, a PEG ratio of 2.64 and a beta of 0.58. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.16 and a current ratio of 1.44.

J C Penney (NYSE:JCP) last announced its quarterly earnings data on Friday, November 10th. The department store operator reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.10. J C Penney had a positive return on equity of 7.60% and a negative net margin of 1.43%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the company posted ($0.21) earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. research analysts predict that J C Penney will post 0.1 EPS for the current year.

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About J C Penney

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.

Analyst Recommendations for J C Penney (NYSE:JCP)

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