J C Penney (NYSE:JCP) Earns Hold Rating from Analysts at B. Riley

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B. Riley assumed coverage on shares of J C Penney (NYSE:JCP) in a research note published on Friday morning, TipRanks reports. The brokerage issued a hold rating and a $1.00 price target on the department store operator’s stock.

Separately, Zacks Investment Research downgraded shares of J C Penney from a buy rating to a strong sell rating in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of Hold and an average target price of $1.55.

Shares of NYSE JCP traded down $0.02 during midday trading on Friday, reaching $0.59. 7,117,853 shares of the company were exchanged, compared to its average volume of 12,448,622. The company has a current ratio of 1.37, a quick ratio of 0.24 and a debt-to-equity ratio of 4.86. J C Penney has a 1 year low of $0.53 and a 1 year high of $2.05. The stock has a fifty day simple moving average of $0.90 and a 200 day simple moving average of $1.20. The stock has a market cap of $184.51 million, a P/E ratio of -0.63 and a beta of 1.59.

J C Penney (NYSE:JCP) last announced its quarterly earnings data on Thursday, August 15th. The department store operator reported ($0.18) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.14. J C Penney had a negative return on equity of 29.24% and a negative net margin of 2.38%. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the company earned ($0.38) EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, analysts forecast that J C Penney will post -1.17 earnings per share for the current year.

In related news, Director Javier G. Teruel bought 223,419 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were acquired at an average price of $0.98 per share, for a total transaction of $218,950.62. Following the purchase, the director now owns 1,045,903 shares in the company, valued at approximately $1,024,984.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.41% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Marshall Wace North America L.P. bought a new position in shares of J C Penney in the first quarter valued at approximately $41,000. Regentatlantic Capital LLC acquired a new stake in J C Penney during the first quarter valued at approximately $41,000. Magnus Financial Group LLC acquired a new stake in J C Penney during the first quarter valued at approximately $53,000. Stone Ridge Asset Management LLC acquired a new stake in J C Penney during the second quarter valued at approximately $74,000. Finally, Millennium Management LLC lifted its stake in J C Penney by 157.8% during the fourth quarter. Millennium Management LLC now owns 75,468 shares of the department store operator’s stock valued at $78,000 after purchasing an additional 46,192 shares during the last quarter. Institutional investors and hedge funds own 69.34% 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, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services.

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Analyst Recommendations for J C Penney (NYSE:JCP)

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