J. C. Penney (JCP) Shares Gap Up to $3.07

J. C. Penney (NYSE:JCP)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $3.14, but opened at $3.07. J. C. Penney shares last traded at $2.74, with a volume of 42538953 shares changing hands.

Several equities research analysts recently commented on JCP shares. Telsey Advisory Group lowered their price target on J. C. Penney from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Friday. Credit Suisse Group started coverage on J. C. Penney in a research note on Monday, March 12th. They issued an “underperform” rating and a $2.50 price target for the company. B. Riley set a $4.00 price target on J. C. Penney and gave the company a “hold” rating in a research note on Monday, March 5th. Guggenheim reissued a “hold” rating on shares of J. C. Penney in a research note on Friday, March 2nd. Finally, ValuEngine cut J. C. Penney from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Four analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $4.07.

The company has a current ratio of 1.73, a quick ratio of 0.28 and a debt-to-equity ratio of 3.31.



J. C. Penney (NYSE:JCP) last announced its earnings results on Thursday, May 17th. The department store operator reported ($0.22) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.22). The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.62 billion. J. C. Penney had a negative return on equity of 1.62% and a negative net margin of 0.11%. The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. equities research analysts predict that J. C. Penney will post 0.11 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in J. C. Penney by 1.2% during the fourth quarter. BlackRock Inc. now owns 39,458,918 shares of the department store operator’s stock worth $124,688,000 after purchasing an additional 467,922 shares during the period. Aristotle Fund L.P. lifted its holdings in shares of J. C. Penney by 420.2% during the first quarter. Aristotle Fund L.P. now owns 4,739,000 shares of the department store operator’s stock worth $14,312,000 after buying an additional 3,828,000 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of J. C. Penney by 4.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 4,219,802 shares of the department store operator’s stock worth $12,744,000 after buying an additional 172,468 shares during the last quarter. Contrarius Investment Management Ltd acquired a new position in shares of J. C. Penney during the first quarter worth approximately $11,591,000. Finally, Intrinsic Edge Capital Management LLC lifted its holdings in shares of J. C. Penney by 744.0% during the first quarter. Intrinsic Edge Capital Management LLC now owns 2,849,879 shares of the department store operator’s stock worth $8,607,000 after buying an additional 2,512,208 shares during the last quarter. 77.53% of the stock is 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, home furnishings, and large appliances; and provides services, including styling salon, optical, portrait photography, custom decorating, and home services.

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