J.C. Penney Company, Inc. Holding Company (NYSE:JCP) Reaches New 1-Year Low After Earnings Miss

J.C. Penney Company, Inc. Holding Company (NYSE:JCP) reached a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $3.88 and last traded at $3.90, with a volume of 83,123,309 shares trading hands. The stock had previously closed at $4.71.

The department store operator reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. J.C. Penney Company, Inc. Holding had a positive return on equity of 11.44% and a negative net margin of 0.89%. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the company posted ($0.05) EPS. J.C. Penney Company, Inc. Holding’s quarterly revenue was up 1.5% compared to the same quarter last year.

JCP has been the topic of a number of analyst reports. Telsey Advisory Group raised their price objective on shares of J.C. Penney Company, Inc. Holding from $7.00 to $11.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. ValuEngine raised shares of J.C. Penney Company, Inc. Holding from a “hold” rating to a “buy” rating in a research note on Tuesday, May 16th. BidaskClub raised shares of J.C. Penney Company, Inc. Holding from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “hold” rating and set a $7.00 price objective on shares of J.C. Penney Company, Inc. Holding in a research note on Tuesday, July 4th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of J.C. Penney Company, Inc. Holding in a research note on Saturday, May 13th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. J.C. Penney Company, Inc. Holding presently has an average rating of “Hold” and a consensus target price of $6.17.

A number of hedge funds and other institutional investors have recently made changes to their positions in JCP. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of J.C. Penney Company, Inc. Holding during the first quarter worth $234,000. LMR Partners LLP raised its position in shares of J.C. Penney Company, Inc. Holding by 109.7% in the first quarter. LMR Partners LLP now owns 82,172 shares of the department store operator’s stock worth $506,000 after buying an additional 42,980 shares during the last quarter. OppenheimerFunds Inc. raised its position in shares of J.C. Penney Company, Inc. Holding by 77.1% in the first quarter. OppenheimerFunds Inc. now owns 512,143 shares of the department store operator’s stock worth $3,155,000 after buying an additional 222,916 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of J.C. Penney Company, Inc. Holding by 33.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator’s stock worth $103,000 after buying an additional 4,205 shares during the last quarter. Finally, World Asset Management Inc raised its position in shares of J.C. Penney Company, Inc. Holding by 0.7% in the first quarter. World Asset Management Inc now owns 23,122 shares of the department store operator’s stock worth $142,000 after buying an additional 153 shares during the last quarter. Institutional investors own 77.17% of the company’s stock.

The stock’s market cap is $1.22 billion. The firm’s 50-day moving average price is $4.98 and its 200 day moving average price is $5.57.

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J.C. Penney Company, Inc. Holding Company Profile

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.

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