J C Penney (NYSE:JCP) Receives “Neutral” Rating from B. Riley

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B. Riley reissued their neutral rating on shares of J C Penney (NYSE:JCP) in a research note released on Tuesday morning, Briefing.com Automated Import reports. They currently have a $0.60 target price on the department store operator’s stock, down from their previous target price of $1.30.

Separately, Zacks Investment Research lowered shares of J C Penney from a buy rating to a strong sell rating in a research note on Wednesday, May 1st. Six analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. J C Penney has an average rating of Sell and a consensus target price of $2.48.

Shares of JCP opened at $0.60 on Tuesday. The company has a debt-to-equity ratio of 4.75, a quick ratio of 0.24 and a current ratio of 1.51. J C Penney has a twelve month low of $0.53 and a twelve month high of $2.65. The firm has a 50 day moving average of $0.93. The company has a market capitalization of $190.12 million, a price-to-earnings ratio of -0.64 and a beta of 1.59.

J C Penney (NYSE:JCP) last announced its quarterly earnings results on Tuesday, May 21st. The department store operator reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.07). J C Penney had a negative net margin of 2.78% and a negative return on equity of 33.29%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm posted ($0.22) EPS. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, research analysts forecast that J C Penney will post -1.13 EPS for the current year.

In other J C Penney news, Director Javier G. Teruel acquired 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, with a total value of $218,950.62. Following the completion of the transaction, the director now directly owns 1,045,903 shares in the company, valued at approximately $1,024,984.94. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.41% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund lifted its position in shares of J C Penney by 4.0% in the first quarter. Texas Permanent School Fund now owns 214,627 shares of the department store operator’s stock worth $320,000 after purchasing an additional 8,234 shares in the last quarter. Comerica Bank lifted its position in shares of J C Penney by 2.9% in the first quarter. Comerica Bank now owns 314,211 shares of the department store operator’s stock worth $396,000 after purchasing an additional 8,965 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of J C Penney by 12.6% in the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 89,550 shares of the department store operator’s stock worth $133,000 after purchasing an additional 10,000 shares in the last quarter. Rhumbline Advisers lifted its position in shares of J C Penney by 1.2% in the first quarter. Rhumbline Advisers now owns 935,127 shares of the department store operator’s stock worth $1,393,000 after purchasing an additional 10,897 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of J C Penney by 16.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 88,150 shares of the department store operator’s stock worth $92,000 after purchasing an additional 12,253 shares in the last quarter. 69.79% of the stock is currently owned by institutional investors and hedge funds.

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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