J.C. Penney Co. Receives “Hold” Rating from Deutsche Bank (JCP)
J.C. Penney Co. (NYSE:JCP)‘s stock had its “hold” rating reiterated by stock analysts at Deutsche Bank in a report issued on Thursday, AnalystRatingsNetwork.com reports.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. set a $7.00 price target on shares of J.C. Penney Co. (NYSE:JCP) in a research note to investors on Thursday. They now have a “sell” rating on the stock. Separately, analysts at Maxim Group reiterated a “buy” rating on shares of J.C. Penney Co. (NYSE:JCP) in a research note to investors on Wednesday. They now have a $22.00 price target on the stock, down previously from $27.00. Finally, analysts at Goldman Sachs Group Inc. initiated coverage on shares of J.C. Penney Co. (NYSE:JCP) in a research note to investors on Tuesday. They set an “underperform” rating on the stock. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. J.C. Penney Co. presently has an average rating of “Hold” and a consensus price target of $15.65.
Shares of J.C. Penney Co. (NYSE:JCP) traded up 8.20% during mid-day trading on Thursday, hitting $10.95. The stock had a trading volume of 70,533,912 shares. J.C. Penney Co. has a 52 week low of $9.93 and a 52 week high of $27.00. The stock’s 50-day moving average is $13.23 and its 200-day moving average is $15.67. The company’s market cap is $2.415 billion. J.C. Penney Co. also was the target of unusually large options trading on Tuesday. Investors bought 70,268 put options on the company. This is an increase of 212% compared to the average daily volume of 22,503 put options.
J.C. Penney Co. (NYSE:JCP) last announced its earnings results on Tuesday, August 20th. The company reported ($1.17) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($1.06) by $0.11. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the previous year, the company posted ($0.37) earnings per share. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, analysts predict that J.C. Penney Co. will post $-6.13 earnings per share for the current fiscal year.
J. C. Penney Company, Inc (NYSE:JCP), is a holding company.
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