J.C. Penney Co. Downgraded by Buckingham Research to “Neutral” (JCP)
J.C. Penney Co. (NYSE:JCP) was downgraded by stock analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a report issued on Friday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wells Fargo & Co. reiterated an “underperform” rating on shares of J.C. Penney Co. (NYSE:JCP) in a research note to investors on Thursday. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of J.C. Penney Co. (NYSE:JCP) in a research note to investors on Thursday. Finally, 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. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $15.65.
J.C. Penney Co. (NYSE:JCP) opened at 10.42 on Friday. J.C. Penney Co. has a 1-year low of $9.52 and a 1-year high of $27.00. The stock has a 50-day moving average of $13.17 and a 200-day moving average of $15.63. The company’s market cap is $2.298 billion. J.C. Penney Co. also was the recipient of unusually large options trading on Tuesday. Stock investors purchased 70,268 put options on the stock. This is an increase of 212% compared to the average daily volume of 22,503 put options.
J.C. Penney Co. (NYSE:JCP) last released its earnings data on Tuesday, August 20th. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the 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. Analysts expect that J.C. Penney Co. will post $-6.21 EPS for the current fiscal year.
J. C. Penney Company, Inc (NYSE:JCP), is a holding company.
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