J.C. Penney Co. Sees Unusually High Options Volume (JCP)
J.C. Penney Co. (NYSE:JCP) was the target of unusually large options trading activity on Friday. Stock traders acquired 103,484 call options on the company, Stock Ratings Network reports. This is an increase of 166% compared to the typical daily volume of 38,908 call options.
JCP has been the subject of a number of recent research reports. Analysts at UBS AG cut their price target on shares of J.C. Penney Co. (NYSE:JCP) from $10.00 to $7.00 in a research note to investors on Friday. They now have a “sell” rating on the stock. Separately, analysts at BTIG Research reiterated a “buy” rating on shares of J.C. Penney Co. (NYSE:JCP) in a research note to investors on Friday. They now have a $11.00 price target on the stock, down previously from $22.00. Finally, analysts at Goldman Sachs Group Inc. cut their price target on shares of J.C. Penney Co. (NYSE:JCP) from $20.00 to $1.00 in a research note to investors on Friday. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight 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 $14.52.
Shares of J.C. Penney Co. (NYSE:JCP) traded down 13.15% during mid-day trading on Friday, hitting $9.05. The stock had a trading volume of 256,431,776 shares. J.C. Penney Co. has a 1-year low of $9.52 and a 1-year high of $27.00. The stock’s 50-day moving average is $13.17 and its 200-day moving average is $15.63. The company’s market cap is $1.996 billion.
J.C. Penney Co. (NYSE:JCP) last announced its earnings results on Tuesday, August 20th. The company reported ($1.17) earnings per share for the quarter, missing the analysts’ 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 prior year, the company posted ($0.37) earnings per share. The company’s quarterly revenue was down 11.9% on a year-over-year basis. On average, analysts predict that J.C. Penney Co. will post $-6.21 earnings per share for the current fiscal year.
J. C. Penney Company, Inc (NYSE:JCP), is a holding company.
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