HCP’s “Hold” Rating Reaffirmed at JPMorgan Chase & Co. (HCP)
HCP (NYSE:HCP)‘s stock had its “hold” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Friday, Stock Ratings Network.com reports. They currently have a $45.00 price objective on the stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 15.24% from the stock’s previous close.
Shares of HCP (NYSE:HCP) traded down 1.93% during mid-day trading on Friday, hitting $39.05. 7,791,408 shares of the company’s stock traded hands. HCP has a 52 week low of $38.93 and a 52 week high of $56.06. The stock’s 50-day moving average is $41.11 and its 200-day moving average is $46.48. The company has a market cap of $17.772 billion and a P/E ratio of 20.31.
HCP (NYSE:HCP) last announced its earnings results on Tuesday, July 30th. The company reported $0.72 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.74 by $0.02. The company had revenue of $516.30 million for the quarter, compared to the consensus estimate of $518.53 million. During the same quarter last year, the company posted $0.69 earnings per share. HCP’s revenue was up 12.1% compared to the same quarter last year. On average, analysts predict that HCP will post $2.98 earnings per share for the current fiscal year.
A number of other firms have also recently commented on HCP. Analysts at RBC Capital cut their price target on shares of HCP (NYSE:HCP) from $49.00 to $38.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Finally, analysts at Cowen and Company reiterated a “hold” rating on shares of HCP (NYSE:HCP) in a research note to investors on Monday, September 23rd. They now have a $41.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. HCP presently has an average rating of “Hold” and an average target price of $47.09.
HCP, Inc (NYSE:HCP) is a real estate investment trust (REIT).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.