J.C. Penney Co. Price Target Lowered to $15.00 at Telsey Advisory Group (JCP)
Telsey Advisory Group dropped their target price on shares of J.C. Penney Co. (NYSE:JCP) from $20.00 to $15.00 in a research note issued on Wednesday, StockRatingsNetwork.com reports. The firm currently has a “not rated” rating on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 93.05% from the company’s current price.
Shares of J.C. Penney Co. (NYSE:JCP) opened at 7.77 on Wednesday. J.C. Penney Co. has a 52-week low of $7.59 and a 52-week high of $27.00. The stock has a 50-day moving average of $12.09 and a 200-day moving average of $15.21. The company’s market cap is $1.714 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 last year, the company posted ($0.37) earnings per share. J.C. Penney Co.’s revenue was down 11.9% compared to the same quarter last year. Analysts expect that J.C. Penney Co. will post $-6.08 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on JCP. Analysts at Deutsche Bank reiterated a “hold” rating on shares of J.C. Penney Co. in a research note to investors on Tuesday. Separately, analysts at Sterne Agee downgraded shares of J.C. Penney Co. from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $9.00 price target on the stock, down previously from $18.00. Finally, analysts at Barclays Capital cut their price target on shares of J.C. Penney Co. from $20.00 to $10.00 in a research note to investors on Tuesday, October 1st. They now have an “equal weight” rating on the stock. Eight equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $11.76.
J. C. Penney Company, Inc (NYSE:JCP), is a holding company.
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