Traders Purchase Large Volume of J.C. Penney Co. Put Options (JCP)
J.C. Penney Co. (NYSE:JCP) saw some unusual options trading on Tuesday. Traders bought 129,377 put options on the stock, ARN reports. This is an increase of approximately 447% compared to the typical daily volume of 23,632 put options.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of J.C. Penney Co. in a research note to investors on Friday, December 20th. They now have a $8.35 price target on the stock. Separately, analysts at Goldman Sachs Group Inc. cut their price target on shares of J.C. Penney Co. to $9.50 in a research note to investors on Thursday, December 19th. Finally, analysts at Wells Fargo & Co. reiterated an “underperform” rating on shares of J.C. Penney Co. in a research note to investors on Wednesday, December 4th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $11.04.
Shares of J.C. Penney Co. (NYSE:JCP) traded down 5.54% during mid-day trading on Tuesday, hitting $8.19. 30,783,682 shares of the company’s stock traded hands. J.C. Penney Co. has a 52 week low of $6.24 and a 52 week high of $23.10. The stock’s 50-day moving average is $8. and its 200-day moving average is $11.46. The company’s market cap is $2.495 billion.
J.C. Penney Co. (NYSE:JCP) last posted its quarterly earnings results on Wednesday, November 20th. The company reported ($1.81) earnings per share for the quarter, missing the analysts’ consensus estimate of ($1.72) by $0.09. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the company posted ($0.93) earnings per share. J.C. Penney Co.’s revenue was down 5.1% compared to the same quarter last year. Analysts expect that J.C. Penney Co. will post $-6.01 EPS for the current fiscal year.
J. C. Penney Company, Inc (NYSE:JCP), is a holding company.
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