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Investment analysts at Goldman Sachs Group Inc. dropped their price objective on shares of J.C. Penney Co. (NYSE:JCP) from $7.00 to $6.00 in a note issued to investors on Thursday, AnalystRatingsNetwork.com reports. Goldman Sachs Group Inc.’s price target would indicate a potential downside of 14.41% from the company’s current price.

J.C. Penney Co. (NYSE:JCP) traded down 5.14% on Thursday, hitting $6.65. 20,183,472 shares of the company’s stock traded hands. J.C. Penney Co. has a 1-year low of $6.24 and a 1-year high of $23.10. The stock has a 50-day moving average of $8.54 and a 200-day moving average of $11.04. The company’s market cap is $2.026 billion.

J.C. Penney Co. (NYSE:JCP) last released its earnings data on Wednesday, November 20th. The company reported ($1.81) EPS for the quarter, missing the Thomson Reuters 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. On average, analysts predict that J.C. Penney Co. will post $-6.03 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on JCP. Analysts at Piper Jaffray upgraded shares of J.C. Penney Co. from a “neutral” rating to an “overweight” rating in a research note to investors on Thursday, January 9th. They now have a $11.00 price target on the stock. Separately, analysts at Wells Fargo & Co. reiterated an “underperform” rating on shares of J.C. Penney Co. in a research note to investors on Wednesday, January 8th. Finally, 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. Eight research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $10.72.

J. C. Penney Company, Inc (NYSE:JCP), is a holding company.

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