J.C. Penney Company Short Interest Down 15.3% in April (JCP)
Shares of J.C. Penney Company (NYSE:JCP) saw a large decline in short interest in April. As of April 15th, there was short interest totalling 93,327,432 shares, a decline of 15.3% from the March 31st total of 110,168,352 shares, Analyst RN reports. Currently, 30.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 16,689,530 shares, the days-to-cover ratio is currently 5.6 days.
A number of research firms have recently commented on JCP. Analysts at Citigroup Inc. upgraded shares of J.C. Penney Company from a “sell” rating to a “neutral” rating in a research note on Wednesday. They now have a $4.00 price target on the stock, down previously from $9.00. Separately, analysts at UBS AG upgraded shares of J.C. Penney Company from a “sell” rating to a “neutral” rating in a research note on Wednesday. They now have a $9.00 price target on the stock, up previously from $4.00. Finally, analysts at Belus Capital upgraded shares of J.C. Penney Company from a “sell” rating to a “hold” rating in a research note on Thursday, April 10th. They now have a $9.00 price target on the stock. Six equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. J.C. Penney Company currently has an average rating of “Hold” and an average price target of $9.26.
Shares of J.C. Penney Company (NYSE:JCP) opened at 8.55 on Friday. J.C. Penney Company has a one year low of $4.90 and a one year high of $19.63. The stock’s 50-day moving average is $8.42 and its 200-day moving average is $7.89. The company’s market cap is $2.605 billion.
J.C. Penney Company (NYSE:JCP) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.68) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.76) by $0.08. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter last year, the company posted ($1.95) earnings per share. J.C. Penney Company’s revenue was down 2.6% compared to the same quarter last year. Analysts expect that J.C. Penney Company will post $-2.99 EPS for the current fiscal year.
J. C. Penney Company, Inc is a holding company whose principal operating subsidiary is J. C. Penney Corporation, Inc (NYSE:JCP).
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