J.C. Penney Company Given Neutral Rating at Sterne Agee (JCP)
J.C. Penney Company (NYSE:JCP)‘s stock had its “neutral” rating reiterated by research analysts at Sterne Agee in a report released on Friday, AmericanBankingNews.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of J.C. Penney Company from $6.00 to $10.00 in a research note on Friday. They now have a “hold” rating on the stock. Separately, analysts at Piper Jaffray reiterated a “positive” rating on shares of J.C. Penney Company in a research note on Friday. Finally, 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, May 7th. They now have a $4.00 price target on the stock, down previously from $9.00. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $9.24.
Shares of J.C. Penney Company (NYSE:JCP) opened at 8.37 on Friday. J.C. Penney Company has a 52 week low of $4.90 and a 52 week high of $19.63. The stock’s 50-day moving average is $8.45 and its 200-day moving average is $7.9. The company’s market cap is $2.550 billion. J.C. Penney Company also was the recipient of some unusual options trading activity on Wednesday. Investors acquired 43,769 put options on the company. This represents an increase of approximately 180% compared to the average daily volume of 15,633 put options.
J.C. Penney Company (NYSE:JCP) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($1.15) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($1.25) by $0.10. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.71 billion. 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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