J.C. Penney Company (JCP) Posts Quarterly Results
J.C. Penney Company (NYSE:JCP) issued its quarterly earnings data on Thursday. The company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.38, American Banking and Market News reports. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.78 billion.
Shares of J.C. Penney Company (NYSE:JCP) traded up 4.17% on Thursday, hitting $9.74. 47,143,644 shares of the company’s stock traded hands. J.C. Penney Company has a 1-year low of $4.90 and a 1-year high of $14.65. The stock’s 50-day moving average is $9.01 and its 200-day moving average is $8.24. The company’s market cap is $2.969 billion.
A number of analysts have recently weighed in on JCP shares. Analysts at Craig Hallum upgraded shares of J.C. Penney Company from a “sell” rating to a “hold” rating in a research note on Monday. They now have a $10.00 price target on the stock. On a related note, analysts at Wells Fargo & Co. downgraded shares of J.C. Penney Company from a “market perform” rating to an “underperform” rating in a research note on Tuesday, May 20th. They now have a $5.00 price target on the stock, down previously from $6.00. They noted that the move was a valuation call. Finally, analysts at Nomura set a $8.00 price target on shares of J.C. Penney Company in a research note on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $8.03.
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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