J C Penney Company Inc (NYSE:JCP) – Equities researchers at Jefferies Group raised their FY2019 earnings per share estimates for shares of J C Penney in a research note issued on Thursday. Jefferies Group analyst R. Konik now forecasts that the department store operator will post earnings of $0.11 per share for the year, up from their previous forecast of $0.09. Jefferies Group has a “Hold” rating and a $3.00 price objective on the stock.

J C Penney (NYSE:JCP) last posted its quarterly earnings results on Friday, November 10th. The department store operator reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.10. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.77 billion. J C Penney had a negative net margin of 1.43% and a positive return on equity of 7.60%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.21) EPS.

Other analysts also recently issued research reports about the stock. B. Riley set a $4.00 price objective on shares of J C Penney and gave the stock a “hold” rating in a research report on Friday. Piper Jaffray Companies set a $3.00 price objective on shares of J C Penney and gave the stock a “hold” rating in a research report on Friday, October 27th. Atlantic Securities downgraded shares of J C Penney from an “overweight” rating to a “neutral” rating in a research report on Friday, October 27th. Robert W. Baird set a $4.00 price objective on shares of J C Penney and gave the stock a “hold” rating in a research report on Thursday. Finally, Susquehanna Bancshares downgraded shares of J C Penney from a “positive” rating to a “neutral” rating and set a $3.00 price objective for the company. in a research report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.73.

Shares of J C Penney (NYSE JCP) traded down $0.08 during trading hours on Friday, hitting $3.61. 21,600,000 shares of the stock traded hands, compared to its average volume of 17,870,000. The stock has a market cap of $1,120.00, a P/E ratio of -5.92, a PEG ratio of 3.56 and a beta of 0.58. The company has a quick ratio of 0.16, a current ratio of 1.44 and a debt-to-equity ratio of 3.95. J C Penney has a twelve month low of $2.35 and a twelve month high of $8.15.

Hedge funds have recently added to or reduced their stakes in the stock. Blair William & Co. IL raised its position in J C Penney by 3.1% in the 2nd quarter. Blair William & Co. IL now owns 33,625 shares of the department store operator’s stock valued at $156,000 after purchasing an additional 1,000 shares during the last quarter. Quinn Opportunity Partners LLC raised its position in J C Penney by 13.9% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 40,900 shares of the department store operator’s stock valued at $190,000 after purchasing an additional 5,000 shares during the last quarter. Pinebridge Investments L.P. purchased a new stake in J C Penney in the 2nd quarter valued at $190,000. Piedmont Investment Advisors LLC purchased a new stake in J C Penney in the 2nd quarter valued at $311,000. Finally, Lenox Wealth Management Inc. raised its position in J C Penney by 93.5% in the 2nd quarter. Lenox Wealth Management Inc. now owns 71,386 shares of the department store operator’s stock valued at $332,000 after purchasing an additional 34,486 shares during the last quarter. Hedge funds and other institutional investors own 72.73% of the company’s stock.

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About J C Penney

J. C. Penney Company, Inc is a holding company. The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website.

Earnings History and Estimates for J C Penney (NYSE:JCP)

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