J C Penney Company Inc (NYSE:JCP) – Equities research analysts at B. Riley decreased their Q2 2019 earnings per share (EPS) estimates for shares of J C Penney in a note issued to investors on Friday. B. Riley analyst J. Van. Sinderen now anticipates that the department store operator will post earnings per share of $0.03 for the quarter, down from their previous forecast of $0.05. B. Riley has a “Hold” rating and a $4.00 price target on the stock. B. Riley also issued estimates for J C Penney’s Q4 2019 earnings at $0.44 EPS.

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 analysts’ consensus estimates of ($0.43) by $0.10. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.77 billion. J C Penney had a negative net margin of 4.56% and a negative return on equity of 45.98%. J C Penney’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.21) EPS.

A number of other research firms have also recently commented on JCP. Zacks Investment Research raised shares of J C Penney from a “sell” rating to a “hold” rating in a report on Monday, November 13th. Cowen set a $4.00 price target on shares of J C Penney and gave the stock a “hold” rating in a report on Thursday, November 30th. BMO Capital Markets lowered their target price on shares of J C Penney from $4.00 to $2.75 and set a “market perform” rating on the stock in a report on Monday, October 30th. Citigroup cut shares of J C Penney from a “neutral” rating to a “sell” rating and lowered their target price for the company from $4.00 to $3.00 in a report on Monday, October 30th. Finally, Northcoast Research cut shares of J C Penney from a “buy” rating to a “neutral” rating in a report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $4.73.

J C Penney (NYSE:JCP) traded up $0.03 during trading hours on Monday, hitting $3.74. 12,455,100 shares of the company were exchanged, compared to its average volume of 18,320,000. The company has a debt-to-equity ratio of 3.95, a current ratio of 1.44 and a quick ratio of 0.16. The company has a market cap of $1,170.00, a PE ratio of -6.13, a PEG ratio of 2.86 and a beta of 0.58. J C Penney has a 52 week low of $2.35 and a 52 week high of $7.57.

A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its holdings in shares of J C Penney by 10.6% in the second quarter. Rhumbline Advisers now owns 629,809 shares of the department store operator’s stock worth $2,929,000 after purchasing an additional 60,340 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of J C Penney by 9.8% in the second quarter. Bank of New York Mellon Corp now owns 3,689,064 shares of the department store operator’s stock worth $17,154,000 after purchasing an additional 329,909 shares during the period. Blair William & Co. IL increased its holdings in shares of J C Penney by 3.1% in the second quarter. Blair William & Co. IL now owns 33,625 shares of the department store operator’s stock worth $156,000 after purchasing an additional 1,000 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of J C Penney by 93.9% in the second quarter. Ameriprise Financial Inc. now owns 1,629,688 shares of the department store operator’s stock worth $7,577,000 after purchasing an additional 789,312 shares during the period. Finally, Thrivent Financial For Lutherans increased its holdings in shares of J C Penney by 219.6% in the second quarter. Thrivent Financial For Lutherans now owns 186,920 shares of the department store operator’s stock worth $869,000 after purchasing an additional 128,430 shares during the period. 72.73% of the stock is currently owned by institutional investors and hedge funds.

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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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