An issue of J C Penney Company Inc (NYSE:JCP) bonds rose 3.7% against their face value during trading on Thursday. The debt issue has a 7.4% coupon and is set to mature on April 1, 2037. The debt is now trading at $75.70 and was trading at $72.00 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its share price.

A number of research firms have commented on JCP. Jefferies Group reissued a “hold” rating and set a $4.00 target price on shares of J C Penney in a research report on Thursday, September 14th. Piper Jaffray Companies set a $4.00 target price on shares of J C Penney and gave the company a “hold” rating in a research report on Wednesday. Robert W. Baird set a $4.00 target price on shares of J C Penney and gave the company a “hold” rating in a research report on Thursday, January 4th. B. Riley set a $4.00 target price on shares of J C Penney and gave the company a “hold” rating in a research report on Friday, January 5th. Finally, Citigroup raised their target price on shares of J C Penney from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. 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 company. J C Penney has an average rating of “Hold” and a consensus price target of $4.78.

Shares of J C Penney Company Inc (NYSE JCP) traded up $0.12 during trading on Thursday, hitting $4.09. 33,760,000 shares of the stock were exchanged, compared to its average volume of 18,400,000. The company has a debt-to-equity ratio of 3.95, a quick ratio of 0.16 and a current ratio of 1.44. J C Penney Company Inc has a 52-week low of $2.35 and a 52-week high of $7.42. The stock has a market cap of $1,270.00, a P/E ratio of -6.70, a P/E/G ratio of 2.86 and a beta of 0.58.

J C Penney (NYSE:JCP) last issued its quarterly earnings data on Friday, November 10th. The department store operator reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.10. J C Penney had a negative net margin of 4.56% and a negative return on equity of 45.98%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm earned ($0.21) EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. equities research analysts expect that J C Penney Company Inc will post 0.08 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Griffin Asset Management Inc. purchased a new position in shares of J C Penney in the 3rd quarter worth approximately $644,000. California Public Employees Retirement System grew its position in shares of J C Penney by 24.7% in the 3rd quarter. California Public Employees Retirement System now owns 1,544,500 shares of the department store operator’s stock worth $5,885,000 after buying an additional 306,267 shares during the last quarter. Pinebridge Investments L.P. grew its position in shares of J C Penney by 802.7% in the 3rd quarter. Pinebridge Investments L.P. now owns 368,458 shares of the department store operator’s stock worth $1,404,000 after buying an additional 327,641 shares during the last quarter. Keel Point LLC grew its position in shares of J C Penney by 100.0% in the 3rd quarter. Keel Point LLC now owns 108,000 shares of the department store operator’s stock worth $411,000 after buying an additional 54,000 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of J C Penney by 52.4% in the 3rd quarter. SG Americas Securities LLC now owns 3,585,977 shares of the department store operator’s stock worth $13,663,000 after buying an additional 1,232,229 shares during the last quarter. 72.73% of the stock is currently owned by hedge funds and other institutional investors.

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J C Penney Company Profile

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.

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