J C Penney (JCP) Given a $4.00 Price Target at B. Riley

B. Riley set a $4.00 target price on J C Penney (NYSE:JCP) in a research report sent to investors on Friday, January 5th. The firm currently has a hold rating on the department store operator’s stock. B. Riley also issued estimates for J C Penney’s Q2 2019 earnings at $0.03 EPS and Q4 2019 earnings at $0.44 EPS.

Several other research analysts also recently commented on the company. Citigroup increased their price objective on J C Penney from $3.00 to $4.00 and gave the company a neutral rating in a research note on Friday, October 27th. Cowen set a $4.00 price objective on J C Penney and gave the company a hold rating in a research note on Thursday, November 30th. Jefferies Group reissued a hold rating and issued a $4.00 price objective on shares of J C Penney in a research note on Thursday, September 14th. Zacks Investment Research raised J C Penney from a sell rating to a hold rating in a research note on Monday, November 13th. Finally, Northcoast Research downgraded J C Penney from a buy rating to a neutral rating in a research note on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $4.78.

J C Penney (JCP) opened at $4.05 on Friday. J C Penney has a 52-week low of $2.35 and a 52-week high of $7.42. The stock has a market capitalization of $1,261.86, a P/E ratio of -6.98, a PEG ratio of 2.64 and a beta of 0.58. 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 (NYSE:JCP) last announced its earnings results on Friday, November 10th. The department store operator reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.10. J C Penney had a positive return on equity of 7.60% and a negative net margin of 1.43%. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the firm posted ($0.21) EPS. The business’s revenue was down 1.8% on a year-over-year basis. analysts expect that J C Penney will post 0.1 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the business. Griffin Asset Management Inc. acquired a new stake in shares of J C Penney in the 3rd quarter worth $644,000. California Public Employees Retirement System increased its stake 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 acquiring an additional 306,267 shares during the last quarter. Pinebridge Investments L.P. increased its stake 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 acquiring an additional 327,641 shares during the last quarter. Keel Point LLC increased its stake 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 acquiring an additional 54,000 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake 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 acquiring an additional 1,232,229 shares during the last quarter. 72.73% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for J C Penney (NYSE:JCP)

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