J.C. Penney Company, Inc. Holding Company (NYSE:JCP) Hits New 12-Month Low Following Weak Earnings

J.C. Penney Company, Inc. Holding Company (NYSE:JCP) shares hit a new 52-week low during mid-day trading on Friday following a weaker than expected earnings announcement. The company traded as low as $3.88 and last traded at $3.90, with a volume of 83,123,309 shares changing hands. The stock had previously closed at $4.71.

The department store operator reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.05. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.84 billion. J.C. Penney Company, Inc. Holding had a positive return on equity of 11.44% and a negative net margin of 0.89%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) earnings per share.

A number of analysts have recently weighed in on the stock. Piper Jaffray Companies set a $4.00 target price on shares of J.C. Penney Company, Inc. Holding and gave the stock a “hold” rating in a research report on Friday. Telsey Advisory Group downgraded shares of J.C. Penney Company, Inc. Holding from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $7.00 to $5.00 in a research report on Friday. Credit Suisse Group downgraded shares of J.C. Penney Company, Inc. Holding to a “sell” rating in a research report on Thursday. Zacks Investment Research raised shares of J.C. Penney Company, Inc. Holding from a “hold” rating to a “strong-buy” rating and set a $6.25 price objective on the stock in a research report on Thursday. Finally, Deutsche Bank AG increased their price objective on shares of J.C. Penney Company, Inc. Holding from $5.50 to $6.50 and gave the company a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $6.11.

A number of large investors have recently added to or reduced their stakes in JCP. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in J.C. Penney Company, Inc. Holding during the first quarter worth approximately $234,000. LMR Partners LLP boosted its stake in J.C. Penney Company, Inc. Holding by 109.7% in the first quarter. LMR Partners LLP now owns 82,172 shares of the department store operator’s stock worth $506,000 after buying an additional 42,980 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in J.C. Penney Company, Inc. Holding by 77.1% in the first quarter. OppenheimerFunds Inc. now owns 512,143 shares of the department store operator’s stock worth $3,155,000 after buying an additional 222,916 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in J.C. Penney Company, Inc. Holding by 33.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,721 shares of the department store operator’s stock worth $103,000 after buying an additional 4,205 shares during the last quarter. Finally, World Asset Management Inc boosted its stake in J.C. Penney Company, Inc. Holding by 0.7% in the first quarter. World Asset Management Inc now owns 23,122 shares of the department store operator’s stock worth $142,000 after buying an additional 153 shares during the last quarter. Institutional investors own 77.17% of the company’s stock.

The company has a 50 day moving average price of $4.97 and a 200-day moving average price of $5.55. The stock’s market cap is $1.22 billion.

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About J.C. Penney Company, Inc. Holding

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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