JC Penney Company, Inc. Holding Company (NYSE:JCP) Updates FY18 Earnings Guidance

14 Août, 2017, 04:11 | Author: Marc Bacque

J C Penney Company Inc (NYSE:JCP) cratered by more than 16% on Friday after the company's second-quarter earnings report, released before the opening bell.

JCP has been the subject of several other research reports. UBS AG reissued a "sell" rating and issued a $4.00 price target (down previously from $5.00) on shares of J.C. Penney Company, Inc. Holding in a research report on Thursday, August 3rd. CIBC reiterated a market perform rating on shares of J.C. Penney Company, Inc. Holding in a research report on Tuesday, May 23rd. Piper Jaffray Companies set a $5.00 price target on J.C. Penney Company, Inc. Citigroup Inc. lifted their target price on J.C. Penney Company, Inc. Holding from $7.00 to $11.00 and gave the company an "outperform" rating in a report on Monday, May 15th. Finally, Gordon Haskett upgraded J.C. Penney Company, Inc. Holding from a reduce rating to a hold rating and set a $4.50 target price on the stock in a research report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. BidaskClub raised J.C. Penney Company, Inc. The company's stock had a trading volume of 116,459,933 shares. The firm has a 50-day moving average price of $4.97 and a 200 day moving average price of $5.55.

After J C Penney Q2 2017 earnings were released, the company's stock plummeted and was on track to open at a record low. Holding (NYSE:JCP) last posted its quarterly earnings data on Friday, August 11th. The department store operator reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($0.06) by $0.03. Holding had a positive return on equity of 11.44% and a negative net margin of 0.89%. In last year's second quarter, J C Penney reported $2.92 billion in revenue and adjusted losses of 5 cents per share or $16 million. During the same quarter previous year, the firm earned ($0.05) earnings per share. The firm's revenue for the quarter was up 1.5% on a year-over-year basis.

J. C. Penney Company, Inc. Holding will post $0.49 EPS for the current fiscal year.

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Institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in J.C. Penney Company, Inc. Holding during the first quarter worth $1,158,000.

The department store chain also affirmed its full-year guidance of 40 cents to 65 cents per share of JCP stock in adjusted earnings. Strs Ohio increased its position in shares of J.C. Penney Company, Inc. Holding by 59.0% in the first quarter. They now have $6.25 target price on the department store operator's stock. Teachers Advisors LLC increased its stake in J.C. Penney Company, Inc. Holding by 0.9% in the first quarter. Janney Montgomery Scott LLC now owns 19,818 shares of the department store operator's stock worth $122,000 after buying an additional 9,068 shares during the last quarter. J. C. Penney is also gradually increasing the count of Sephora stores. IL now owns 33,625 shares of the department store operator's stock valued at $156,000 after buying an additional 1,000 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of J.C. Penney Company, Inc. Holding during the fourth quarter worth about $12,324,000. Grassi Investment Management now owns 75,200 shares of the department store operator's stock worth $463,000 after buying an additional 27,900 shares in the last quarter.

About J.C. Penney Company, Inc.

J. C. Penney Company, Inc is a holding company. 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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