Vetr downgraded J.C. Penney from a “buy” rating to a “hold” rating and set a $10.02 target price for the company.in a research report on Monday.
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Several hedge funds have modified their holdings of JCP. BlackRock Inc. boosted its stake in shares of J.C. Penney by 37.3% in the first quarter. Looking forward, analysts on average predict that earnings for the current quarter would come in between $0.14 and $0.15.
J.C. Penney Company has 307,440,000 shares which are now outstanding with a price of 10.55 calculating J.C. Penney Company’s market capitalisation to 3.24B Dollars. Orca Investment Management LLC acquired a new stake in shares of J.C. Penney during the second quarter worth approximately $2,816,000.
J.C. Penney’s other financial metrics such as margin expansion and sales stabilization still looked good. Its Director SIEKERKA MICHELE N sold 25,407 company shares for $293000.96, in a transaction on 2016-05-18. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. During last six month period, the net percent change held by insiders has seen a change of 3%. Holding Company and for the current quarter 19 analysts have projected that the stock could give an Average Earnings estimate of $-0.2/share. J.C. Penney Company has been the topic of 20 analyst reports since August 17, 2015 according to StockzIntelligence Inc. Telsey Advisory Group now has a $13.00 PT on the $3.44 billion market cap company or 23.22% upside potential.
Stock prices often move to the upside on recommendations and new price targets of professional analysts. These analysts have also projected a Low Estimate of $-0.31/share and a High Estimate of $-0.11/share. This represented an Earnings Surprise of 66.7%. J.C. Penney’s revenue for the quarter was up 1.5% on a year-over-year basis.
The share price of Great Panther Silver Ltd (NYSEMKT:GPL) surged 313.11% for the year.
A number of other research firms also recently weighed in on JCP. 21 Analysts reported that the Price Target for J.C. Penney Company, Inc.
J.C. Penney was oversold at the time. partly because of an overestimated USA recession risk. Retirement Systems of Alabama increased its stake in shares of J.C. Penney by 0.5% in the second quarter. Holding Company, where 3 analysts have rated the stock as Strong buy, 8 analysts have given a Buy signal, 10 said it’s a HOLD, 3 reported it as Underperform and 0 analysts rated the stock as Sell. In the past 5 years, the stock has earnings growth rate of 9.37% per annum while the Upcoming 5 year’s earnings growth rate is expected to be -28% per annum.
J.C. Penney Company Holding Company (NYSE:JCP): During Mondays trading session, Bulls were in full control of the stock right from the opening.
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J.C. Penney is one of the most exciting retail turnarounds in the sector in my opinion, which is why I recommended it to my followers all throughout the year. (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com, which utilizes optimized applications for desktop, mobile and tablet devices.
