Credit Suisse Has Negative Earnings Outlook Update for J.C. Penney Company (JCP)
Equities research analysts at Credit Suisse (NYSE: CS) decreased their earnings per share estimates on shares of J.C. Penney Company (NYSE: JCP) in a research note issued to investors on Wednesday. The firm currently has a “neutral” rating and a $35.00 price target on the company’s shares.
Several other analysts have also recently commented on the stock. Analysts at Bank of America (NYSE: BAC) cut their price target on shares of J.C. Penney Company from $30.00 to $28.00 in a research note to investors on Wednesday. Separately, analysts at Robert W. Baird reiterated a “neutral” rating on shares of J.C. Penney Company in a research note to investors on Tuesday. Finally, analysts at Nomura (NYSE: NMR) reiterated a “neutral” rating on shares of J.C. Penney Company in a research note to investors on Wednesday, May 2nd.
Shares of J.C. Penney Company traded up 1.60% during mid-day trading on Wednesday, hitting $27.177. J.C. Penney Company has a one year low of $23.44 and a one year high of $43.18. The company’s market cap is $5.933 billion.
J.C. Penney Company last issued its quarterly earnings data on Tuesday, May 15th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by $0.17. The company’s revenue for the quarter was down 20.1% on a year-over-year basis. On average, analysts predict that J.C. Penney Company will post $0.27 earnings per share next quarter.
J. C. Penney Company, Inc. (jcpenney) is a holding company. The Company is a retailer, operating 1,106 department stores in 49 states and Puerto Rico as of January 29, 2011.