Deutsche Bank Reiterates Hold on J.C. Penney Company (JCP)
A number of other firms have also recently commented on JCP. Analysts at Barclays Capital (NYSE: BCS) cut their price target on shares of J.C. Penney Company from $45.00 to $30.00 in a research note to investors on Wednesday. They now have an “equal weight” rating on the stock. Separately, analysts at Morgan Stanley (NYSE: MS) cut their price target on shares of J.C. Penney Company to $23.00 in a research note to investors on Friday, May 18th. They now have an “underweight” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of J.C. Penney Company in a research note to investors on Thursday, May 17th. They now have a $28.00 price target on the stock.
J.C. Penney Company opened at 27.26 on Wednesday. J.C. Penney Company has a 1-year low of $23.44 and a 1-year high of $43.18. The company’s market cap is $5.954 billion.
J.C. Penney Company last released its earnings data on Tuesday, May 15th. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.08) by $0.17. The company’s quarterly revenue was down 20.1% on a year-over-year basis. Analysts expect that J.C. Penney Company will post $0.27 EPS next quarter.
J. C. Penney Company, Inc. (jcpenney), incorporated in 2002, is a holding company. The Company is a retailer, operating 1,102 department stores in 49 states and Puerto Rico as of January 28, 2012.