Goldman Sachs Cuts Price Target on J.C. Penney Company (JCP)

By admin | 6 years ago

Equities researchers at Goldman Sachs (NYSE: GS) dropped their target price on shares of J.C. Penney Company (NYSE: JCP) from $35.00 to $31.00 in a report issued on Wednesday.

Shares of J.C. Penney Company opened at 26.75 on Wednesday. J.C. Penney Company has a 52 week low of $23.44 and a 52 week high of $43.18. The company’s market cap is $5.839 billion.

J.C. Penney Company last announced its earnings results 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 $0.26 earnings per share next quarter.

A number of other analysts have also recently weighed in on JCP. Analysts at Nomura (NYSE: NMR) reiterated a “neutral” rating on shares of J.C. Penney Company in a research note to investors on Wednesday. Separately, analysts at Credit Suisse (NYSE: CS) cut their EPS estimates on shares of J.C. Penney Company in a research note on Wednesday. They now have a “neutral” rating and a $35.00 price target on the stock. Finally, 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.

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.

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