J.C. Penney Co. (NYSE:JCP)‘s stock had its “neutral” rating reaffirmed by analysts at Goldman Sachs Group Inc. in a research report issued to clients and investors on Wednesday, Analyst Ratings Network.com reports. They currently have a $11.00 target price on the stock, up from their previous target price of $10.00. Goldman Sachs Group Inc.’s target price points to a potential upside of 8.80% from the stock’s previous close.
J.C. Penney Co. (NYSE:JCP) opened at 10.11 on Wednesday. J.C. Penney Co. has a 52-week low of $6.24 and a 52-week high of $23.10. The stock has a 50-day moving average of $8.24 and a 200-day moving average of $13.01. The company’s market cap is $3.080 billion.
J.C. Penney Co. (NYSE:JCP) last released its earnings data on Wednesday, November 20th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by $0.09. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the company posted ($0.93) earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Analysts expect that J.C. Penney Co. will post $-6.07 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of J.C. Penney Co. in a research note to investors on Tuesday, November 26th. They now have a $9.65 price target on the stock. Separately, analysts at Imperial Capital raised their price target on shares of J.C. Penney Co. from $1.00 to $5.00 in a research note to investors on Monday, November 25th. They now have an “underperform” rating on the stock. Finally, analysts at Oppenheimer reiterated a “hold” rating on shares of J.C. Penney Co. in a research note to investors on Wednesday, November 20th. They now have a $8.00 price target on the stock, up previously from $7.00. Eight research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $11.18.
In other J.C. Penney Co. news, CEO Myron Ullman III acquired 112,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average cost of $8.95 per share, with a total value of $1,002,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 112,000 shares in the company, valued at approximately $1,002,400. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
J. C. Penney Company, Inc (NYSE:JCP), is a holding company.
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