J.C. Penney Co. Stock Rating Lowered by Citigroup Inc. (JCP)

J.C. Penney Co. (NYSE:JCP) was downgraded by stock analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating in a report issued on Thursday, TheFlyOnTheWall.com reports. They currently have a GBX 11 ($0.17) price objective on the stock.

The analysts wrote, “we see no evidence of a turnaround in the works,”

J.C. Penney Co. (NYSE:JCP) traded up 3.29% on Thursday, hitting $15.08. J.C. Penney Co. has a 52-week low of $13.55 and a 52-week high of $32.55. The stock’s 50-day moving average is currently $16.70. The company’s market cap is $3.322 billion.

J.C. Penney Co. (NYSE:JCP) last posted its quarterly earnings results on Thursday, May 16th. The company reported ($1.31) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.86) by $0.45. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.72 billion. Analysts expect that J.C. Penney Co. will post $-3.17 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a “sell” rating on shares of J.C. Penney Co. in a research note to investors on Tuesday, July 16th. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of J.C. Penney Co. in a research note to investors on Tuesday, June 25th. They now have a $23.00 price target on the stock.

Nine research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $16.73.

J. C. Penney Company, Inc (NYSE:JCP), is a holding company.