Shares of J C Penney Company Inc (NYSE:JCP) gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $1.09, but opened at $1.07. J C Penney shares last traded at $1.00, with a volume of 106087 shares.
The department store operator reported ($0.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.07). J C Penney had a negative return on equity of 24.80% and a negative net margin of 2.12%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the prior year, the business posted ($0.22) earnings per share. J C Penney’s revenue was down 5.6% on a year-over-year basis.
Several brokerages recently issued reports on JCP. B. Riley set a $1.00 price objective on J C Penney and gave the stock a “hold” rating in a report on Friday, May 17th. Zacks Investment Research lowered J C Penney from a “buy” rating to a “strong sell” rating in a report on Wednesday, May 1st. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $2.53.
The company has a quick ratio of 0.27, a current ratio of 1.52 and a debt-to-equity ratio of 3.35. The firm has a market cap of $333.45 million, a price-to-earnings ratio of -1.07 and a beta of 1.05.
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J C Penney Company Profile (NYSE:JCP)
J. C. Penney Company, Inc, through its subsidiary J. C. Penney Corporation, Inc, sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services.
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