J.C. Penney Co. (NYSE:JCP) – Research analysts at B. Riley dropped their Q3 2017 earnings per share (EPS) estimates for J.C. Penney in a report issued on Monday. B. Riley analyst J. Van. Sinderen now anticipates that the brokerage will post earnings of ($0.21) per share for the quarter, down from their prior forecast of ($0.20). B. Riley has a “Buy” rating and a $16.00 price objective on the stock. B. Riley also issued estimates for J.C. Penney’s Q4 2017 earnings at $0.64 EPS, FY2017 earnings at $0.06 EPS and FY2018 earnings at $0.34 EPS.

JCP has been the topic of a number of other research reports. Argus reissued a “hold” rating on shares of J.C. Penney in a research note on Tuesday, August 16th. Vetr raised J.C. Penney from a “buy” rating to a “strong-buy” rating and set a $10.35 price objective on the stock in a research note on Monday. TheStreet raised J.C. Penney from a “sell” rating to a “hold” rating in a research note on Friday, August 12th. Morgan Stanley boosted their price objective on J.C. Penney from $7.50 to $8.50 and gave the stock an “underweight” rating in a research note on Thursday, August 18th. Finally, Robert W. Baird reissued an “outperform” rating on shares of J.C. Penney in a research note on Tuesday, June 28th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $11.44.

Earnings History and Estimates for J.C. Penney (NYSE:JCP)

J.C. Penney (NYSE:JCP) opened at 9.64 on Wednesday. The company’s market cap is $2.97 billion. The stock’s 50 day moving average price is $9.71 and its 200-day moving average price is $9.27. J.C. Penney has a 52-week low of $6.00 and a 52-week high of $11.99.

J.C. Penney (NYSE:JCP) last posted its quarterly earnings results on Friday, August 12th. The department store operator reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. J.C. Penney had a negative return on equity of 10.18% and a negative net margin of 3.11%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the company earned ($0.41) EPS. The business’s revenue was up 1.5% compared to the same quarter last year.

A number of institutional investors have recently made changes to their positions in the stock. Virginia Retirement System acquired a new position in shares of J.C. Penney during the first quarter valued at $404,000. IFP Advisors Inc raised its stake in J.C. Penney by 2.8% in the first quarter. IFP Advisors Inc now owns 18,093 shares of the department store operator’s stock valued at $200,000 after buying an additional 496 shares during the period. CIBC World Markets Inc. purchased a new stake in J.C. Penney during the first quarter valued at $303,000. Pacad Investment Ltd. raised its stake in J.C. Penney by 136.2% in the first quarter. Pacad Investment Ltd. now owns 76,308 shares of the department store operator’s stock valued at $844,000 after buying an additional 44,008 shares during the period. Finally, BlackRock Inc. raised its stake in J.C. Penney by 37.3% in the first quarter. BlackRock Inc. now owns 190,081 shares of the department store operator’s stock valued at $2,102,000 after buying an additional 51,625 shares during the period. Institutional investors and hedge funds own 88.62% of the company’s stock.

In other J.C. Penney news, Chairman Marvin R. Ellison acquired 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were acquired at an average cost of $9.92 per share, for a total transaction of $496,000.00. Following the completion of the acquisition, the chairman now directly owns 2,557,317 shares of the company’s stock, valued at approximately $25,368,584.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.28% of the stock is currently owned by corporate insiders.

About J.C. Penney

J. C. Penney Company, Inc is a holding company. The Company’s operating subsidiary is J. C. Penney Corporation, Inc (JCP). The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com, which utilizes optimized applications for desktop, mobile and tablet devices.

5 Day Chart for NYSE:JCP

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