J C Penney Company Inc (JCP) is Initiated by Jefferies to Hold, Price Target at $9

J C Penney Company Inc (JCP) was Initiated by Jefferies to “Hold” and the brokerage firm has set the Price Target at $9. Jefferies advised their investors in a research report released on May 10, 2016.

Many Wall Street Analysts have commented on J C Penney Company Inc. Shares were Reiterated by JP Morgan on May 6, 2016 to “Neutral” and Lowered the Price Target to $ 7 from a previous price target of $10 .J C Penney Company Inc was Upgraded by Northcoast to ” Buy” on Apr 4, 2016. Company shares were Reiterated by Deutsche Bank on Mar 11, 2016 to “Buy”, Firm has raised the Price Target to $ 14 from a previous price target of $12 .

On the company’s financial health, J C Penney Company Inc reported $-0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Nov 13, 2015. Analyst had a consensus of $-0.55. The company had revenue of $2897.00 million for the quarter, compared to analysts expectations of $2878.68 million. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.77 EPS.

J C Penney Company Inc closed down -0.67 points or -7.50% at $8.26 with 3,40,96,994 shares getting traded on Friday. Post opening the session at $8.59, the shares hit an intraday low of $8.02 and an intraday high of $8.6 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Mar 9, 2016, Marvin R Ellison (CEO) purchased 50,000 shares at $11.80 per share price. According to the SEC, on May 18, 2015, Brynn Evanson (EVP, HR) sold 6,761 shares at $8.44 per share price.

J. C. Penney Company Inc. (JCPenney) 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 Website at jcpenney.com which utilizes applications for desktop mobile and tablet devices. The Company’s online customer purchases by direct shipment to the customer from its distribution facilities and stores or from its suppliers’ warehouses and by in store customer pick up. The Company sells family apparel and footwear accessories fine and fashion jewelry beauty products through Sephora inside JCPenney and home furnishings. The Company’s department stores provide its customers with services such as styling salon optical portrait photography and custom decorating.

J C Penney Company Inc

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