J C Penney (JCP) Debt Trading 1.4% Lower

An issue of J C Penney Company Inc (NYSE:JCP) bonds fell 1.4% as a percentage of their face value during trading on Wednesday. The debt issue has a 8.625% coupon and is set to mature on March 15, 2025. The bonds in the issue are now trading at $58.00 and were trading at $63.50 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.

A number of equities research analysts have issued reports on JCP shares. Craig Hallum reaffirmed a “hold” rating and set a $2.00 price objective on shares of J C Penney in a report on Thursday, November 15th. Zacks Investment Research raised shares of J C Penney from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 14th. Piper Jaffray Companies set a $2.00 target price on shares of J C Penney and gave the company a “hold” rating in a report on Wednesday, October 3rd. Deutsche Bank cut their target price on shares of J C Penney from $3.00 to $2.00 and set a “hold” rating for the company in a report on Friday, August 17th. Finally, B. Riley cut their target price on shares of J C Penney from $3.00 to $2.00 and set a “hold” rating for the company in a report on Friday, August 17th. Six equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $3.02.

Shares of JCP stock traded down $0.01 on Friday, reaching $1.31. The company’s stock had a trading volume of 4,382,583 shares, compared to its average volume of 16,194,843. J C Penney Company Inc has a 1 year low of $1.04 and a 1 year high of $4.75. The company has a debt-to-equity ratio of 4.07, a quick ratio of 0.17 and a current ratio of 1.58. The firm has a market cap of $414.86 million, a PE ratio of 5.95 and a beta of 0.97.

J C Penney (NYSE:JCP) last posted its earnings results on Thursday, November 15th. The department store operator reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.05. J C Penney had a negative net margin of 0.62% and a negative return on equity of 13.97%. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the firm posted ($0.33) earnings per share. On average, equities analysts predict that J C Penney Company Inc will post -0.93 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of JCP. BNP Paribas Arbitrage SA lifted its position in J C Penney by 51.9% in the second quarter. BNP Paribas Arbitrage SA now owns 1,157,675 shares of the department store operator’s stock worth $2,709,000 after buying an additional 395,452 shares during the last quarter. Newport Trust Co lifted its position in J C Penney by 3.3% in the second quarter. Newport Trust Co now owns 13,809,203 shares of the department store operator’s stock worth $32,314,000 after buying an additional 441,186 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV bought a new stake in J C Penney in the second quarter worth $160,000. Eqis Capital Management Inc. bought a new stake in J C Penney in the second quarter worth $135,000. Finally, Dupont Capital Management Corp lifted its position in J C Penney by 36.1% in the second quarter. Dupont Capital Management Corp now owns 103,600 shares of the department store operator’s stock worth $242,000 after buying an additional 27,500 shares during the last quarter. Institutional investors own 66.99% of the company’s stock.

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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, home furnishings, and large appliances; and provides services, including styling salon, optical, portrait photography, custom decorating, and home services.

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