J C Penney (NYSE:JCP) Shares Gap Up to $0.84

J C Penney Company Inc (NYSE:JCP)’s share price gapped up before the market opened on Friday . The stock had previously closed at $0.82, but opened at $0.84. J C Penney shares last traded at $0.85, with a volume of 5,620,477 shares changing hands.

Separately, ValuEngine upgraded J C Penney from a “hold” rating to a “buy” rating in a research report on Saturday, January 4th.

The company has a market cap of $271.49 million, a PE ratio of -0.90 and a beta of 1.63. The company has a debt-to-equity ratio of 5.90, a current ratio of 1.51 and a quick ratio of 0.20. The company has a 50-day moving average of $1.08 and a 200 day moving average of $0.96.

J C Penney (NYSE:JCP) last released its quarterly earnings results on Friday, November 15th. The department store operator reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $0.25. The company had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.43 billion. J C Penney had a negative return on equity of 24.09% and a negative net margin of 1.92%. The firm’s revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.52) earnings per share. Equities research analysts expect that J C Penney Company Inc will post -1.05 EPS for the current year.

Several large investors have recently made changes to their positions in the business. State of Tennessee Treasury Department boosted its position in shares of J C Penney by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 136,777 shares of the department store operator’s stock valued at $122,000 after buying an additional 10,753 shares during the period. Cetera Advisors LLC boosted its position in shares of J C Penney by 80.5% during the third quarter. Cetera Advisors LLC now owns 44,761 shares of the department store operator’s stock valued at $40,000 after buying an additional 19,964 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of J C Penney during the first quarter valued at approximately $41,000. Lineweaver Wealth Advisors LLC purchased a new position in shares of J C Penney during the fourth quarter valued at approximately $34,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of J C Penney during the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 60.08% of the company’s stock.

About J C Penney (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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