J C Penney (NYSE:JCP) issued its quarterly earnings data on Thursday. The department store operator reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.14, RTT News reports. J C Penney had a negative net margin of 2.78% and a negative return on equity of 33.29%. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. J C Penney’s revenue for the quarter was down 9.2% on a year-over-year basis.
Shares of J C Penney stock opened at $0.58 on Friday. The company has a quick ratio of 0.24, a current ratio of 1.51 and a debt-to-equity ratio of 4.75. J C Penney has a twelve month low of $0.53 and a twelve month high of $2.05. The stock has a market cap of $189.93 million, a price-to-earnings ratio of -0.62 and a beta of 1.59. The company’s fifty day moving average is $0.91 and its 200 day moving average is $1.20.
In other news, Director Javier G. Teruel bought 223,419 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were acquired at an average price of $0.98 per share, for a total transaction of $218,950.62. Following the completion of the acquisition, the director now directly owns 1,045,903 shares in the company, valued at $1,024,984.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.41% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new position in J C Penney in the first quarter valued at $41,000. Regentatlantic Capital LLC acquired a new position in J C Penney in the first quarter valued at $41,000. D. E. Shaw & Co. Inc. lifted its holdings in J C Penney by 245.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 29,187 shares of the department store operator’s stock valued at $30,000 after buying an additional 49,187 shares during the period. Magnus Financial Group LLC acquired a new position in J C Penney in the first quarter valued at $53,000. Finally, Stone Ridge Asset Management LLC acquired a new position in J C Penney in the second quarter valued at $74,000. Institutional investors and hedge funds own 69.79% of the company’s stock.
Several brokerages recently weighed in on JCP. Zacks Investment Research cut shares of J C Penney from a “buy” rating to a “strong sell” rating in a research note on Wednesday, May 1st. B. Riley reissued a “neutral” rating and issued a $0.60 price objective (down previously from $1.30) on shares of J C Penney in a research note on Tuesday. Six analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company presently has an average rating of “Sell” and a consensus target price of $2.48.
J C Penney Company Profile
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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