Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

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$JCP to Post FY2017 Earnings of $0.15 Per Share, Jefferies Group Forecasts (JCP)

http://dailyquint.com/2017-01-15-j-c-penney-co-to-post-fy2017-earnings-of-0-15-per-share-jefferies-group-forecasts-jcp/

J.C. Penney Co. (NYSE:JCP) – Investment analysts at Jefferies Group reduced their FY2017 earnings estimates for shares of J.C. Penney in a research report issued to clients and investors on Friday. Jefferies Group analyst R. Konik now expects that the brokerage will post earnings of $0.15 per share for the year, down from their prior estimate of $0.23. Jefferies Group currently has a “Hold” rating and a $10.00 target price on the stock. Jefferies Group also issued estimates for J.C. Penney’s Q4 2017 earnings at $0.72 EPS and FY2018 earnings at $0.72 EPS.

J.C. Penney (NYSE:JCP) last released its quarterly earnings data on Friday, November 11th. The department store operator reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.95 billion. J.C. Penney had a negative return on equity of 4.55% and a negative net margin of 2.56%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.45) EPS.



A number of other research firms have also weighed in on JCP. Vetr lowered shares of J.C. Penney from a “buy” rating to a “hold” rating and set a $10.02 price objective on the stock. in a research report on Monday, August 15th. B. Riley reaffirmed a “buy” rating and set a $16.00 target price on shares of J.C. Penney in a research report on Saturday, August 20th. Zacks Investment Research lowered shares of J.C. Penney from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 17th. Robert W. Baird reaffirmed an “outperform” rating and set a $13.00 target price on shares of J.C. Penney in a research report on Sunday, August 21st. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $10.00 target price on shares of J.C. Penney in a research report on Monday, August 15th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $11.44.

J.C. Penney (NYSE:JCP) traded down 3.204% during trading on Monday, reaching $9.215. The company had a trading volume of 7,866,534 shares. J.C. Penney has a 12-month low of $6.00 and a 12-month high of $11.99. The stock has a 50 day moving average of $8.81 and a 200-day moving average of $8.95. The stock’s market capitalization is $2.84 billion.

In related news, Chairman Marvin R. Ellison bought 50,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was acquired at an average price of $9.92 per share, with a total value of $496,000.00. Following the completion of the purchase, the chairman now directly owns 2,557,317 shares of the company’s stock, valued at $25,368,584.64. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.28% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in JCP. Parametrica Management Ltd bought a new stake in J.C. Penney during the second quarter worth approximately $102,000. Princeton Alpha Management LP bought a new stake in J.C. Penney during the third quarter worth approximately $102,000. Invictus RG acquired a new position in J.C. Penney during the first quarter worth $103,000. Advisors Asset Management Inc. raised its position in J.C. Penney by 40.8% in the second quarter. Advisors Asset Management Inc. now owns 11,546 shares of the department store operator’s stock worth $103,000 after buying an additional 3,346 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its position in J.C. Penney by 4.4% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 11,900 shares of the department store operator’s stock worth $110,000 after buying an additional 500 shares during the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.